3M Company $MMM Stock Acquired by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. increased its position in shares of 3M Company (NYSE:MMM) by 58.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 76,200 shares of the conglomerate’s stock after purchasing an additional 28,124 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in 3M were worth $12,508,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Diversify Advisory Services LLC grew its holdings in 3M by 5.2% in the 3rd quarter. Diversify Advisory Services LLC now owns 9,634 shares of the conglomerate’s stock valued at $1,593,000 after buying an additional 475 shares in the last quarter. Revisor Wealth Management LLC increased its position in 3M by 2.8% during the 3rd quarter. Revisor Wealth Management LLC now owns 2,492 shares of the conglomerate’s stock worth $411,000 after buying an additional 67 shares during the period. Blue Jean Financial LLC increased its position in 3M by 4.5% during the 3rd quarter. Blue Jean Financial LLC now owns 1,496 shares of the conglomerate’s stock worth $246,000 after buying an additional 64 shares during the period. 55 North Private Wealth LLC acquired a new stake in shares of 3M during the third quarter worth $211,000. Finally, Willis Investment Counsel lifted its holdings in shares of 3M by 2.9% during the third quarter. Willis Investment Counsel now owns 151,052 shares of the conglomerate’s stock worth $24,795,000 after buying an additional 4,212 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors.

Insider Transactions at 3M

In other 3M news, insider Karin Chavez sold 3,635 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $182.51, for a total transaction of $663,423.85. Following the sale, the insider directly owned 14,035 shares in the company, valued at $2,561,527.85. This represents a 20.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.19% of the stock is owned by insiders.

3M Price Performance

Shares of NYSE MMM opened at $173.62 on Friday. The business has a fifty day moving average price of $168.84 and a two-hundred day moving average price of $162.21. The stock has a market capitalization of $89.72 billion, a PE ratio of 25.88, a P/E/G ratio of 2.29 and a beta of 0.99. The company has a debt-to-equity ratio of 3.01, a current ratio of 1.41 and a quick ratio of 0.91. 3M Company has a fifty-two week low of $139.34 and a fifty-two week high of $184.90.

3M (NYSE:MMM) last released its earnings results on Tuesday, October 20th. The conglomerate reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.12. 3M had a return on equity of 123.11% and a net margin of 14.01%. The company had revenue of $6.60 billion for the quarter, compared to analyst estimates of $6.61 billion. During the same period in the prior year, the firm posted $2.19 EPS. 3M’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, equities analysts predict that 3M Company will post 9.14 earnings per share for the current fiscal year.

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Monday, August 24th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, August 24th. This represents a $3.12 annualized dividend and a yield of 1.8%. 3M’s dividend payout ratio is currently 46.50%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Sanford C. Bernstein boosted their target price on shares of 3M from $171.00 to $197.00 and gave the company a “market perform” rating in a research report on Wednesday. JPMorgan Chase & Co. raised their price target on shares of 3M from $185.00 to $191.00 and gave the stock an “overweight” rating in a research report on Wednesday. Weiss Ratings cut shares of 3M from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. The Goldman Sachs Group reiterated a “buy” rating on shares of 3M in a research note on Wednesday, July 22nd. Finally, Royal Bank Of Canada boosted their price objective on shares of 3M from $132.00 to $135.00 and gave the company an “underperform” rating in a report on Wednesday. Seven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $185.36.

3M Company Profile

3M is a diversified technology and manufacturing company headquartered in St. Paul, Minnesota. Founded in 1902 as Minnesota Mining and Manufacturing Company, it developed from a mining venture into a global enterprise known for applying materials science and engineering to a broad range of industrial, commercial and consumer applications.

The company develops and manufactures products including adhesives, abrasives, filtration systems, personal protective equipment, medical and dental supplies, electrical and electronic materials, automotive components, reflective materials and workplace safety solutions.