Spinnaker Trust Sells 3,874 Shares of 3M Company $MMM

Spinnaker Trust trimmed its holdings in shares of 3M Company (NYSE:MMM) by 1.0% in the first quarter, Holdings Channel reports. The firm owned 399,155 shares of the conglomerate’s stock after selling 3,874 shares during the period. 3M makes up 3.2% of Spinnaker Trust’s portfolio, making the stock its 6th biggest position. Spinnaker Trust’s holdings in 3M were worth $57,969,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in MMM. Commonwealth Retirement Investments LLC acquired a new position in shares of 3M during the fourth quarter worth about $28,000. EQ Wealth Advisors LLC acquired a new stake in shares of 3M in the fourth quarter valued at about $40,000. Sfam LLC purchased a new stake in shares of 3M during the 4th quarter valued at about $45,000. WFA of San Diego LLC purchased a new stake in shares of 3M during the 2nd quarter valued at about $61,000. Finally, Ameriflex Group Inc. lifted its position in 3M by 245.0% during the 3rd quarter. Ameriflex Group Inc. now owns 414 shares of the conglomerate’s stock worth $64,000 after acquiring an additional 294 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Trading Down 0.9%

NYSE:MMM opened at $162.58 on Tuesday. The stock has a market cap of $84.80 billion, a price-to-earnings ratio of 31.33, a price-to-earnings-growth ratio of 2.32 and a beta of 1.03. 3M Company has a one year low of $139.34 and a one year high of $177.41. 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 business’s 50-day simple moving average is $152.62 and its 200 day simple moving average is $156.52.

3M (NYSE:MMM) last issued 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. 3M had a return on equity of 104.75% and a net margin of 11.14%.The firm had revenue of $6 billion during the quarter, compared to analyst estimates of $6.04 billion. During the same quarter last year, the firm earned $1.88 EPS. 3M’s quarterly revenue was up 1.3% on a year-over-year basis. 3M has set its FY 2026 guidance at 8.500-8.700 EPS. As a group, sell-side analysts predict that 3M Company will post 8.71 earnings per share for the current fiscal year.

3M Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 22nd were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, May 22nd. 3M’s dividend payout ratio is 60.12%.

Analyst Upgrades and Downgrades

MMM has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their price target on 3M from $182.00 to $178.00 and set a “neutral” rating for the company in a report on Wednesday, April 22nd. The Goldman Sachs Group upgraded shares of 3M to a “buy” rating and set a $190.00 price objective on the stock in a research note on Monday, June 15th. Wells Fargo & Company boosted their target price on shares of 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 22nd. Royal Bank Of Canada decreased their target price on shares of 3M from $134.00 to $133.00 and set an “underperform” rating for the company in a research note on Wednesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of 3M from $181.00 to $171.00 and set a “hold” rating for the company in a report on Wednesday, April 22nd. Six equities 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, 3M presently has a consensus rating of “Hold” and an average target price of $170.00.

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).