3M (NYSE:MMM) Announces Quarterly Earnings Results, Beats Estimates By $0.12 EPS

3M (NYSE:MMM) released its earnings results on Tuesday. The conglomerate reported $2.19 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.12, Zacks reports. The company had revenue of $6.30 billion for the quarter, compared to the consensus estimate of $6.25 billion. 3M had a return on equity of 100.89% and a net margin of 13.70%.3M’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.98 earnings per share. 3M updated its FY 2025 guidance to 7.950-8.05 EPS.

3M Trading Up 0.2%

Shares of MMM stock opened at $166.99 on Thursday. 3M has a 12-month low of $121.98 and a 12-month high of $169.18. The company has a current ratio of 1.72, a quick ratio of 1.20 and a debt-to-equity ratio of 2.87. The stock’s 50-day moving average price is $155.31 and its 200-day moving average price is $149.31. The stock has a market capitalization of $88.94 billion, a price-to-earnings ratio of 26.68, a price-to-earnings-growth ratio of 2.74 and a beta of 1.05.

3M Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Monday, August 25th were issued a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, August 25th. 3M’s payout ratio is 40.61%.

Insider Activity

In other news, CAO Theresa E. Reinseth sold 3,477 shares of 3M stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $150.63, for a total value of $523,740.51. Following the sale, the chief accounting officer directly owned 2,561 shares of the company’s stock, valued at approximately $385,763.43. The trade was a 57.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Christian T. Goralski, Jr. sold 6,165 shares of 3M stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $150.18, for a total value of $925,859.70. Following the completion of the sale, the insider directly owned 2,900 shares in the company, valued at $435,522. This trade represents a 68.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On 3M

Large investors have recently made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S increased its stake in 3M by 11.4% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 21,606 shares of the conglomerate’s stock worth $3,289,000 after acquiring an additional 2,203 shares during the last quarter. Brighton Jones LLC increased its stake 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 acquiring an additional 1,872 shares during the last quarter. WFA of San Diego LLC bought a new stake in 3M during the second quarter worth approximately $61,000. Bison Wealth LLC increased its stake in 3M by 10.2% during the fourth quarter. Bison Wealth LLC now owns 2,751 shares of the conglomerate’s stock worth $355,000 after acquiring an additional 255 shares during the last quarter. Finally, Morse Asset Management Inc increased its stake in 3M by 1.8% during the second quarter. Morse Asset Management Inc now owns 10,301 shares of the conglomerate’s stock worth $1,568,000 after acquiring an additional 185 shares during the last quarter. 65.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

MMM has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on 3M from $177.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. UBS Group set a $190.00 target price on 3M in a research report on Wednesday. Weiss Ratings restated a “buy (b-)” rating on shares of 3M in a research report on Wednesday, October 8th. Morgan Stanley set a $160.00 price objective on 3M and gave the company an “equal weight” rating in a research report on Tuesday. Finally, Citigroup boosted their price objective on 3M from $160.00 to $169.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $172.67.

3M Company Profile

3M Company provides diversified technology services in the United States and internationally. The company’s Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.