3M (NYSE:MMM) Shares Sold by Flossbach Von Storch SE

Flossbach Von Storch SE decreased its position in shares of 3M (NYSE:MMM - Free Report) by 7.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 939,529 shares of the conglomerate's stock after selling 73,490 shares during the period. Flossbach Von Storch SE owned approximately 0.17% of 3M worth $121,284,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MMM. FMR LLC increased its stake in 3M by 88.7% in the 3rd quarter. FMR LLC now owns 8,961,866 shares of the conglomerate's stock worth $1,225,087,000 after acquiring an additional 4,212,409 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of 3M by 11,601.2% in the third quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate's stock valued at $172,416,000 after purchasing an additional 1,250,491 shares in the last quarter. Jennison Associates LLC bought a new stake in 3M in the third quarter worth $82,208,000. Parsifal Capital Management LP raised its stake in 3M by 179.0% during the third quarter. Parsifal Capital Management LP now owns 820,094 shares of the conglomerate's stock valued at $112,107,000 after purchasing an additional 526,194 shares in the last quarter. Finally, Bank of Montreal Can lifted its position in 3M by 39.1% during the third quarter. Bank of Montreal Can now owns 1,099,794 shares of the conglomerate's stock valued at $151,002,000 after purchasing an additional 308,912 shares during the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Christian T. Goralski, Jr. sold 6,318 shares of the firm's stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $149.43, for a total transaction of $944,098.74. Following the sale, the insider now owns 5,024 shares of the company's stock, valued at $750,736.32. This trade represents a 55.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Theresa E. Reinseth sold 2,309 shares of 3M stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $149.95, for a total transaction of $346,234.55. Following the transaction, the chief accounting officer now directly owns 4,417 shares of the company's stock, valued at approximately $662,329.15. This trade represents a 34.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,639 shares of company stock valued at $17,163,446. Company insiders own 0.34% of the company's stock.

3M Stock Down 2.8 %

NYSE MMM traded down $4.21 on Friday, hitting $144.87. The stock had a trading volume of 4,278,493 shares, compared to its average volume of 3,924,529. The business's fifty day moving average price is $140.32 and its 200 day moving average price is $134.41. 3M has a 52-week low of $75.40 and a 52-week high of $155.00. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The stock has a market cap of $78.65 billion, a price-to-earnings ratio of 19.19, a price-to-earnings-growth ratio of 3.32 and a beta of 0.96.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.66 by $0.02. The company had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. 3M's revenue for the quarter was down 25.0% compared to the same quarter last year. During the same period last year, the firm posted $2.42 EPS. Equities research analysts anticipate that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be issued a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 2.02%. This is a positive change from 3M's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, February 14th. 3M's dividend payout ratio is presently 38.68%.

Analyst Ratings Changes

A number of analysts have recently weighed in on MMM shares. Weiss Ratings restated a "hold (c)" rating on shares of 3M in a report on Wednesday. Barclays upped their price objective on 3M from $161.00 to $165.00 and gave the company an "overweight" rating in a research report on Wednesday, January 22nd. UBS Group upgraded 3M from a "neutral" rating to a "buy" rating and boosted their target price for the company from $130.00 to $184.00 in a research report on Wednesday, November 13th. Bank of America increased their price target on 3M from $160.00 to $175.00 and gave the stock a "buy" rating in a report on Wednesday, January 22nd. Finally, Royal Bank of Canada restated an "underperform" rating and set a $96.00 price objective on shares of 3M in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $148.87.

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.