NEOS Investment Management LLC Buys 9,965 Shares of 3M Company $MMM

NEOS Investment Management LLC raised its position in shares of 3M Company (NYSE:MMM) by 13.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 85,967 shares of the conglomerate’s stock after purchasing an additional 9,965 shares during the quarter. NEOS Investment Management LLC’s holdings in 3M were worth $13,919,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Commonwealth Retirement Investments LLC acquired a new position in 3M in the fourth quarter valued at $28,000. Sfam LLC bought a new stake in shares of 3M during the 4th quarter valued at about $45,000. Cornerstone Planning Group LLC grew its stake in 3M by 32.1% during the first quarter. Cornerstone Planning Group LLC now owns 292 shares of the conglomerate’s stock worth $42,000 after purchasing an additional 71 shares during the period. West Paces Advisors Inc. bought a new stake in 3M in the second quarter worth approximately $49,000. Finally, WFA of San Diego LLC acquired a new position in 3M in the second quarter valued at approximately $61,000. 65.25% of the stock is owned by institutional investors.

3M Trading Up 0.1%

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

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

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 24th will be paid a dividend of $0.78 per share. The ex-dividend date is Monday, August 24th. This represents a $3.12 annualized dividend and a yield of 1.9%. 3M’s dividend payout ratio (DPR) is 55.42%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Mizuho raised their price objective 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. Wolfe Research reiterated an “outperform” rating on shares of 3M in a research report on Thursday, July 9th. The Goldman Sachs Group reissued a “buy” rating on shares of 3M in a research note on Wednesday, July 22nd. Citigroup raised their price target on shares of 3M from $166.00 to $183.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $192.00 price objective on shares of 3M in a report on Wednesday, July 22nd. Eight investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $177.21.

Insider Transactions at 3M

In other 3M news, insider Karin Chavez sold 3,635 shares of 3M stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $182.51, for a total transaction of $663,423.85. Following the transaction, the insider directly owned 14,035 shares of the company’s stock, valued at $2,561,527.85. The trade was a 20.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is owned by corporate 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).