Essential Partners LLC Cuts Holdings in 3M by 88.5%

Essential Partners LLC significantly reduced its holdings in 3M Company (NYSE:MMM) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor sold 7,298 shares of the conglomerate's stock, cutting its holdings by 88.5%. At the end of the quarter, Essential Partners LLC owned 945 shares of 3M worth $137,000.

3M has been in a 'Redemption Arc', according to analysts, and investors are eagerly awaiting the company's Q2 earnings report to see if it can change the narrative. The conglomerate reported a beat on its quarterly earnings, with EPS at $2.40, surpassing the consensus estimate of $2.25.

The business has set its FY 2026 guidance at 8.800-8.950 EPS and analysts anticipate that 3M will post 8.93 EPS for the current year.