3M Co (NYSE:MMM) Stake Lifted by Flossbach Von Storch AG

Flossbach Von Storch AG raised its position in 3M Co (NYSE:MMM) by 33.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 7,767,020 shares of the conglomerate’s stock after purchasing an additional 1,944,377 shares during the period. 3M accounts for approximately 7.1% of Flossbach Von Storch AG’s portfolio, making the stock its 4th biggest holding. Flossbach Von Storch AG’s holdings in 3M were worth $1,060,276,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Tsfg LLC raised its holdings in shares of 3M by 52.7% during the 1st quarter. Tsfg LLC now owns 200 shares of the conglomerate’s stock worth $27,000 after acquiring an additional 69 shares during the period. Cascade Investment Advisors Inc. purchased a new position in shares of 3M during the 1st quarter worth $28,000. Braun Bostich & Associates Inc. purchased a new position in shares of 3M during the 4th quarter worth $30,000. Stonebridge Financial Planning Group LLC raised its holdings in shares of 3M by 211.3% during the 1st quarter. Stonebridge Financial Planning Group LLC now owns 221 shares of the conglomerate’s stock worth $33,000 after acquiring an additional 150 shares during the period. Finally, IndexIQ Advisors LLC purchased a new position in shares of 3M during the 4th quarter worth $35,000. Institutional investors own 67.67% of the company’s stock.

In other news, EVP Michael G. Vale sold 14,062 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $148.34, for a total transaction of $2,085,957.08. Following the completion of the transaction, the executive vice president now directly owns 46,900 shares of the company’s stock, valued at $6,957,146. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael F. Roman sold 7,894 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $148.70, for a total value of $1,173,837.80. Following the transaction, the chief executive officer now directly owns 57,868 shares of the company’s stock, valued at $8,604,971.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,184 shares of company stock valued at $5,930,874. Corporate insiders own 0.42% of the company’s stock.

Several research analysts have recently commented on MMM shares. Royal Bank of Canada lifted their price target on 3M from $143.00 to $148.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 29th. Deutsche Bank lifted their price target on 3M from $158.00 to $163.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. Citigroup raised their price objective on 3M from $146.00 to $170.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Morgan Stanley raised their price objective on 3M from $131.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Finally, Gordon Haskett downgraded 3M from a “hold” rating to an “underperform” rating in a research report on Monday, March 30th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $161.85.

NYSE MMM traded up $0.63 during trading on Friday, hitting $146.44. The stock had a trading volume of 2,440,863 shares, compared to its average volume of 4,029,269. The company has a market capitalization of $83.87 billion, a PE ratio of 17.19, a PEG ratio of 1.94 and a beta of 0.99. The company has a quick ratio of 1.19, a current ratio of 1.65 and a debt-to-equity ratio of 1.94. The firm has a 50 day moving average price of $145.15 and a 200 day moving average price of $158.97. 3M Co has a twelve month low of $114.04 and a twelve month high of $187.72.

3M (NYSE:MMM) last released its earnings results on Tuesday, April 28th. The conglomerate reported $2.16 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.13. The company had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $7.86 billion. 3M had a return on equity of 50.24% and a net margin of 15.37%. 3M’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.23 EPS. On average, sell-side analysts anticipate that 3M Co will post 7.92 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 22nd will be given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend is Thursday, May 21st. 3M’s dividend payout ratio is presently 64.62%.

About 3M

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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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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