Nissay Asset Management Corp Japan Buys 3,384 Shares of 3M Company $MMM

Nissay Asset Management Corp Japan increased its stake in shares of 3M Company (NYSE:MMM) by 5.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,310 shares of the conglomerate’s stock after purchasing an additional 3,384 shares during the quarter. Nissay Asset Management Corp Japan’s holdings in 3M were worth $11,546,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Commonwealth Retirement Investments LLC acquired a new stake in 3M in the fourth quarter valued at approximately $28,000. Sfam LLC acquired a new position in shares of 3M during the fourth quarter worth $45,000. Cornerstone Planning Group LLC lifted its stake in shares of 3M by 32.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 292 shares of the conglomerate’s stock valued at $42,000 after acquiring an additional 71 shares during the last quarter. West Paces Advisors Inc. bought a new position in shares of 3M in the 2nd quarter valued at $49,000. Finally, WFA of San Diego LLC acquired a new stake in shares of 3M during the 2nd quarter valued at $61,000. Institutional investors own 65.25% of the company’s stock.

3M Price Performance

Shares of NYSE:MMM opened at $174.14 on Friday. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.91 and a current ratio of 1.24. 3M Company has a 52 week low of $139.34 and a 52 week high of $184.90. The firm has a market cap of $89.81 billion, a PE ratio of 30.93, a price-to-earnings-growth ratio of 2.11 and a beta of 1.01. The firm’s fifty day moving average is $171.09 and its 200-day moving average is $159.46.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, July 21st. The conglomerate reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.25 by $0.15. The business had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.40 billion. 3M had a return on equity of 115.87% and a net margin of 11.90%.3M’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.16 earnings per share. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. Sell-side analysts predict that 3M Company will post 8.96 earnings per share for the current year.

3M Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 24th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a $3.12 annualized dividend and a dividend yield of 1.8%. 3M’s dividend payout ratio is presently 55.42%.

Insider Buying and Selling at 3M

In other news, insider Rodriguez Beatriz Karin Chavez sold 3,635 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $182.51, for a total transaction of $663,423.85. Following the completion of the transaction, the insider directly owned 14,035 shares in the company, valued at $2,561,527.85. This trade represents a 20.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MMM shares. Sanford C. Bernstein boosted their price objective on 3M from $140.00 to $145.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 22nd. UBS Group increased their target price on 3M from $190.00 to $218.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Royal Bank Of Canada lifted their price target on 3M from $123.00 to $132.00 and gave the company an “underperform” rating in a research note on Wednesday, July 22nd. Citigroup boosted their price target on 3M from $166.00 to $183.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of 3M in a research note on Wednesday, July 22nd. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $177.21.

3M Company 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).