Belmont Capital LLC Cuts Stock Position in 3M (NYSE:MMM)

18 Apr 2025, 13:00 by Sarita Garza · The Markets Daily

Belmont Capital LLC reduced its position in 3M (NYSE:MMM – Free Report) by 78.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,603 shares of the conglomerate’s stock after selling 5,941 shares during the quarter. Belmont Capital LLC’s holdings in 3M were worth $207,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Investors Asset Management of Georgia Inc. GA ADV lifted its stake in 3M by 1.3% in the fourth quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,377 shares of the conglomerate’s stock valued at $694,000 after buying an additional 67 shares during the period. Parkside Financial Bank & Trust increased its stake in shares of 3M by 1.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 5,153 shares of the conglomerate’s stock valued at $665,000 after acquiring an additional 70 shares during the last quarter. LaSalle St. Investment Advisors LLC increased its stake in shares of 3M by 2.5% in the 4th quarter. LaSalle St. Investment Advisors LLC now owns 2,951 shares of the conglomerate’s stock valued at $381,000 after acquiring an additional 71 shares during the last quarter. Gilbert & Cook Inc. boosted its stake in 3M by 1.5% during the 4th quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate’s stock worth $659,000 after acquiring an additional 73 shares during the last quarter. Finally, Childress Capital Advisors LLC grew its holdings in 3M by 5.1% during the fourth quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate’s stock valued at $203,000 after purchasing an additional 76 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Wells Fargo & Company raised 3M from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of 3M in a report on Tuesday, April 8th. Royal Bank of Canada restated an “underperform” rating and set a $96.00 target price on shares of 3M in a report on Thursday, February 27th. Bank of America upped their price target on shares of 3M from $175.00 to $179.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Finally, Barclays cut their price objective on shares of 3M from $165.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $146.47.

Check Out Our Latest Research Report on MMM

3M Price Performance

Shares of NYSE:MMM opened at $130.16 on Friday. The company has a market capitalization of $70.20 billion, a P/E ratio of 17.24, a price-to-earnings-growth ratio of 3.30 and a beta of 1.01. The company’s 50-day moving average is $144.93 and its 200 day moving average is $138.26. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. 3M has a fifty-two week low of $90.65 and a fifty-two week high of $156.35.

3M (NYSE:MMM – Get Free Report) last issued its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The firm had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.77 billion. During the same quarter in the prior year, the firm earned $2.42 EPS. The business’s revenue for the quarter was down 25.0% compared to the same quarter last year. On average, equities research analysts forecast that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were issued a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 2.24%. This is an increase from 3M’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, February 14th. 3M’s dividend payout ratio (DPR) is presently 38.68%.

Insider Activity

In other news, EVP Victoria Clarke sold 1,750 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $154.22, for a total value of $269,885.00. Following the completion of the transaction, the executive vice president now directly owns 194 shares in the company, valued at approximately $29,918.68. This represents a 90.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Michael F. Roman sold 49,598 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $152.30, for a total value of $7,553,775.40. Following the completion of the sale, the chairman now directly owns 180,895 shares of the company’s stock, valued at approximately $27,550,308.50. This represents a 21.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,639 shares of company stock worth $17,163,446 in the last three months. Corporate insiders own 0.48% of the company’s stock.

3M Company Profile

(Free Report)

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.