Flossbach Von Storch SE Has $117.46 Million Holdings in 3M Company (NYSE:MMM)

Flossbach Von Storch SE lowered its position in 3M Company (NYSE:MMM - Free Report) by 14.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 799,813 shares of the conglomerate's stock after selling 139,716 shares during the quarter. Flossbach Von Storch SE owned approximately 0.15% of 3M worth $117,461,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Norges Bank purchased a new position in 3M in the fourth quarter worth $636,767,000. Invesco Ltd. increased its position in shares of 3M by 51.6% in the fourth quarter. Invesco Ltd. now owns 4,468,549 shares of the conglomerate's stock valued at $576,845,000 after buying an additional 1,520,619 shares in the last quarter. D1 Capital Partners L.P. acquired a new stake in shares of 3M during the fourth quarter valued at $175,110,000. Capital World Investors boosted its stake in shares of 3M by 25.4% during the fourth quarter. Capital World Investors now owns 6,153,924 shares of the conglomerate's stock valued at $794,410,000 after acquiring an additional 1,248,093 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of 3M by 321.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,097,747 shares of the conglomerate's stock valued at $141,708,000 after acquiring an additional 837,226 shares during the last quarter. 65.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MMM has been the topic of a number of research analyst reports. Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a research note on Friday, June 27th. JPMorgan Chase & Co. boosted their price target on 3M from $140.00 to $167.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Citigroup boosted their price target on 3M from $141.00 to $160.00 and gave the stock a "neutral" rating in a research report on Friday, May 30th. Royal Bank Of Canada upped their target price on 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company boosted their price target on 3M from $150.00 to $170.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $156.33.

Insider Buying and Selling at 3M

In other news, EVP John Patrick Banovetz sold 7,759 shares of the company's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $148.37, for a total transaction of $1,151,202.83. Following the completion of the sale, the executive vice president directly owned 31,372 shares of the company's stock, valued at $4,654,663.64. This represents a 19.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Zoe L. Dickson sold 7,915 shares of the company's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $149.02, for a total value of $1,179,493.30. Following the transaction, the executive vice president directly owned 6,127 shares in the company, valued at $913,045.54. The trade was a 56.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company's stock.

3M Stock Performance

MMM stock traded down $1.59 during trading on Friday, reaching $155.73. 2,401,071 shares of the company's stock were exchanged, compared to its average volume of 3,801,196. The company has a quick ratio of 1.25, a current ratio of 1.66 and a debt-to-equity ratio of 2.72. 3M Company has a 1-year low of $100.87 and a 1-year high of $159.47. The company's fifty day moving average price is $148.22 and its 200-day moving average price is $144.49. The firm has a market cap of $83.81 billion, a PE ratio of 19.66, a P/E/G ratio of 3.07 and a beta of 1.02.

3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.77 by $0.11. The company had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.78 billion. 3M had a return on equity of 96.19% and a net margin of 17.79%. On average, research analysts expect that 3M Company will post 7.8 EPS for the current fiscal year.

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were issued a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.88%. 3M's dividend payout ratio (DPR) is 36.87%.

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.