DekaBank Deutsche Girozentrale Acquires 60,340 Shares of 3M Company (NYSE:MMM)

DekaBank Deutsche Girozentrale lifted its position in shares of 3M Company (NYSE:MMM - Free Report) by 16.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 429,471 shares of the conglomerate's stock after buying an additional 60,340 shares during the period. DekaBank Deutsche Girozentrale owned about 0.08% of 3M worth $61,397,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Brighton Jones LLC grew its position in 3M by 26.6% during the 4th quarter. Brighton Jones LLC now owns 8,898 shares of the conglomerate's stock worth $1,149,000 after acquiring an additional 1,872 shares during the last quarter. Proficio Capital Partners LLC bought a new position in 3M during the 4th quarter worth approximately $26,000. Assetmark Inc. grew its position in 3M by 80.2% during the 4th quarter. Assetmark Inc. now owns 1,173 shares of the conglomerate's stock worth $151,000 after acquiring an additional 522 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in 3M by 2.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 430,508 shares of the conglomerate's stock worth $55,574,000 after acquiring an additional 12,075 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in 3M by 1.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 152,183 shares of the conglomerate's stock worth $19,646,000 after acquiring an additional 2,377 shares during the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MMM. Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a research report on Friday, June 27th. JPMorgan Chase & Co. lifted their price objective on 3M from $140.00 to $167.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Citigroup lifted their price objective on 3M from $141.00 to $160.00 and gave the stock a "neutral" rating in a research report on Friday, May 30th. Wells Fargo & Company lifted their price objective on 3M from $150.00 to $170.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Finally, Royal Bank Of Canada lifted their price objective on 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 23rd. Two 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's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $156.33.

3M Stock Down 1.0%

NYSE:MMM traded down $1.59 during trading hours on Friday, reaching $155.73. 2,401,071 shares of the company traded hands, compared to its average volume of 3,802,883. The business's 50-day moving average price is $148.22 and its two-hundred day moving average price is $144.59. The stock has a market capitalization of $83.81 billion, a P/E ratio of 19.66, a P/E/G ratio of 3.04 and a beta of 1.02. 3M Company has a 1 year low of $100.87 and a 1 year high of $159.47. The company has a current ratio of 1.66, a quick ratio of 1.25 and a debt-to-equity ratio of 2.72.

3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings data 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 analysts' expectations of $5.78 billion. Analysts predict that 3M Company will post 7.8 earnings per share for the current year.

3M Announces Dividend

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

Insider Buying and Selling at 3M

In other news, EVP Zoe L. Dickson sold 7,915 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $149.02, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John Patrick Banovetz sold 7,759 shares of the business's stock in a transaction on 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 completion of the transaction, the executive vice president owned 31,372 shares of the company's stock, valued at $4,654,663.64. This represents a 19.83% decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by 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.