Rep. Josh Gottheimer Buys 3M (NYSE:MMM) Stock

Representative Josh Gottheimer (D-New Jersey) recently bought shares of 3M (NYSE:MMM). In a filing disclosed on February 10th, the Representative disclosed that they had bought between $1,001 and $15,000 in 3M stock on January 21st. The trade occurred in the Representative’s “MORGAN STANLEY – SELECT UMA ACCOUNT # 1” account.

Representative Josh Gottheimer also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 1/31/2025.
• Sold $1,001 – $15,000 in shares of Arista Networks (NYSE:ANET) on 1/31/2025.
• Purchased $1,001 – $15,000 in shares of Visa (NYSE:V) on 1/31/2025.
• Purchased $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 1/31/2025.
• Purchased $1,001 – $15,000 in shares of Alibaba Group (NYSE:BABA) on 1/31/2025.
• Purchased $1,001 – $15,000 in shares of Twilio (NYSE:TWLO) on 1/31/2025.
• Sold $1,001 – $15,000 in shares of ICF International (NASDAQ:ICFI) on 1/31/2025.
• Purchased $1,001 – $15,000 in shares of Mastercard (NYSE:MA) on 1/31/2025.
• Purchased $1,001 – $15,000 in shares of Visa (NYSE:V) on 1/30/2025.
• Purchased $1,001 – $15,000 in shares of 3M (NYSE:MMM) on 1/30/2025.

3M Price Performance

Shares of NYSE:MMM traded down $1.21 during trading on Wednesday, hitting $148.86. 2,102,851 shares of the company’s stock were exchanged, compared to its average volume of 4,161,988. The business’s 50-day simple moving average is $137.82 and its 200 day simple moving average is $133.41. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. 3M has a 52-week low of $75.40 and a 52-week high of $155.00. The company has a market cap of $80.82 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 3.37 and a beta of 0.96.

3M (NYSE:MMM) last posted its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.02. The company had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. 3M’s quarterly revenue was down 25.0% on a year-over-year basis. During the same period last year, the company posted $2.42 earnings per share. As a group, equities analysts predict that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.73 per share. The ex-dividend date is Friday, February 14th. This is a boost from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 dividend on an annualized basis and a yield of 1.96%. 3M’s dividend payout ratio (DPR) is currently 37.09%.

Analyst Ratings Changes

Several research firms recently commented on MMM. Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $140.00 to $170.00 in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their price objective on shares of 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Bank of America boosted their price objective on shares of 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Melius Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a report on Tuesday, October 22nd. Finally, Mizuho lifted their target price on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $148.87.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp increased its position in 3M by 1.1% during the third quarter. State Street Corp now owns 27,194,612 shares of the conglomerate’s stock worth $3,717,503,000 after purchasing an additional 302,900 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of 3M by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 11,574,414 shares of the conglomerate’s stock valued at $1,493,655,000 after buying an additional 280,048 shares during the period. FMR LLC increased its holdings in shares of 3M by 88.7% during the 3rd quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock worth $1,225,087,000 after buying an additional 4,212,409 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of 3M by 9.2% during the 4th quarter. Bank of New York Mellon Corp now owns 5,689,486 shares of the conglomerate’s stock valued at $734,456,000 after buying an additional 479,621 shares during the period. Finally, Norges Bank acquired a new position in 3M in the fourth quarter valued at approximately $636,767,000. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Theresa E. Reinseth sold 2,309 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $149.95, for a total value of $346,234.55. Following the transaction, the chief accounting officer now directly owns 4,417 shares in the company, valued at approximately $662,329.15. This represents a 34.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Michael F. Roman sold 45,276 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $150.01, for a total value of $6,791,852.76. Following the completion of the sale, the chairman now directly owns 175,718 shares in the company, valued at approximately $26,359,457.18. The trade was a 20.49 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 113,639 shares of company stock worth $17,163,446. Company insiders own 0.34% of the company’s stock.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey’s 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2027.

Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey’s 5th Congressional District. He declared candidacy for the 2026 election.

Gottheimer is also running for election for Governor of New Jersey. He declared candidacy for the Democratic primary scheduled on June 10, 2025.

Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

About 3M

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.