Lansforsakringar Fondforvaltning AB publ Sells 3,574 Shares of 3M Company $MMM

Lansforsakringar Fondforvaltning AB publ decreased its stake in 3M Company (NYSE:MMM) by 2.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 178,921 shares of the conglomerate’s stock after selling 3,574 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in 3M were worth $26,276,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MMM. Nuveen LLC bought a new position in 3M in the 1st quarter valued at approximately $235,020,000. J. Goldman & Co LP bought a new position in 3M in the 4th quarter valued at approximately $63,471,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in 3M in the 4th quarter valued at approximately $51,289,000. Jennison Associates LLC lifted its stake in 3M by 84.7% in the 1st quarter. Jennison Associates LLC now owns 842,174 shares of the conglomerate’s stock valued at $123,682,000 after purchasing an additional 386,093 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in 3M by 18.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,516,729 shares of the conglomerate’s stock valued at $369,530,000 after purchasing an additional 383,539 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

Insiders Place Their Bets

In related news, insider Christian T. Goralski, Jr. sold 6,165 shares of 3M stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $150.18, for a total transaction of $925,859.70. Following the completion of the transaction, the insider owned 2,900 shares of the company’s stock, valued at $435,522. This trade represents a 68.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Theresa E. Reinseth sold 3,477 shares of 3M stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $150.63, for a total transaction of $523,740.51. Following the transaction, the chief accounting officer directly owned 2,561 shares of the company’s stock, valued at $385,763.43. This represents a 57.59% decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

3M Price Performance

MMM stock opened at $157.58 on Friday. 3M Company has a 52-week low of $121.98 and a 52-week high of $164.15. The company has a fifty day moving average price of $153.09 and a 200-day moving average price of $147.45. The company has a market capitalization of $83.93 billion, a P/E ratio of 21.92, a PEG ratio of 3.03 and a beta of 1.05. The company has a debt-to-equity ratio of 2.87, a quick ratio of 1.20 and a current ratio of 1.72.

3M (NYSE:MMM) last announced its earnings results on Friday, July 18th. The conglomerate reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.15. 3M had a net margin of 16.01% and a return on equity of 96.48%. The business had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $6.09 billion. During the same quarter last year, the firm earned $1.93 earnings per share. 3M’s quarterly revenue was up 1.4% on a year-over-year basis. As a group, equities analysts expect that 3M Company will post 7.8 EPS for the current year.

3M Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, August 25th will be paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, August 25th. 3M’s dividend payout ratio (DPR) is currently 40.61%.

Wall Street Analyst Weigh In

Several brokerages recently commented on MMM. Citigroup increased their price objective on shares of 3M from $141.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, May 30th. Wells Fargo & Company reissued an “overweight” rating on shares of 3M in a research note on Friday, July 18th. Barclays set a $170.00 price target on shares of 3M in a research note on Friday, July 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of 3M in a research note on Thursday, August 14th. Finally, JPMorgan Chase & Co. set a $167.00 price target on shares of 3M in a research note on Friday, July 18th. Seven analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $158.10.

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.