3M Company $MMM Stock Position Increased by Bank of Stockton

Bank of Stockton raised its position in shares of 3M Company (NYSE:MMM) by 249.0% in the first quarter, HoldingsChannel reports. The firm owned 5,305 shares of the conglomerate’s stock after acquiring an additional 3,785 shares during the period. Bank of Stockton’s holdings in 3M were worth $770,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in shares of 3M by 26.6% in the fourth quarter. Brighton Jones LLC now owns 8,898 shares of the conglomerate’s stock valued at $1,149,000 after purchasing an additional 1,872 shares during the period. Bison Wealth LLC grew its holdings in 3M by 10.2% in the 4th quarter. Bison Wealth LLC now owns 2,751 shares of the conglomerate’s stock worth $355,000 after buying an additional 255 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings in 3M by 11.4% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 21,606 shares of the conglomerate’s stock worth $3,289,000 after buying an additional 2,203 shares in the last quarter. WFA of San Diego LLC acquired a new stake in 3M in the 2nd quarter valued at approximately $61,000. Finally, Morse Asset Management Inc increased its position in 3M by 1.8% in the 2nd quarter. Morse Asset Management Inc now owns 10,301 shares of the conglomerate’s stock valued at $1,568,000 after acquiring an additional 185 shares during the period. Institutional investors own 65.25% of the company’s stock.

3M Stock Performance

Shares of NYSE MMM opened at $157.90 on Wednesday. 3M Company has a 1 year low of $139.34 and a 1 year high of $177.41. The firm has a market cap of $82.36 billion, a P/E ratio of 30.42, a PEG ratio of 2.24 and a beta of 1.02. The stock has a fifty day moving average price of $154.01 and a two-hundred day moving average price of $156.28. The company has a debt-to-equity ratio of 3.29, a quick ratio of 1.19 and a current ratio of 1.59.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, April 21st. The conglomerate reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.16. The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.04 billion. 3M had a return on equity of 104.75% and a net margin of 11.14%.The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.88 EPS. 3M has set its FY 2026 guidance at 8.500-8.700 EPS. Research analysts forecast that 3M Company will post 8.73 EPS for the current fiscal year.

3M Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 22nd were given a $0.78 dividend. The ex-dividend date was Friday, May 22nd. This represents a $3.12 annualized dividend and a yield of 2.0%. 3M’s payout ratio is 60.12%.

Wall Street Analyst Weigh In

MMM has been the subject of a number of analyst reports. Sanford C. Bernstein started coverage on 3M in a research report on Tuesday, June 9th. They set an “underperform” rating and a $131.00 price target for the company. Deutsche Bank Aktiengesellschaft cut their price objective on shares of 3M from $181.00 to $171.00 and set a “hold” rating on the stock in a research note on Wednesday, April 22nd. Barclays reduced their price objective on shares of 3M from $190.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. Weiss Ratings lowered shares of 3M from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, June 1st. Finally, Royal Bank Of Canada lowered their target price on shares of 3M from $134.00 to $133.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 22nd. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, 3M presently has a consensus rating of “Hold” and a consensus price target of $170.00.

About 3M

3M Company, originally founded in 1902 as the Minnesota Mining and Manufacturing Company, is a diversified global technology and manufacturing firm headquartered in St. Paul, Minnesota. Over its history the company has expanded from mineral mining into a broad portfolio of industrial, safety, healthcare and consumer products, building a reputation for applied science and product innovation across many end markets.

3M’s businesses span a wide range of product categories including adhesives and tapes, abrasives, filtration and separation technologies, personal protective equipment such as respirators, medical and dental products, industrial and automotive solutions, and a suite of consumer brands (for example, well-known office and home products).