3M falls as 2026 outlook and revenue picture overshadow Q4 profit beat

3M Company (MMM) is down 3.9% today. Here is some analysis on what might have caused this price movement.

Analysis: The move appears tied to investor reaction to 3M’s latest quarterly results and, more importantly, its initial full-year 2026 outlook. Even with better-than-expected adjusted earnings and solid cash generation, the market seemed to focus on a softer revenue trajectory and guidance that left little room for upside.

Details:

3M reported fourth-quarter and full-year 2025 results and initiated full-year 2026 financial guidance in its earnings materials.

The company guided to 2026 adjusted EPS of $8.50 to $8.70 and approximately 3% organic sales growth, which some investors viewed as conservative versus expectations.

Management highlighted strong cash conversion and continued capital returns (including planned share repurchases), but that support was not enough to offset concerns about the outlook.

This could also be amplified by broader market risk-off trading, where “good-but-not-great” guidance can prompt quick profit-taking after a prior run-up.

Sources:

3M Investor Relations, MarketBeat, Schaeffer's Research

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$MMM Insider Trading Activity

$MMM insiders have traded $MMM stock on the open market 71 times in the past 6 months. Of those trades, 0 have been purchases and 71 have been sales.

Here’s a breakdown of recent trading of $MMM stock by insiders over the last 6 months:

ZOE L DICKSON (EVP & Chief HR Officer) has made 0 purchases and 46 sales selling 52,510 shares for an estimated $8,929,778.
MARK W. MURPHY (EVP & Chief Info Digital Off) has made 0 purchases and 20 sales selling 19,061 shares for an estimated $3,174,589.
THERESA E REINSETH (Sr Vice President & CAO) has made 0 purchases and 5 sales selling 5,145 shares for an estimated $888,795.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$MMM Hedge Fund Activity

We have seen 895 institutional investors add shares of $MMM stock to their portfolio, and 987 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

AUTO-OWNERS INSURANCE CO added 14,492,699 shares (+24651.6%) to their portfolio in Q4 2025, for an estimated $2,320,281,109
UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 10,018,227 shares (-73.8%) from their portfolio in Q4 2025, for an estimated $1,603,918,142
KINGSTONE CAPITAL PARTNERS TEXAS, LLC removed 5,826,522 shares (-100.0%) from their portfolio in Q3 2025, for an estimated $904,159,683
DZ BANK AG DEUTSCHE ZENTRAL GENOSSENSCHAFTS BANK, FRANKFURT AM MAIN added 1,965,837 shares (+46.3%) to their portfolio in Q4 2025, for an estimated $314,730,503
CITADEL ADVISORS LLC removed 1,845,501 shares (-75.1%) from their portfolio in Q4 2025, for an estimated $295,464,710
D. E. SHAW & CO., INC. added 1,219,400 shares (+225.0%) to their portfolio in Q4 2025, for an estimated $195,225,940
NORGES BANK added 1,186,313 shares (+14.3%) to their portfolio in Q4 2025, for an estimated $189,928,711

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$MMM Government Contracts

We have seen $40,328,097 of award payments to $MMM over the last year.

Here are some of the awards which we have have seen pay out the most over the last year:

SOLE SOURCE AWARD FOR RENEWAL OF SOLVENTUM HIS CRS+ ENCODER SOFTWARE LICENSES AND SUPPORT SERVICES FOR VA H...: $12,015,798
MAINTENANCE OF THE GROUPERS: $3,152,557
3M SOFTWARE: $1,664,799
8511291661!HEADSET-MICROPHONE: $1,517,169
8511255289!HEADSET-MICROPHONE: $1,517,169

To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard.

$MMM Congressional Stock Trading

Members of Congress have traded $MMM stock 3 times in the past 6 months. Of those trades, 0 have been purchases and 3 have been sales.

Here’s a breakdown of recent trading of $MMM stock by members of Congress over the last 6 months:

REPRESENTATIVE JULIE JOHNSON has traded it 2 times. They made 0 purchases and 2 sales worth up to $30,000 on 12/18, 11/13.
REPRESENTATIVE JOSH GOTTHEIMER sold up to $15,000 on 10/20.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.

$MMM Analyst Ratings

Wall Street analysts have issued reports on $MMM in the last several months. We have seen 4 firms issue buy ratings on the stock, and 1 firms issue sell ratings.

Here are some recent analyst ratings:

Wells Fargo issued a "Overweight" rating on 01/21/2026
RBC Capital issued a "Underperform" rating on 10/22/2025
UBS issued a "Buy" rating on 10/22/2025
Barclays issued a "Overweight" rating on 10/22/2025
JP Morgan issued a "Overweight" rating on 10/15/2025

To track analyst ratings and price targets for $MMM, check out Quiver Quantitative's $MMM forecast page.

$MMM Price Targets

Multiple analysts have issued price targets for $MMM recently. We have seen 8 analysts offer price targets for $MMM in the last 6 months, with a median target of $178.0.

Here are some recent targets:

Joe O'Dea from Wells Fargo set a target price of $175.0 on 01/21/2026
Chris Snyder from Morgan Stanley set a target price of $165.0 on 01/21/2026
Deane Dray from RBC Capital set a target price of $136.0 on 01/21/2026
Nicole Deblase from Deutsche Bank set a target price of $181.0 on 01/21/2026
Andrew Kaplowitz from Citigroup set a target price of $175.0 on 01/21/2026
Stephen Tusa from JP Morgan set a target price of $182.0 on 01/16/2026
Julian Mitchell from Barclays set a target price of $190.0 on 12/04/2025

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.