3M (NYSE:MMM) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of 3M (NYSE:MMM) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,815,625 shares of the conglomerate’s stock after buying an additional 43,942 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.70% of 3M worth $521,596,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. MFA Wealth Advisors LLC acquired a new stake in shares of 3M during the second quarter worth about $28,000. Daymark Wealth Partners LLC boosted its stake in shares of 3M by 8.6% during the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock worth $30,000 after buying an additional 17,211 shares during the period. McClarren Financial Advisors Inc. boosted its stake in shares of 3M by 118.6% during the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after buying an additional 121 shares during the period. Meeder Asset Management Inc. boosted its stake in shares of 3M by 689.7% during the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock worth $31,000 after buying an additional 269 shares during the period. Finally, TruNorth Capital Management LLC acquired a new stake in shares of 3M during the second quarter worth about $33,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Trading Down 0.4 %

Shares of MMM opened at $132.48 on Friday. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08. The firm has a 50 day simple moving average of $132.42 and a 200-day simple moving average of $119.92. 3M has a 1-year low of $75.40 and a 1-year high of $141.34. The stock has a market cap of $72.14 billion, a price-to-earnings ratio of 16.73, a price-to-earnings-growth ratio of 2.19 and a beta of 0.95.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.05. 3M had a net margin of 15.37% and a return on equity of 104.66%. The business had revenue of $6.29 billion during the quarter, compared to analysts’ expectations of $6.06 billion. During the same period last year, the company posted $2.68 EPS. The company’s revenue was down 24.3% on a year-over-year basis. Equities analysts forecast that 3M will post 7.27 EPS for the current fiscal year.

3M Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.11%. 3M’s dividend payout ratio (DPR) is 35.35%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Mizuho increased their price target on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Bank of America increased their price target on shares of 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their price target on shares of 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Barclays increased their price target on shares of 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada increased their price target on shares of 3M from $99.00 to $100.00 and gave the stock an “underperform” rating in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $144.87.

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.