Spinnaker Trust Sells 3,500 Shares of 3M Company $MMM

Spinnaker Trust decreased its holdings in 3M Company (NYSE:MMM) by 0.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 406,297 shares of the conglomerate’s stock after selling 3,500 shares during the quarter. 3M makes up 3.5% of Spinnaker Trust’s portfolio, making the stock its 6th largest holding. Spinnaker Trust’s holdings in 3M were worth $63,049,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MMM. Brighton Jones LLC raised its holdings in 3M by 26.6% during the fourth quarter. Brighton Jones LLC now owns 8,898 shares of the conglomerate’s stock worth $1,149,000 after purchasing an additional 1,872 shares in the last quarter. Bison Wealth LLC boosted its stake in 3M by 10.2% during the 4th quarter. Bison Wealth LLC now owns 2,751 shares of the conglomerate’s stock valued at $355,000 after purchasing an additional 255 shares in the last quarter. Trust Co. of Toledo NA OH increased its position in shares of 3M by 32.7% during the 2nd quarter. Trust Co. of Toledo NA OH now owns 8,220 shares of the conglomerate’s stock valued at $1,251,000 after purchasing an additional 2,025 shares during the period. Rosenberg Matthew Hamilton raised its stake in shares of 3M by 15.4% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 875 shares of the conglomerate’s stock worth $133,000 after buying an additional 117 shares in the last quarter. Finally, Bridges Investment Management Inc. lifted its holdings in shares of 3M by 30.2% in the second quarter. Bridges Investment Management Inc. now owns 2,222 shares of the conglomerate’s stock valued at $338,000 after buying an additional 515 shares during the period. 65.25% of the stock is currently owned by institutional investors.

Insider Activity at 3M

In related news, EVP Zoe L. Dickson sold 13,826 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $169.78, for a total value of $2,347,378.28. Following the completion of the sale, the executive vice president owned 6,162 shares of the company’s stock, valued at approximately $1,046,184.36. The trade was a 69.17% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Mizuho set a $160.00 target price on 3M in a report on Wednesday, January 21st. Barclays lifted their price objective on shares of 3M from $180.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. UBS Group boosted their target price on shares of 3M from $184.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Morgan Stanley raised their target price on shares of 3M from $160.00 to $165.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 21st. Finally, Weiss Ratings lowered shares of 3M from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $175.36.

3M Stock Performance

MMM stock opened at $172.66 on Friday. 3M Company has a 52 week low of $121.98 and a 52 week high of $174.69. The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.33 and a current ratio of 1.71. The stock has a market cap of $90.94 billion, a P/E ratio of 28.78, a P/E/G ratio of 2.31 and a beta of 1.09. The firm has a 50 day simple moving average of $163.44 and a 200 day simple moving average of $159.93.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, January 20th. The conglomerate reported $1.83 EPS for the quarter, beating the consensus estimate of $1.80 by $0.03. 3M had a net margin of 13.03% and a return on equity of 95.36%. The business had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6.03 billion. During the same period in the previous year, the company posted $1.68 EPS. 3M’s revenue was up 1.5% on a year-over-year basis. 3M has set its FY 2026 guidance at 8.50-8.700 EPS. Research analysts anticipate that 3M Company will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Friday, February 13th will be issued a dividend of $0.78 per share. The ex-dividend date is Friday, February 13th. This represents a $3.12 annualized dividend and a dividend yield of 1.8%. This is a positive change from 3M’s previous quarterly dividend of $0.73. 3M’s dividend payout ratio is presently 48.67%.

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).