Essential Partners LLC Has $137,000 Holdings in 3M Company $MMM

Essential Partners LLC lessened its position in shares of 3M Company (NYSE:MMM) by 88.5% in the first quarter, HoldingsChannel reports. The fund owned 945 shares of the conglomerate’s stock after selling 7,298 shares during the period. Essential Partners LLC’s holdings in 3M were worth $137,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC increased its stake in shares of 3M by 653.6% during the first quarter. SG Americas Securities LLC now owns 2,369,879 shares of the conglomerate’s stock worth $344,178,000 after purchasing an additional 2,055,419 shares during the period. PFA Pension Forsikringsaktieselskab bought a new stake in 3M in the 4th quarter valued at $65,009,000. Handelsbanken Fonder AB boosted its stake in 3M by 1.5% in the 4th quarter. Handelsbanken Fonder AB now owns 271,777 shares of the conglomerate’s stock valued at $43,511,000 after purchasing an additional 4,101 shares during the period. Captrust Financial Advisors grew its holdings in 3M by 2.9% in the 4th quarter. Captrust Financial Advisors now owns 156,676 shares of the conglomerate’s stock valued at $25,084,000 after buying an additional 4,372 shares in the last quarter. Finally, Willis Investment Counsel increased its position in 3M by 1.5% during the 4th quarter. Willis Investment Counsel now owns 136,141 shares of the conglomerate’s stock worth $21,796,000 after buying an additional 2,077 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Stock Up 0.3%

Shares of MMM opened at $176.64 on Friday. 3M Company has a one year low of $139.34 and a one year high of $184.90. The company has a market cap of $91.10 billion, a P/E ratio of 31.37, a P/E/G ratio of 2.43 and a beta of 1.02. The company has a debt-to-equity ratio of 3.63, a current ratio of 1.24 and a quick ratio of 0.91. The firm has a 50 day simple moving average of $161.19 and a two-hundred day simple moving average of $156.89.

3M (NYSE:MMM) last released its earnings results on Tuesday, July 21st. The conglomerate reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.15. The firm had revenue of $6.50 billion during the quarter, compared to analysts’ expectations of $6.40 billion. 3M had a return on equity of 115.87% and a net margin of 11.90%.The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the company earned $2.16 earnings per share. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. Research analysts forecast that 3M Company will post 8.93 EPS for the current fiscal year.

3M Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 22nd were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, May 22nd. 3M’s dividend payout ratio is currently 55.42%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on MMM shares. Weiss Ratings raised 3M from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 23rd. HSBC upped their price target on shares of 3M from $175.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $192.00 price target on shares of 3M in a research report on Wednesday, July 22nd. Jefferies Financial Group lifted their price objective on shares of 3M from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Monday, June 29th. Finally, Mizuho boosted their price objective on shares of 3M from $160.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, 3M currently has an average rating of “Hold” and a consensus price target of $177.21.

3M Profile

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).