Robeco Institutional Asset Management B.V. Raises Stock Holdings in 3M (NYSE:MMM)

Robeco Institutional Asset Management B.V. grew its holdings in shares of 3M (NYSE:MMM) by 55.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 549,274 shares of the conglomerate’s stock after buying an additional 195,191 shares during the period. Robeco Institutional Asset Management B.V. owned 0.10% of 3M worth $75,086,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Fort L.P. bought a new stake in 3M during the 3rd quarter valued at about $201,000. Angeles Wealth Management LLC purchased a new position in 3M in the 3rd quarter worth approximately $257,000. Van ECK Associates Corp lifted its position in 3M by 11.0% in the 3rd quarter. Van ECK Associates Corp now owns 88,912 shares of the conglomerate’s stock valued at $11,373,000 after acquiring an additional 8,816 shares in the last quarter. REDW Wealth LLC purchased a new stake in 3M during the 3rd quarter valued at $209,000. Finally, Pure Financial Advisors LLC bought a new stake in shares of 3M in the 3rd quarter worth $335,000. Institutional investors own 65.25% of the company’s stock.

Insider Transactions at 3M

In other news, Chairman Michael F. Roman sold 5,675 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total transaction of $700,635.50. Following the completion of the sale, the chairman now owns 174,036 shares of the company’s stock, valued at $21,486,484.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MMM. Royal Bank of Canada raised their price target on 3M from $99.00 to $100.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 23rd. Melius raised 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Wells Fargo & Company boosted their target price on shares of 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft upgraded 3M from a “hold” rating to a “buy” rating and raised their price target for the company from $110.00 to $150.00 in a report on Monday, July 29th. Finally, Barclays upped their target price on shares of 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $139.27.

3M Trading Down 1.1 %

NYSE:MMM opened at $125.85 on Tuesday. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. The firm has a fifty day simple moving average of $132.88 and a 200-day simple moving average of $115.73. 3M has a 12 month low of $75.40 and a 12 month high of $141.34. The company has a market capitalization of $68.53 billion, a P/E ratio of 15.89, a PEG ratio of 2.07 and a beta of 0.95.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.05. The company had revenue of $6.29 billion during the quarter, compared to analyst estimates of $6.06 billion. 3M had a net margin of 15.37% and a return on equity of 104.66%. 3M’s revenue for the quarter was down 24.3% compared to the same quarter last year. During the same period last year, the firm posted $2.68 EPS. On average, equities research analysts anticipate that 3M will post 7.28 earnings per share for the current year.

3M Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend was Monday, August 26th. 3M’s payout ratio is presently 35.35%.

3M Profile

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.