3M Company $MMM Shares Acquired by Bank of Stockton

Bank of Stockton boosted its holdings in 3M Company (NYSE:MMM) by 249.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,305 shares of the conglomerate’s stock after purchasing an additional 3,785 shares during the period. Bank of Stockton’s holdings in 3M were worth $770,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Commonwealth Retirement Investments LLC purchased a new position in shares of 3M during the 4th quarter valued at approximately $28,000. EQ Wealth Advisors LLC bought a new stake in shares of 3M in the fourth quarter worth $40,000. Sfam LLC acquired a new stake in 3M in the fourth quarter valued at $45,000. WFA of San Diego LLC acquired a new stake in 3M in the second quarter valued at $61,000. Finally, Ameriflex Group Inc. boosted its stake in 3M by 245.0% during the 3rd quarter. Ameriflex Group Inc. now owns 414 shares of the conglomerate’s stock valued at $64,000 after acquiring an additional 294 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Trading Down 0.8%

3M stock 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’s 50-day moving average is $154.01 and its 200-day moving average is $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. The company 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.

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

3M Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 22nd were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $3.12 annualized dividend and a dividend yield of 2.0%. 3M’s dividend payout ratio is 60.12%.

Analyst Upgrades and Downgrades

MMM has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of 3M from $181.00 to $171.00 and set a “hold” rating for the company in a research report on Wednesday, April 22nd. The Goldman Sachs Group raised shares of 3M to a “buy” rating and set a $190.00 price target on the stock in a research report on Monday, June 15th. Barclays lowered their price objective on 3M from $190.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. Royal Bank Of Canada cut their price objective on 3M from $134.00 to $133.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 22nd. Finally, Sanford C. Bernstein started coverage on 3M in a report on Tuesday, June 9th. They set an “underperform” rating and a $131.00 target price on the stock. Six research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $170.00.

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).