Mn Services Vermogensbeheer B.V. Lowers Holdings in 3M (NYSE:MMM)

Mn Services Vermogensbeheer B.V. decreased its position in 3M (NYSE:MMM) by 1.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 212,930 shares of the conglomerate’s stock after selling 4,100 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in 3M were worth $29,108,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. MFA Wealth Advisors LLC bought a new position in 3M in the second quarter worth approximately $28,000. Daymark Wealth Partners LLC increased its position in shares of 3M by 8.6% during the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 17,211 shares in the last quarter. McClarren Financial Advisors Inc. increased its position in shares of 3M by 118.6% during the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 121 shares in the last quarter. Meeder Asset Management Inc. increased its position in shares of 3M by 689.7% during the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 269 shares in the last quarter. Finally, TruNorth Capital Management LLC acquired a new position in shares of 3M during the second quarter worth $33,000. Institutional investors own 65.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MMM shares. Barclays upped their price target on 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Citigroup boosted their price objective on shares of 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Melius raised shares of 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Argus raised shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, October 28th. 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $139.27.

3M Stock Performance

NYSE:MMM traded up $0.41 during mid-day trading on Monday, hitting $127.63. The company’s stock had a trading volume of 506,906 shares, compared to its average volume of 4,893,422. The business’s fifty day moving average is $133.00 and its two-hundred day moving average is $115.48. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08. 3M has a 1 year low of $75.40 and a 1 year high of $141.34. The stock has a market cap of $69.50 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 2.07 and a beta of 0.95.

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

3M Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Monday, August 26th. 3M’s payout ratio is currently 35.35%.

Insider Transactions at 3M

In related news, Chairman Michael F. Roman sold 5,675 shares of the company’s stock in a transaction dated 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 transaction, the chairman now owns 174,036 shares in the company, valued at $21,486,484.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other 3M news, CFO Theresa E. Reinseth sold 2,100 shares of the stock in a transaction dated 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 in the company, valued at approximately $541,659.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Michael F. Roman sold 5,675 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total transaction of $700,635.50. Following 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

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.