1,536 Shares in 3M (NYSE:MMM) Purchased by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in shares of 3M (NYSE:MMM) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,536 shares of the conglomerate’s stock, valued at approximately $210,000.

Other institutional investors have also recently made changes to their positions in the company. Ausdal Financial Partners Inc. boosted its stake in 3M by 6.7% during the 2nd quarter. Ausdal Financial Partners Inc. now owns 3,991 shares of the conglomerate’s stock worth $408,000 after purchasing an additional 249 shares during the last quarter. Candriam S.C.A. boosted its position in 3M by 19.2% during the second quarter. Candriam S.C.A. now owns 38,469 shares of the conglomerate’s stock worth $3,931,000 after acquiring an additional 6,185 shares during the last quarter. True Vision MN LLC purchased a new stake in 3M during the 2nd quarter valued at about $512,000. Clifford Capital Partners LLC raised its holdings in 3M by 21.3% in the 2nd quarter. Clifford Capital Partners LLC now owns 171,152 shares of the conglomerate’s stock valued at $17,490,000 after acquiring an additional 30,009 shares during the last quarter. Finally, Albar Capital Ltd purchased a new position in 3M in the 2nd quarter worth approximately $7,319,000. 65.25% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Chairman Michael F. Roman sold 5,675 shares of 3M stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total transaction of $700,635.50. Following the completion of the sale, the chairman now directly owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Theresa E. Reinseth sold 2,100 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total transaction of $260,652.00. Following the completion of the sale, the chief financial officer now owns 4,364 shares in the company, valued at approximately $541,659.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Michael F. Roman sold 5,675 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total transaction of $700,635.50. Following the completion of the transaction, the chairman now owns 174,036 shares of the company’s stock, valued at $21,486,484.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

3M Stock Up 0.8 %

Shares of NYSE:MMM opened at $135.85 on Tuesday. The firm’s 50-day moving average is $131.75 and its two-hundred day moving average is $111.76. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.36 and a quick ratio of 1.08. 3M has a 1 year low of $71.12 and a 1 year high of $140.72. The firm has a market capitalization of $75.17 billion, a PE ratio of -10.68, a price-to-earnings-growth ratio of 2.49 and a beta of 0.95.

3M (NYSE:MMM) last released its earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.25. 3M had a net margin of 3.08% and a return on equity of 112.92%. The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same period in the prior year, the business earned $2.17 EPS. Analysts predict that 3M will post 7.24 EPS for the current year.

3M Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were paid a $0.70 dividend. The ex-dividend date was Monday, August 26th. This represents a $2.80 dividend on an annualized basis and a yield of 2.06%. 3M’s dividend payout ratio is currently -22.01%.

Analyst Ratings Changes

MMM has been the subject of a number of recent research reports. Bank of America raised their target price on 3M from $120.00 to $143.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Royal Bank of Canada lifted their target price on shares of 3M from $93.00 to $95.00 and gave the stock an “underperform” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised shares of 3M from a “hold” rating to a “buy” rating and increased their price target for the company from $110.00 to $150.00 in a research note on Monday, July 29th. Citigroup lifted their price target on shares of 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Finally, Morgan Stanley assumed coverage on 3M in a research report on Friday, September 6th. They issued an “underweight” rating and a $125.00 price objective for the company. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, 3M presently has an average rating of “Hold” and a consensus target price of $127.64.

3M Company 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.