Mn Services Vermogensbeheer B.V. Purchases 4,200 Shares of 3M (NYSE:MMM)

Mn Services Vermogensbeheer B.V. increased its position in 3M (NYSE:MMM) by 2.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 217,130 shares of the conglomerate’s stock after acquiring an additional 4,200 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in 3M were worth $28,029,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of MMM. Assenagon Asset Management S.A. grew its holdings in 3M by 8.9% during the third quarter. Assenagon Asset Management S.A. now owns 22,465 shares of the conglomerate’s stock valued at $3,071,000 after purchasing an additional 1,844 shares during the period. Pallas Capital Advisors LLC grew its holdings in 3M by 27.5% during the third quarter. Pallas Capital Advisors LLC now owns 10,806 shares of the conglomerate’s stock valued at $1,367,000 after purchasing an additional 2,333 shares during the period. Smith Group Asset Management LLC bought a new stake in 3M during the third quarter valued at about $343,000. Integrated Advisors Network LLC lifted its position in shares of 3M by 68.7% in the third quarter. Integrated Advisors Network LLC now owns 12,715 shares of the conglomerate’s stock valued at $1,738,000 after acquiring an additional 5,180 shares in the last quarter. Finally, Valmark Advisers Inc. lifted its position in shares of 3M by 2.9% in the third quarter. Valmark Advisers Inc. now owns 5,263 shares of the conglomerate’s stock valued at $719,000 after acquiring an additional 147 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Citigroup boosted their price objective on 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Barclays boosted their price objective on 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $130.00 to $184.00 in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada reissued an “underperform” rating and set a $96.00 price objective on shares of 3M in a report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.87.

3M Stock Up 0.6 %

MMM stock opened at $147.39 on Thursday. The company’s 50 day moving average price is $141.75 and its 200 day moving average price is $135.09. The firm has a market capitalization of $80.02 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 3.30 and a beta of 0.96. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $155.00. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The company’s quarterly revenue was down 25.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.42 EPS. On average, equities research analysts anticipate that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be given a dividend of $0.73 per share. This is a boost from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Friday, February 14th. 3M’s dividend payout ratio is currently 38.68%.

Insider Activity

In related news, insider Christian T. Goralski, Jr. sold 6,318 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $149.43, for a total value of $944,098.74. Following the transaction, the insider now directly owns 5,024 shares of the company’s stock, valued at $750,736.32. This trade represents a 55.70 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Victoria Clarke sold 1,750 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $154.22, for a total transaction of $269,885.00. Following the completion of the sale, the executive vice president now directly owns 194 shares of the company’s stock, valued at approximately $29,918.68. This trade represents a 90.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,639 shares of company stock worth $17,163,446. 0.34% of the stock is currently owned by insiders.

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.