Robeco Institutional Asset Management B.V. Buys 28,124 Shares of 3M Company $MMM

Key Points

• Robeco Institutional Asset Management increased its 3M position by 58.5% in the third quarter, adding 28,124 shares for a total of 76,200 shares valued at approximately $12.5 million. Institutional investors collectively own 65.25% of 3M.
• Analysts maintain a generally cautious outlook, with a consensus “Hold” rating and an average price target of $185.36; recent targets range from $186 to $191.
• 3M reported quarterly EPS of $2.50, above the $2.38 consensus estimate, while revenue rose 1.5% year over year to $6.60 billion. The company also maintains a quarterly dividend of $0.78, equivalent to a 1.8% annual yield.

Robeco Institutional Asset Management B.V. lifted its holdings in 3M Company (NYSE:MMM - Free Report) by 58.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,200 shares of the conglomerate's stock after purchasing an additional 28,124 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in 3M were worth $12,508,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. State Street Corp increased its position in shares of 3M by 0.4% in the second quarter. State Street Corp now owns 27,828,966 shares of the conglomerate's stock valued at $4,505,788,000 after acquiring an additional 105,222 shares during the last quarter. Amundi boosted its position in 3M by 67.0% during the second quarter. Amundi now owns 4,536,148 shares of the conglomerate's stock valued at $734,448,000 after purchasing an additional 1,819,178 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in 3M by 7.4% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,935,534 shares of the conglomerate's stock valued at $637,202,000 after purchasing an additional 270,458 shares during the last quarter. National Pension Service grew its stake in 3M by 3.6% in the second quarter. National Pension Service now owns 1,401,543 shares of the conglomerate's stock valued at $226,924,000 after purchasing an additional 48,167 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH grew its stake in 3M by 1.2% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 376,784 shares of the conglomerate's stock valued at $61,849,000 after purchasing an additional 4,628 shares in the last quarter. Institutional investors own 65.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Citigroup upped their price objective on 3M from $183.00 to $188.00 and gave the stock a "neutral" rating in a research note on Wednesday. Jefferies Financial Group reissued a "hold" rating and issued a $186.00 target price on shares of 3M in a research note on Wednesday. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of 3M in a report on Wednesday. The Goldman Sachs Group restated a "buy" rating on shares of 3M in a report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. raised their target price on shares of 3M from $185.00 to $191.00 and gave the company an "overweight" rating in a research note on Wednesday. Seven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $185.36.

3M Stock Down 1.1%

MMM stock opened at $173.62 on Friday. 3M Company has a 1-year low of $139.34 and a 1-year high of $184.90. The business's 50 day simple moving average is $168.84 and its 200 day simple moving average is $162.21. The company has a current ratio of 1.41, a quick ratio of 0.91 and a debt-to-equity ratio of 3.01. The firm has a market capitalization of $89.72 billion, a PE ratio of 25.88, a PEG ratio of 2.29 and a beta of 0.99.

3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings results on Tuesday, October 20th. The conglomerate reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.12. 3M had a return on equity of 123.11% and a net margin of 14.01%. The business had revenue of $6.60 billion during the quarter, compared to the consensus estimate of $6.61 billion. During the same quarter last year, the firm posted $2.19 EPS. The company's quarterly revenue was up 1.5% on a year-over-year basis. As a group, research analysts anticipate that 3M Company will post 9.14 EPS for the current year.

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Monday, August 24th were given a $0.78 dividend. The ex-dividend date of this dividend was Monday, August 24th. This represents a $3.12 annualized dividend and a dividend yield of 1.8%. 3M's dividend payout ratio is presently 46.50%.

Insider Buying and Selling at 3M

In other news, insider Karin Chavez sold 3,635 shares of the firm's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $182.51, for a total transaction of $663,423.85. Following the completion of the sale, the insider owned 14,035 shares in the company, valued at approximately $2,561,527.85. This trade represents a 20.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.19% of the stock is owned by insiders.

About 3M

3M is a diversified technology and manufacturing company headquartered in St. Paul, Minnesota. Founded in 1902 as Minnesota Mining and Manufacturing Company, it developed from a mining venture into a global enterprise known for applying materials science and engineering to a broad range of industrial, commercial and consumer applications.

The company develops and manufactures products including adhesives, abrasives, filtration systems, personal protective equipment, medical and dental supplies, electrical and electronic materials, automotive components, reflective materials and workplace safety solutions.

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