Robeco Institutional Asset Management B.V. cut its position in shares of 3M Co (NYSE:MMM) by 13.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 112,717 shares of the conglomerate’s stock after selling 17,268 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in 3M were worth $19,538,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in MMM. M. Kraus & Co raised its stake in shares of 3M by 5.2% in the second quarter. M. Kraus & Co now owns 3,630 shares of the conglomerate’s stock worth $629,000 after purchasing an additional 179 shares during the last quarter. Physicians Financial Services Inc. grew its holdings in shares of 3M by 11.7% in the first quarter. Physicians Financial Services Inc. now owns 16,859 shares of the conglomerate’s stock worth $3,503,000 after acquiring an additional 1,763 shares during the period. Steinberg Global Asset Management grew its holdings in shares of 3M by 52.6% in the first quarter. Steinberg Global Asset Management now owns 4,903 shares of the conglomerate’s stock worth $1,019,000 after acquiring an additional 1,689 shares during the period. Vectors Research Management LLC grew its holdings in shares of 3M by 16.0% in the fourth quarter. Vectors Research Management LLC now owns 725 shares of the conglomerate’s stock worth $138,000 after acquiring an additional 100 shares during the period. Finally, Searle & CO. grew its holdings in shares of 3M by 3.6% in the first quarter. Searle & CO. now owns 3,643 shares of the conglomerate’s stock worth $757,000 after acquiring an additional 126 shares during the period. Hedge funds and other institutional investors own 66.84% of the company’s stock.
Several analysts recently commented on the company. JPMorgan Chase & Co. cut their price objective on 3M from $154.00 to $143.00 and set an “underweight” rating for the company in a report on Friday, May 17th. Argus lowered 3M from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Gordon Haskett lowered 3M from a “buy” rating to a “hold” rating and set a $191.98 price target for the company. in a report on Monday, April 29th. Wolfe Research set a $174.00 target price on 3M and gave the stock a “sell” rating in a research report on Friday, April 26th. Finally, UBS Group decreased their target price on 3M from $201.00 to $182.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $182.77.
In other 3M news, Director Gregory R. Page bought 1,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were purchased at an average price of $176.26 per share, with a total value of $176,260.00. Following the completion of the purchase, the director now owns 4,000 shares in the company, valued at approximately $705,040. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Joaquin Delgado sold 5,400 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $169.68, for a total value of $916,272.00. Following the transaction, the insider now directly owns 28,092 shares in the company, valued at approximately $4,766,650.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 3,200 shares of company stock worth $559,260. Company insiders own 0.83% of the company’s stock.
MMM stock traded down $2.81 during midday trading on Friday, reaching $170.55. 2,422,970 shares of the company traded hands, compared to its average volume of 3,006,408. 3M Co has a 52-week low of $159.32 and a 52-week high of $219.75. The company has a quick ratio of 1.34, a current ratio of 1.93 and a debt-to-equity ratio of 1.53. The stock’s 50 day simple moving average is $172.71. The firm has a market cap of $99.73 billion, a price-to-earnings ratio of 16.30, a price-to-earnings-growth ratio of 1.82 and a beta of 1.09.
3M (NYSE:MMM) last issued its quarterly earnings data on Thursday, July 25th. The conglomerate reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.16. 3M had a return on equity of 55.05% and a net margin of 15.27%. The business had revenue of $8.17 billion for the quarter, compared to the consensus estimate of $8.10 billion. During the same period in the prior year, the business posted $2.59 earnings per share. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. As a group, equities research analysts forecast that 3M Co will post 9.35 EPS for the current year.
3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, abrasion-resistant films, and paint finishing and detailing products.
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