3M Company (NYSE:MMM) Shares Bought by Boston Partners

Boston Partners boosted its position in 3M Company (NYSE:MMM) by 0.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,849 shares of the conglomerate’s stock after buying an additional 29 shares during the period. Boston Partners’ holdings in 3M were worth $1,693,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Howard Capital Management increased its position in 3M by 1.4% in the first quarter. Howard Capital Management now owns 6,577 shares of the conglomerate’s stock worth $1,258,000 after buying an additional 90 shares during the last quarter. Arvest Bank Trust Division increased its position in 3M by 11.6% in the first quarter. Arvest Bank Trust Division now owns 2,340 shares of the conglomerate’s stock worth $448,000 after buying an additional 244 shares during the last quarter. Loeb Partners Corp increased its position in 3M by 138.9% in the first quarter. Loeb Partners Corp now owns 8,600 shares of the conglomerate’s stock worth $1,646,000 after buying an additional 5,000 shares during the last quarter. Pekin Singer Strauss Asset Management IL increased its position in 3M by 16.1% in the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 2,068 shares of the conglomerate’s stock worth $369,000 after buying an additional 287 shares during the last quarter. Finally, Dodge & Cox acquired a new position in shares of 3M during the fourth quarter worth $3,917,000. Institutional investors own 65.76% of the company’s stock.

Shares of 3M Company (NYSE:MMM) opened at 207.65 on Monday. The stock has a 50 day moving average of $209.15 and a 200-day moving average of $195.17. The company has a market capitalization of $123.92 billion, a P/E ratio of 23.69 and a beta of 1.08. 3M Company has a 12-month low of $163.85 and a 12-month high of $214.57.

3M (NYSE:MMM) last issued its earnings results on Tuesday, July 25th. The conglomerate reported $2.58 EPS for the quarter, missing the Zacks’ consensus estimate of $2.59 by $0.01. The business had revenue of $7.81 billion during the quarter, compared to analyst estimates of $7.86 billion. 3M had a net margin of 17.65% and a return on equity of 47.83%. 3M’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the company earned $2.08 earnings per share. Equities research analysts forecast that 3M Company will post $8.94 EPS for the current year.

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A number of brokerages have weighed in on MMM. Zacks Investment Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $237.00 target price for the company in a research note on Monday, June 19th. Stifel Nicolaus reiterated a “hold” rating and set a $202.00 price target on shares of 3M in a report on Wednesday, July 19th. Morgan Stanley reiterated an “underweight” rating and set a $191.00 price target (down previously from $193.00) on shares of 3M in a report on Monday, July 10th. BidaskClub cut shares of 3M from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, Citigroup Inc. restated a “buy” rating and issued a $229.00 target price (up previously from $220.00) on shares of 3M in a report on Saturday, June 3rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $203.40.

In related news, insider James L. Bauman sold 14,616 shares of the firm’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $195.81, for a total transaction of $2,861,958.96. Following the completion of the sale, the insider now directly owns 16,458 shares in the company, valued at $3,222,640.98. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Marlene Mary Mcgrath sold 14,766 shares of the firm’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $194.88, for a total transaction of $2,877,598.08. Following the sale, the vice president now owns 24,480 shares of the company’s stock, valued at $4,770,662.40. The disclosure for this sale can be found here. 0.58% of the stock is owned by corporate insiders.

About 3M

3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.