99,402 Shares in 3M Company (NYSE:MMM) Purchased by ASR Vermogensbeheer N.V.

Key Points

• ASR Vermogensbeheer N.V. invested approximately $14.60 million in 3M Company by acquiring 99,402 shares, as reported in their latest 13F filing.
• 3M recently beat earnings estimates with $2.16 earnings per share for the quarter, exceeding the consensus estimate by $0.15 and reporting a 1.4% increase in revenue year-over-year.
• Insider activity includes notable sales by executives, with EVP John Patrick Banovetz selling 7,759 shares, reducing his stake by 19.83%.

ASR Vermogensbeheer N.V. bought a new stake in shares of 3M Company (NYSE:MMM - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 99,402 shares of the conglomerate's stock, valued at approximately $14,598,000.

Several other institutional investors and hedge funds have also bought and sold shares of MMM. LaSalle St. Investment Advisors LLC lifted its stake in 3M by 2.5% in the fourth quarter. LaSalle St. Investment Advisors LLC now owns 2,951 shares of the conglomerate's stock worth $381,000 after acquiring an additional 71 shares during the period. TCV Trust & Wealth Management Inc. raised its position in shares of 3M by 1.1% in the 1st quarter. TCV Trust & Wealth Management Inc. now owns 6,497 shares of the conglomerate's stock worth $954,000 after purchasing an additional 73 shares during the last quarter. Cahaba Wealth Management Inc. increased its holdings in shares of 3M by 1.4% in the 1st quarter. Cahaba Wealth Management Inc. now owns 5,580 shares of the conglomerate's stock worth $819,000 after purchasing an additional 75 shares in the last quarter. Altman Advisors Inc. raised its position in 3M by 0.5% in the 1st quarter. Altman Advisors Inc. now owns 16,690 shares of the conglomerate's stock worth $2,318,000 after buying an additional 76 shares during the last quarter. Finally, NBT Bank N A NY boosted its holdings in 3M by 0.8% in the first quarter. NBT Bank N A NY now owns 9,744 shares of the conglomerate's stock worth $1,431,000 after purchasing an additional 79 shares during the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

3M Stock Up 1.0%

Shares of 3M stock traded up $1.59 on Friday, reaching $153.33. The stock had a trading volume of 2,375,683 shares, compared to its average volume of 4,166,032. The company has a 50 day moving average price of $149.98 and a 200 day moving average price of $146.96. 3M Company has a 1 year low of $121.98 and a 1 year high of $164.15. The stock has a market capitalization of $81.67 billion, a P/E ratio of 21.33, a P/E/G ratio of 2.97 and a beta of 1.05. The company has a quick ratio of 1.20, a current ratio of 1.72 and a debt-to-equity ratio of 2.87.

3M (NYSE:MMM - Get Free Report) last issued its earnings results on Friday, July 18th. The conglomerate reported $2.16 EPS for the quarter, beating analysts' consensus estimates of $2.01 by $0.15. The firm had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.09 billion. 3M had a return on equity of 96.48% and a net margin of 16.01%. 3M's revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.93 earnings per share. As a group, equities research analysts forecast 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 issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.9%. 3M's dividend payout ratio is currently 40.61%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Citigroup boosted their price target on 3M from $141.00 to $160.00 and gave the company a "neutral" rating in a research note on Friday, May 30th. JPMorgan Chase & Co. set a $167.00 price target on shares of 3M in a research note on Friday, July 18th. Wells Fargo & Company reissued an "overweight" rating on shares of 3M in a report on Friday, July 18th. Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a research report on Tuesday, July 29th. Finally, Barclays set a $170.00 price target on 3M in a report on Friday, July 18th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $158.10.

Insider Activity

In related news, EVP Zoe L. Dickson sold 7,915 shares of the business's stock in a transaction on 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 approximately $913,045.54. The trade was a 56.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP John Patrick Banovetz sold 7,759 shares of 3M stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $148.37, for a total value of $1,151,202.83. Following the sale, the executive vice president owned 31,372 shares in the company, valued at $4,654,663.64. This trade represents a 19.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,316 shares of company stock worth $3,780,296 over the last quarter. 0.34% of the stock is currently owned by corporate insiders.

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.