UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Position in 3M (NYSE:MMM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in shares of 3M (NYSE:MMM) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,784,378 shares of the conglomerate’s stock after selling 31,247 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.70% of 3M worth $488,525,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Worldquant Millennium Advisors LLC acquired a new stake in shares of 3M in the fourth quarter valued at approximately $1,506,000. Waverly Advisors LLC boosted its holdings in shares of 3M by 22.5% in the fourth quarter. Waverly Advisors LLC now owns 26,443 shares of the conglomerate’s stock valued at $3,414,000 after acquiring an additional 4,858 shares during the period. Woodline Partners LP raised its stake in shares of 3M by 20.2% during the fourth quarter. Woodline Partners LP now owns 488,343 shares of the conglomerate’s stock worth $63,040,000 after purchasing an additional 82,057 shares during the last quarter. Victrix Investment Advisors purchased a new stake in shares of 3M during the fourth quarter worth approximately $3,736,000. Finally, St. Clair Advisors LLC purchased a new stake in shares of 3M during the fourth quarter worth approximately $655,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on MMM shares. Royal Bank of Canada upped their target price on 3M from $98.00 to $100.00 and gave the company an “underperform” rating in a report on Wednesday, April 23rd. Barclays raised their price objective on 3M from $160.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, April 23rd. Citigroup dropped their target price on 3M from $152.00 to $142.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Finally, Bank of America lifted their target price on 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $152.08.

Insider Activity

In related news, EVP Zoe L. Dickson sold 7,915 shares of the company’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $149.02, for a total transaction of $1,179,493.30. Following the transaction, the executive vice president now directly owns 6,127 shares of the company’s stock, valued at approximately $913,045.54. The trade was a 56.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.34% of the company’s stock.

3M Stock Down 0.1%

Shares of 3M stock opened at $154.06 on Wednesday. The business’s fifty day moving average price is $141.84 and its two-hundred day moving average price is $139.76. 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 company has a market capitalization of $82.91 billion, a P/E ratio of 20.41, a PEG ratio of 3.30 and a beta of 1.02. 3M has a 1-year low of $96.76 and a 1-year high of $156.35.

3M (NYSE:MMM) last announced its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.11. The firm had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.78 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. As a group, research analysts forecast that 3M will post 7.8 EPS for the current year.

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be issued a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.90%. 3M’s dividend payout ratio (DPR) is 36.87%.

3M Profile

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.