Mn Services Vermogensbeheer B.V. Sells 4,100 Shares of 3M (NYSE:MMM)

Mn Services Vermogensbeheer B.V. reduced its stake in 3M (NYSE:MMM) by 1.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 212,930 shares of the conglomerate’s stock after selling 4,100 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in 3M were worth $29,108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. QRG Capital Management Inc. boosted its holdings in shares of 3M by 1.4% in the 3rd quarter. QRG Capital Management Inc. now owns 14,319 shares of the conglomerate’s stock worth $1,957,000 after purchasing an additional 199 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of 3M by 2.9% in the 3rd quarter. Asset Management One Co. Ltd. now owns 351,828 shares of the conglomerate’s stock worth $48,095,000 after purchasing an additional 9,901 shares in the last quarter. National Pension Service boosted its holdings in shares of 3M by 14.5% in the 3rd quarter. National Pension Service now owns 1,268,003 shares of the conglomerate’s stock worth $173,336,000 after purchasing an additional 161,036 shares in the last quarter. Roman Butler Fullerton & Co. purchased a new position in shares of 3M in the 3rd quarter worth about $206,000. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in 3M by 55.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 549,274 shares of the conglomerate’s stock valued at $75,086,000 after acquiring an additional 195,191 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Stock Up 0.3 %

MMM traded up $0.41 during trading on Monday, hitting $127.63. 506,906 shares of the company’s stock traded hands, compared to its average volume of 4,893,422. The company’s 50 day simple moving average is $133.00 and its two-hundred day simple moving average is $115.48. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. 3M has a 12-month low of $75.40 and a 12-month high of $141.34. The stock has a market capitalization of $69.50 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 2.07 and a beta of 0.95.

3M (NYSE:MMM) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, beating the consensus estimate of $1.93 by $0.05. 3M had a return on equity of 104.66% and a net margin of 15.37%. The business had revenue of $6.29 billion for the quarter, compared to the consensus estimate of $6.06 billion. During the same period last year, the business posted $2.68 EPS. The company’s revenue was down 24.3% compared to the same quarter last year. Analysts predict that 3M will post 7.28 earnings per share for the current fiscal year.

3M Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were paid a $0.70 dividend. The ex-dividend date was Monday, August 26th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.19%. 3M’s dividend payout ratio (DPR) is currently 35.35%.

Analyst Ratings Changes

Several brokerages recently weighed in on MMM. Royal Bank of Canada increased their target price on 3M from $99.00 to $100.00 and gave the company an “underperform” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their target price on 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Argus upgraded 3M from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a report on Tuesday, July 30th. Melius Research raised 3M from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a research report on Tuesday, October 22nd. Finally, Bank of America upped their price target on 3M from $143.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $139.27.

Insider Transactions at 3M

In related news, Chairman Michael F. Roman sold 5,675 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the transaction, the chairman now directly owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman Michael F. Roman sold 5,675 shares of 3M stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the completion of the transaction, the chairman now owns 174,036 shares in the company, valued at approximately $21,486,484.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Theresa E. Reinseth sold 2,100 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total value of $260,652.00. Following the transaction, the chief financial officer now owns 4,364 shares of the company’s stock, valued at $541,659.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

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.