UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Boosts Holdings in 3M Company $MMM

Key Points

• UBS Asset Management increased its stake in 3M shares by 10.9% during the first quarter, owning approximately 4.2 million shares valued at $616.6 million.
• 3M recently declared a quarterly dividend of $0.73 per share, reflecting a 1.9% yield, with the ex-dividend date set for August 25th.
• Analysts have a consensus rating of "Moderate Buy" for 3M's stock, with a price target averaging $161.78, supported by recent upgrades from firms like Citigroup and JPMorgan.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of 3M Company (NYSE:MMM - Free Report) by 10.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,198,538 shares of the conglomerate's stock after acquiring an additional 414,160 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.78% of 3M worth $616,597,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of MMM. Zurich Insurance Group Ltd FI acquired a new position in shares of 3M during the 1st quarter worth approximately $68,822,000. MBB Public Markets I LLC acquired a new position in shares of 3M during the 1st quarter valued at $305,000. Ascent Group LLC lifted its holdings in 3M by 39.6% in the 1st quarter. Ascent Group LLC now owns 5,341 shares of the conglomerate's stock worth $784,000 after buying an additional 1,514 shares in the last quarter. Bell Investment Advisors Inc lifted its holdings in 3M by 4,114.7% in the 1st quarter. Bell Investment Advisors Inc now owns 4,299 shares of the conglomerate's stock worth $631,000 after buying an additional 4,197 shares in the last quarter. Finally, Caxton Associates LLP acquired a new stake in shares of 3M in the 1st quarter valued at about $1,264,000. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Price Performance

3M stock traded down $1.39 during trading hours on Monday, reaching $156.49. 1,303,338 shares of the stock were exchanged, compared to its average volume of 3,726,897. The company has a market cap of $83.35 billion, a P/E ratio of 21.78, a price-to-earnings-growth ratio of 2.87 and a beta of 1.04. The company has a current ratio of 1.72, a quick ratio of 1.20 and a debt-to-equity ratio of 2.87. 3M Company has a twelve month low of $121.98 and a twelve month high of $164.15. The stock has a 50 day moving average of $154.05 and a two-hundred day moving average of $147.95.

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

3M Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Monday, August 25th were given a $0.73 dividend. The ex-dividend date of this dividend was Monday, August 25th. This represents a $2.92 annualized dividend and a yield of 1.9%. 3M's dividend payout ratio (DPR) is presently 40.61%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MMM. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a research note on Saturday, August 30th. Citigroup upped their target price on shares of 3M from $141.00 to $160.00 and gave the stock a "neutral" rating in a research report on Friday, May 30th. JPMorgan Chase & Co. set a $167.00 price objective on shares of 3M in a report on Friday, July 18th. Barclays set a $170.00 target price on shares of 3M in a research note on Friday, July 18th. Finally, Wells Fargo & Company reissued an "overweight" rating on shares of 3M in a research note on Friday, July 18th. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, 3M has a consensus rating of "Moderate Buy" and a consensus target price of $161.78.

Insider Buying and Selling at 3M

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 value of $925,859.70. Following the completion of the sale, the insider owned 2,900 shares of the company's stock, valued at approximately $435,522. This trade represents a 68.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Theresa E. Reinseth sold 3,477 shares of 3M stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $150.63, for a total transaction of $523,740.51. Following the completion of the sale, the chief accounting officer directly owned 2,561 shares of the company's stock, valued at approximately $385,763.43. The trade was a 57.59% decrease in their position. The disclosure for this sale can be found here. 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.