Mufg Securities Americas Inc. Makes New $1.04 Million Investment in 3M (NYSE:MMM)

Mufg Securities Americas Inc. bought a new stake in shares of 3M (NYSE:MMM - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 8,040 shares of the conglomerate's stock, valued at approximately $1,038,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Parsifal Capital Management LP grew its holdings in 3M by 1.2% in the 4th quarter. Parsifal Capital Management LP now owns 829,886 shares of the conglomerate's stock worth $107,130,000 after buying an additional 9,792 shares in the last quarter. Man Group plc grew its holdings in 3M by 36.4% in the 4th quarter. Man Group plc now owns 111,843 shares of the conglomerate's stock worth $14,438,000 after buying an additional 29,845 shares in the last quarter. Newbrook Capital Advisors LP bought a new position in 3M in the 4th quarter worth approximately $23,642,000. NorthRock Partners LLC boosted its stake in 3M by 162.4% during the 4th quarter. NorthRock Partners LLC now owns 15,155 shares of the conglomerate's stock valued at $1,956,000 after purchasing an additional 9,379 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in 3M by 2.0% during the 4th quarter. Nuveen Asset Management LLC now owns 1,624,177 shares of the conglomerate's stock valued at $209,665,000 after purchasing an additional 31,624 shares in the last quarter. 65.25% of the stock is owned by institutional investors.

3M Stock Up 0.7%

Shares of NYSE:MMM traded up $1.00 during midday trading on Monday, hitting $154.11. 2,609,916 shares of the stock were exchanged, compared to its average volume of 4,000,302. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. 3M has a 52-week low of $96.76 and a 52-week high of $156.35. The business's fifty day simple moving average is $141.60 and its two-hundred day simple moving average is $139.47. The company has a market capitalization of $82.94 billion, a PE ratio of 20.41, a P/E/G ratio of 3.30 and a beta of 1.02.

3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.11. 3M had a return on equity of 100.77% and a net margin of 15.71%. The business had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.78 billion. As a group, research analysts predict that 3M will post 7.8 earnings per share for the current fiscal year.

3M Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 1.89%. 3M's payout ratio is 36.87%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MMM shares. Royal Bank of Canada increased their price target on 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research note on Wednesday, April 23rd. Bank of America increased their price target on 3M from $175.00 to $179.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Wells Fargo & Company upgraded 3M from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Barclays increased their price objective on 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a research report on Wednesday, April 23rd. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a research report on Saturday, May 10th. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $152.08.

Insiders Place Their Bets

In other 3M news, EVP Zoe L. Dickson sold 7,915 shares of the stock in a transaction on Thursday, May 15th. The shares were 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 $913,045.54. This represents a 56.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.34% of the company's stock.

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.