Raiffeisen Bank International AG Sells 5,726 Shares of 3M Company $MMM

Raiffeisen Bank International AG trimmed its stake in shares of 3M Company (NYSE:MMM) by 33.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,398 shares of the conglomerate’s stock after selling 5,726 shares during the quarter. Raiffeisen Bank International AG’s holdings in 3M were worth $1,851,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. denkapparat Operations GmbH acquired a new stake in 3M in the second quarter valued at approximately $614,000. Premier Path Wealth Partners LLC increased its holdings in shares of 3M by 5.6% during the second quarter. Premier Path Wealth Partners LLC now owns 6,852 shares of the conglomerate’s stock worth $1,109,000 after buying an additional 365 shares in the last quarter. NEOS Investment Management LLC lifted its stake in shares of 3M by 13.1% in the 2nd quarter. NEOS Investment Management LLC now owns 85,967 shares of the conglomerate’s stock valued at $13,919,000 after acquiring an additional 9,965 shares during the last quarter. High Net Worth Advisory Group LLC acquired a new stake in shares of 3M during the 2nd quarter valued at $215,000. Finally, Strengthening Families & Communities LLC boosted its holdings in shares of 3M by 4.0% during the 2nd quarter. Strengthening Families & Communities LLC now owns 23,570 shares of the conglomerate’s stock valued at $3,816,000 after acquiring an additional 907 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

3M Trading Up 0.1%

Shares of MMM stock opened at $168.44 on Friday. 3M Company has a 1-year low of $139.34 and a 1-year high of $184.90. The company has a current ratio of 1.24, a quick ratio of 0.91 and a debt-to-equity ratio of 3.63. The stock has a market cap of $86.87 billion, a price-to-earnings ratio of 29.92, a PEG ratio of 2.22 and a beta of 1.01. The stock has a 50-day moving average of $171.58 and a 200-day moving average of $159.35.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, July 21st. The conglomerate reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.15. 3M had a return on equity of 115.87% and a net margin of 11.90%.The company had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.40 billion. During the same period in the previous year, the firm earned $2.16 earnings per share. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. On average, equities research analysts forecast that 3M Company will post 8.96 earnings per share for the current year.

3M Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 24th will be given a $0.78 dividend. The ex-dividend date is Monday, August 24th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.9%. 3M’s payout ratio is 55.42%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Wolfe Research reaffirmed an “outperform” rating on shares of 3M in a report on Thursday, July 9th. Jefferies Financial Group raised their price objective on shares of 3M from $170.00 to $175.00 and gave the company a “hold” rating in a report on Monday, June 29th. Mizuho lifted their target price on shares of 3M from $160.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. Royal Bank Of Canada boosted their target price on shares of 3M from $123.00 to $132.00 and gave the stock an “underperform” rating in a report on Wednesday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $192.00 price target on shares of 3M in a research note on Wednesday, July 22nd. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $177.21.

Insider Activity at 3M

In other news, insider Karin Chavez sold 3,635 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $182.51, for a total value of $663,423.85. Following the sale, the insider directly owned 14,035 shares of the company’s stock, valued at approximately $2,561,527.85. This represents a 20.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.19% of the company’s stock.

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).