Achmea Investment Management B.V. Grows Holdings in 3M Company (NYSE:MMM)

Achmea Investment Management B.V. raised its holdings in shares of 3M Company (NYSE:MMM - Free Report) by 3.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 101,411 shares of the conglomerate's stock after purchasing an additional 3,808 shares during the period. Achmea Investment Management B.V.'s holdings in 3M were worth $14,893,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MMM. REAP Financial Group LLC lifted its stake in 3M by 88.7% during the 4th quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate's stock valued at $26,000 after acquiring an additional 94 shares during the period. Curat Global LLC purchased a new position in shares of 3M during the first quarter worth $29,000. Hazlett Burt & Watson Inc. acquired a new position in 3M during the fourth quarter valued at $27,000. Pinney & Scofield Inc. purchased a new stake in 3M in the fourth quarter valued at $28,000. Finally, Intelligent Financial Strategies acquired a new stake in 3M during the 1st quarter worth about $42,000. Hedge funds and other institutional investors own 65.25% of the company's stock.

Insider Activity

In related news, EVP John Patrick Banovetz sold 7,759 shares of the firm's stock in a transaction dated Friday, May 23rd. The shares were 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 in the company, valued at approximately $4,654,663.64. This trade represents a 19.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Zoe L. Dickson sold 7,915 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $149.02, for a total transaction of $1,179,493.30. Following the completion of the transaction, the executive vice president 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. Insiders own 0.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a research report on Friday. Bank of America increased their price target on 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. boosted their price objective on 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Citigroup upped their target price on 3M from $141.00 to $160.00 and gave the stock a "neutral" rating in a research note on Friday, May 30th. Finally, Barclays lifted their price target on shares of 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a research note on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $155.83.

3M Price Performance

MMM traded up $1.58 on Tuesday, reaching $153.82. 3,730,333 shares of the company's stock were exchanged, compared to its average volume of 3,790,065. 3M Company has a twelve month low of $98.26 and a twelve month high of $156.35. The stock has a market cap of $82.78 billion, a PE ratio of 19.42, a P/E/G ratio of 3.15 and a beta of 1.03. The company has a debt-to-equity ratio of 2.72, a current ratio of 1.66 and a quick ratio of 1.25. The stock's fifty day moving average price is $145.36 and its 200-day moving average price is $143.10.

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

3M Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 1.90%. 3M's payout ratio 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.