Achmea Investment Management B.V. Has $12.60 Million Stock Position in 3M (NYSE:MMM)

Achmea Investment Management B.V. boosted its holdings in 3M (NYSE:MMM) by 59.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 97,603 shares of the conglomerate’s stock after buying an additional 36,211 shares during the period. Achmea Investment Management B.V.’s holdings in 3M were worth $12,600,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Avantax Advisory Services Inc. raised its stake in 3M by 4.8% during the 4th quarter. Avantax Advisory Services Inc. now owns 40,790 shares of the conglomerate’s stock valued at $5,266,000 after purchasing an additional 1,885 shares during the last quarter. Essential Planning LLC. bought a new position in shares of 3M during the 4th quarter worth about $4,527,000. Truvestments Capital LLC raised its position in shares of 3M by 11.0% during the fourth quarter. Truvestments Capital LLC now owns 29,759 shares of the conglomerate’s stock valued at $3,842,000 after buying an additional 2,949 shares during the last quarter. Hopwood Financial Services Inc. bought a new stake in shares of 3M in the fourth quarter valued at about $144,000. Finally, Sequoia Financial Advisors LLC grew its position in 3M by 22.2% during the fourth quarter. Sequoia Financial Advisors LLC now owns 40,404 shares of the conglomerate’s stock worth $5,216,000 after buying an additional 7,342 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Price Performance

Shares of MMM stock opened at $145.97 on Friday. The firm has a market cap of $79.25 billion, a price-to-earnings ratio of 19.33, a PEG ratio of 3.30 and a beta of 0.97. 3M has a 12 month low of $85.48 and a 12 month high of $156.35. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The stock has a 50-day moving average price of $146.01 and a 200 day moving average price of $136.69.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping the consensus estimate of $1.66 by $0.02. 3M had a net margin of 15.71% and a return on equity of 100.77%. The company had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.77 billion. During the same quarter in the previous year, the company earned $2.42 EPS. 3M’s revenue was down 25.0% on a year-over-year basis. Research analysts expect that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were given a dividend of $0.73 per share. This is a boost from 3M’s previous quarterly dividend of $0.70. The ex-dividend date was Friday, February 14th. This represents a $2.92 annualized dividend and a dividend yield of 2.00%. 3M’s payout ratio is presently 38.68%.

Analysts Set New Price Targets

Several research firms have commented on MMM. Wells Fargo & Company raised 3M from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $140.00 to $170.00 in a report on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their price target on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Bank of America increased their price objective on 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Citigroup upped their target price on shares of 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Finally, Barclays increased their price target on 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $149.13.

Insider Activity

In other 3M news, EVP Victoria Clarke sold 1,750 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $154.22, for a total value of $269,885.00. Following the transaction, the executive vice president now owns 194 shares of the company’s stock, valued at approximately $29,918.68. This represents a 90.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Michael F. Roman sold 49,598 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $152.30, for a total value of $7,553,775.40. Following the transaction, the chairman now owns 180,895 shares in the company, valued at approximately $27,550,308.50. This trade represents a 21.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,639 shares of company stock valued at $17,163,446 in the last 90 days. 0.38% of the stock is owned by company insiders.

About 3M

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.