Mitsubishi UFJ Asset Management UK Ltd. Sells 13,000 Shares of 3M (NYSE:MMM)

Mitsubishi UFJ Asset Management UK Ltd. trimmed its holdings in 3M (NYSE:MMM) by 61.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,000 shares of the conglomerate’s stock after selling 13,000 shares during the quarter. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in 3M were worth $1,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. CVA Family Office LLC boosted its stake in 3M by 1.9% in the third quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock valued at $571,000 after acquiring an additional 79 shares in the last quarter. Wynn Capital LLC boosted its position in shares of 3M by 0.7% in the 4th quarter. Wynn Capital LLC now owns 11,690 shares of the conglomerate’s stock worth $1,509,000 after purchasing an additional 80 shares in the last quarter. Harbour Investments Inc. increased its position in 3M by 0.8% during the 3rd quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock valued at $1,443,000 after buying an additional 81 shares in the last quarter. KMG Fiduciary Partners LLC increased its position in 3M by 0.5% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate’s stock valued at $2,213,000 after buying an additional 84 shares in the last quarter. Finally, TCV Trust & Wealth Management Inc. boosted its holdings in 3M by 1.3% in the third quarter. TCV Trust & Wealth Management Inc. now owns 6,464 shares of the conglomerate’s stock worth $884,000 after acquiring an additional 84 shares in the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

3M Trading Up 4.1 %

MMM stock opened at $146.86 on Wednesday. 3M has a 52-week low of $75.40 and a 52-week high of $150.00. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41. The firm has a market cap of $79.98 billion, a P/E ratio of 18.54, a PEG ratio of 2.30 and a beta of 0.95. The company’s 50-day simple moving average is $131.40 and its 200-day simple moving average is $128.20.

3M (NYSE:MMM) last issued 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 for the quarter, compared to the consensus estimate of $5,770,390 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. 3M’s revenue for the quarter was down 25.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.42 earnings per share. As a group, equities analysts forecast that 3M will post 7.28 EPS for the current fiscal year.

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.91%. The ex-dividend date was Friday, November 15th. 3M’s payout ratio is 35.35%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MMM shares. Mizuho increased their price objective on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Royal Bank of Canada decreased their price target on shares of 3M from $100.00 to $96.00 and set an “underperform” rating for the company in a report on Friday, January 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of 3M in a report on Saturday. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research note on Tuesday, October 22nd. Finally, Bank of America increased their price objective on 3M from $143.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $144.13.

3M Company 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.