Achmea Investment Management B.V. Raises Stake in 3M (NYSE:MMM)

Achmea Investment Management B.V. lifted its stake in shares of 3M (NYSE:MMM) by 7.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 32,777 shares of the conglomerate’s stock after purchasing an additional 2,178 shares during the quarter. Achmea Investment Management B.V.’s holdings in 3M were worth $3,349,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in MMM. Y.D. More Investments Ltd increased its stake in 3M by 2,140.0% in the 2nd quarter. Y.D. More Investments Ltd now owns 1,456 shares of the conglomerate’s stock valued at $149,000 after purchasing an additional 1,391 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new position in shares of 3M in the second quarter valued at $33,265,000. Fortune Financial Advisors LLC purchased a new position in shares of 3M in the second quarter valued at $204,000. American Century Companies Inc. raised its stake in shares of 3M by 0.8% during the 2nd quarter. American Century Companies Inc. now owns 82,161 shares of the conglomerate’s stock worth $8,396,000 after buying an additional 650 shares during the last quarter. Finally, Linscomb Wealth Inc. boosted its position in shares of 3M by 12.7% in the 2nd quarter. Linscomb Wealth Inc. now owns 2,261 shares of the conglomerate’s stock worth $231,000 after buying an additional 255 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Barclays raised their target price on shares of 3M from $120.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Morgan Stanley started coverage on 3M in a research report on Friday, September 6th. They set an “underweight” rating and a $125.00 price objective for the company. StockNews.com lowered 3M from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Argus raised 3M from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a research report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft upgraded 3M from a “hold” rating to a “buy” rating and upped their price objective for the company from $110.00 to $150.00 in a research report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, 3M has a consensus rating of “Hold” and a consensus target price of $124.43.

Insiders Place Their Bets

In related news, Chairman Michael F. Roman sold 5,675 shares of the stock in a transaction that occurred 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 approximately $21,486,484.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Chairman Michael F. Roman sold 5,675 shares of 3M 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 transaction, the chairman now owns 174,036 shares in the company, valued at approximately $21,486,484.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Theresa E. Reinseth sold 2,100 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now owns 4,364 shares of the company’s stock, valued at $541,659.68. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

3M Trading Up 0.9 %

Shares of MMM stock opened at $133.18 on Friday. 3M has a 1-year low of $71.12 and a 1-year high of $134.99. The firm’s 50-day simple moving average is $121.42 and its 200-day simple moving average is $106.34. The firm has a market cap of $73.16 billion, a P/E ratio of -10.47, a PEG ratio of 2.41 and a beta of 0.95. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.36 and a quick ratio of 1.08.

3M (NYSE:MMM) last posted its quarterly earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.25. 3M had a net margin of 3.08% and a return on equity of 112.92%. The company had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $5.85 billion. During the same quarter last year, the firm posted $2.17 earnings per share. As a group, equities analysts forecast that 3M will post 7.22 EPS for the current year.

3M Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date was Monday, August 26th. 3M’s dividend payout ratio (DPR) is presently -22.01%.

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.