Edgar Lomax Co. VA Sells 41,535 Shares of 3M Company $MMM

Edgar Lomax Co. VA lowered its position in 3M Company (NYSE:MMM) by 22.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 142,725 shares of the conglomerate’s stock after selling 41,535 shares during the period. 3M comprises approximately 1.7% of Edgar Lomax Co. VA’s holdings, making the stock its 23rd largest position. Edgar Lomax Co. VA’s holdings in 3M were worth $22,148,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Segall Bryant & Hamill LLC purchased a new position in shares of 3M in the second quarter valued at about $8,594,000. Handelsbanken Fonder AB raised its stake in 3M by 17.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 265,360 shares of the conglomerate’s stock valued at $40,398,000 after purchasing an additional 38,501 shares during the period. BLI Banque de Luxembourg Investments bought a new stake in 3M during the 2nd quarter valued at approximately $4,103,000. Allstate Corp purchased a new position in 3M in the 3rd quarter worth approximately $3,087,000. Finally, L & S Advisors Inc boosted its stake in 3M by 52.5% in the 2nd quarter. L & S Advisors Inc now owns 44,112 shares of the conglomerate’s stock worth $6,716,000 after purchasing an additional 15,180 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Price Performance

3M stock opened at $155.77 on Friday. 3M Company has a 52-week low of $121.98 and a 52-week high of $177.41. The company has a quick ratio of 1.33, a current ratio of 1.71 and a debt-to-equity ratio of 2.30. The firm’s fifty day moving average is $163.93 and its 200 day moving average is $161.88. The company has a market cap of $82.04 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 2.25 and a beta of 1.08.

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

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Friday, February 13th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.0%. This is a boost from 3M’s previous quarterly dividend of $0.73. The ex-dividend date is Friday, February 13th. 3M’s dividend payout ratio (DPR) is currently 52.00%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MMM. Wolfe Research lifted their price objective on shares of 3M from $196.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday, February 27th. Royal Bank Of Canada raised their target price on shares of 3M from $131.00 to $136.00 and gave the company an “underperform” rating in a research note on Wednesday, January 21st. Wells Fargo & Company reduced their price target on shares of 3M from $183.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, January 21st. Barclays boosted their price target 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. Finally, Citigroup cut their price objective on 3M from $181.00 to $175.00 and set a “neutral” rating for the company in a research report on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $175.90.

Insider Activity

In other news, CAO Theresa E. Reinseth sold 5,145 shares of 3M stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $172.75, for a total value of $888,798.75. Following the completion of the transaction, the chief accounting officer owned 2,585 shares in the company, valued at approximately $446,558.75. The trade was a 66.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.34% of the stock is owned by insiders.

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).