Cheviot Value Management LLC Buys 4,510 Shares of 3M Company $MMM

Cheviot Value Management LLC grew its stake in 3M Company (NYSE:MMM) by 4,510.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,610 shares of the conglomerate’s stock after purchasing an additional 4,510 shares during the quarter. Cheviot Value Management LLC’s holdings in 3M were worth $769,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of 3M by 12.0% in the 2nd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 40,875 shares of the conglomerate’s stock worth $6,218,000 after acquiring an additional 4,384 shares in the last quarter. Duncan Williams Asset Management LLC purchased a new stake in 3M in the second quarter worth $425,000. Fairfield Financial Advisors LTD purchased a new stake in 3M in the second quarter worth $1,303,000. Segall Bryant & Hamill LLC bought a new position in 3M in the second quarter worth $8,594,000. Finally, Knights of Columbus Asset Advisors LLC lifted its position in 3M by 2.1% during the second quarter. Knights of Columbus Asset Advisors LLC now owns 77,624 shares of the conglomerate’s stock valued at $11,817,000 after buying an additional 1,595 shares during the period. 65.25% of the stock is owned by hedge funds and other institutional investors.

3M Trading Up 1.1%

Shares of MMM stock opened at $162.47 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.40 and a debt-to-equity ratio of 2.30. 3M Company has a 12-month low of $121.98 and a 12-month high of $174.69. The stock has a market capitalization of $86.31 billion, a P/E ratio of 27.08, a P/E/G ratio of 2.26 and a beta of 1.09. The firm’s 50 day moving average is $165.27 and its 200 day moving average is $159.75.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, January 20th. The conglomerate reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.03. 3M had a return on equity of 95.36% and a net margin of 13.03%.The firm had revenue of $6.13 billion for the quarter, compared to analysts’ expectations of $6.03 billion. During the same period in the prior year, the firm earned $1.68 EPS. The company’s revenue was up 1.5% compared to the same quarter last year. 3M has set its FY 2026 guidance at 8.50-8.700 EPS. Research analysts expect that 3M Company will post 7.8 earnings per share for the current year.

3M Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 14th were paid a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, November 14th. 3M’s dividend payout ratio is 48.67%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MMM. Morgan Stanley upped their target price on shares of 3M from $160.00 to $165.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of 3M from $179.00 to $181.00 and gave the stock a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $182.00 price target on shares of 3M in a research report on Friday, January 16th. Wells Fargo & Company cut their price target on 3M from $183.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of 3M in a research report on Wednesday. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $175.36.

Insider Buying and Selling

In related news, EVP Zoe L. Dickson sold 13,826 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $169.78, for a total transaction of $2,347,378.28. Following the completion of the sale, the executive vice president directly owned 6,162 shares in the company, valued at approximately $1,046,184.36. The trade was a 69.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark W. Murphy sold 19,061 shares of the stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $166.55, for a total transaction of $3,174,609.55. Following the completion of the transaction, the executive vice president owned 6,594 shares in the company, valued at $1,098,230.70. The trade was a 74.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 46,516 shares of company stock worth $7,836,465. 0.34% of the stock is currently owned by insiders.

3M Company 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).