Robeco Institutional Asset Management B.V. Sells 146,843 Shares of 3M Company (NYSE:MMM)

Robeco Institutional Asset Management B.V. trimmed its stake in shares of 3M Company (NYSE:MMM - Free Report) by 23.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 490,656 shares of the conglomerate's stock after selling 146,843 shares during the period. Robeco Institutional Asset Management B.V. owned 0.09% of 3M worth $72,058,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Parkside Financial Bank & Trust increased its holdings in shares of 3M by 1.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 5,153 shares of the conglomerate's stock worth $665,000 after purchasing an additional 70 shares during the last quarter. LaSalle St. Investment Advisors LLC increased its holdings in shares of 3M by 2.5% in the 4th quarter. LaSalle St. Investment Advisors LLC now owns 2,951 shares of the conglomerate's stock worth $381,000 after buying an additional 71 shares during the last quarter. NBT Bank N A NY raised its position in shares of 3M by 0.8% during the 1st quarter. NBT Bank N A NY now owns 9,744 shares of the conglomerate's stock valued at $1,431,000 after buying an additional 79 shares in the last quarter. Cherry Creek Investment Advisors Inc. raised its position in shares of 3M by 0.8% during the 1st quarter. Cherry Creek Investment Advisors Inc. now owns 10,775 shares of the conglomerate's stock valued at $1,582,000 after buying an additional 83 shares in the last quarter. Finally, Sapient Capital LLC lifted its holdings in shares of 3M by 1.1% in the 1st quarter. Sapient Capital LLC now owns 7,792 shares of the conglomerate's stock valued at $1,144,000 after acquiring an additional 84 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling at 3M

In other 3M news, 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 value of $1,179,493.30. Following the transaction, the executive vice president now directly owns 6,127 shares in the company, valued at $913,045.54. The trade was a 56.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP John Patrick Banovetz sold 7,759 shares of 3M stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 31,372 shares in the company, valued at approximately $4,654,663.64. The trade was a 19.83% decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

3M Price Performance

NYSE:MMM opened at $150.89 on Friday. The company has a 50 day moving average price of $144.39 and a 200-day moving average price of $142.61. The firm has a market cap of $81.21 billion, a price-to-earnings ratio of 19.05, a price-to-earnings-growth ratio of 3.07 and a beta of 1.03. 3M Company has a 1-year low of $98.26 and a 1-year high of $156.35. The company has a debt-to-equity ratio of 2.72, a current ratio of 1.66 and a quick ratio of 1.25.

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

3M Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were given a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.94%. 3M's dividend payout ratio (DPR) is presently 36.87%.

Analyst Ratings Changes

MMM has been the subject of several research reports. JPMorgan Chase & Co. boosted their price objective on shares of 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Citigroup raised 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. Barclays boosted their price target on shares of 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a report on Wednesday, April 23rd. Royal Bank Of Canada increased their price objective on shares of 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research note on Wednesday, April 23rd. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a research note on Wednesday, June 11th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, 3M currently has a consensus rating of "Moderate Buy" and a consensus price target of $155.83.

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.

Want to see what other hedge funds are holding MMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for 3M Company (NYSE:MMM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.