3M (NYSE:MMM) Shares Bought by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. grew its stake in 3M (NYSE:MMM) by 55.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 549,274 shares of the conglomerate’s stock after purchasing an additional 195,191 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in 3M were worth $75,086,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Capital World Investors acquired a new stake in shares of 3M during the first quarter worth about $165,986,000. International Assets Investment Management LLC lifted its position in 3M by 11,601.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate’s stock worth $172,416,000 after acquiring an additional 1,250,491 shares during the period. National Bank of Canada FI grew its stake in shares of 3M by 218.3% in the 1st quarter. National Bank of Canada FI now owns 1,489,351 shares of the conglomerate’s stock valued at $147,344,000 after purchasing an additional 1,021,440 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of 3M by 1,015.6% in the first quarter. Janus Henderson Group PLC now owns 888,564 shares of the conglomerate’s stock valued at $94,247,000 after purchasing an additional 808,914 shares during the period. Finally, Electron Capital Partners LLC acquired a new stake in shares of 3M during the second quarter worth $76,732,000. 65.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MMM has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised shares of 3M from a “hold” rating to a “buy” rating and increased their price target for the stock from $110.00 to $150.00 in a report on Monday, July 29th. Morgan Stanley started coverage on shares of 3M in a research note on Friday, September 6th. They set an “underweight” rating and a $125.00 price objective for the company. StockNews.com lowered shares of 3M from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Melius upgraded 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Finally, Mizuho increased their target price on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $139.27.

3M Stock Performance

Shares of MMM stock opened at $125.85 on Tuesday. The company has a market capitalization of $68.53 billion, a price-to-earnings ratio of 15.89, a P/E/G ratio of 2.07 and a beta of 0.95. 3M has a 1-year low of $75.40 and a 1-year high of $141.34. 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 stock’s fifty day simple moving average is $132.88 and its 200-day simple moving average is $115.73.

3M (NYSE:MMM) last released its 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. 3M had a net margin of 15.37% and a return on equity of 104.66%. The company had revenue of $6.29 billion during the quarter, compared to the consensus estimate of $6.06 billion. During the same quarter in the prior year, the firm earned $2.68 EPS. The company’s revenue was down 24.3% compared to the same quarter last year. On average, sell-side analysts predict that 3M will post 7.28 earnings per share for the current fiscal year.

3M Announces Dividend

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 dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend was Monday, August 26th. 3M’s dividend payout ratio (DPR) is presently 35.35%.

Insider Activity

In related news, Chairman Michael F. Roman sold 5,675 shares of the stock in a transaction that occurred 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 owns 174,036 shares in the company, valued at approximately $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 SEC, which is accessible through this link. 0.34% of the stock is owned by corporate insiders.

3M Company 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.