UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 31,247 Shares of 3M (NYSE:MMM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in shares of 3M (NYSE:MMM - Free Report) by 0.8% in the fourth 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 about 0.70% of 3M worth $488,525,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Investors Asset Management of Georgia Inc. GA ADV lifted its holdings in shares of 3M by 1.3% during the fourth quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,377 shares of the conglomerate's stock worth $694,000 after buying an additional 67 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of 3M by 1.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 5,153 shares of the conglomerate's stock worth $665,000 after buying an additional 70 shares during the last quarter. LaSalle St. Investment Advisors LLC lifted its holdings in shares of 3M by 2.5% during the fourth quarter. LaSalle St. Investment Advisors LLC now owns 2,951 shares of the conglomerate's stock worth $381,000 after buying an additional 71 shares during the last quarter. Gilbert & Cook Inc. lifted its holdings in shares of 3M by 1.5% during the fourth quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate's stock worth $659,000 after buying an additional 73 shares during the last quarter. Finally, Childress Capital Advisors LLC lifted its holdings in shares of 3M by 5.1% during the fourth quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate's stock worth $203,000 after buying an additional 76 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Price Performance

3M stock traded down $2.00 during mid-day trading on Friday, hitting $147.78. 2,369,804 shares of the company were exchanged, compared to its average volume of 3,976,427. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The business has a fifty day moving average of $141.69 and a 200 day moving average of $140.14. 3M has a 1-year low of $96.76 and a 1-year high of $156.35. The company has a market capitalization of $79.53 billion, a PE ratio of 19.57, a price-to-earnings-growth ratio of 3.30 and a beta of 1.02.

3M (NYSE:MMM - Get Free Report) last released 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 firm had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.78 billion. As a group, sell-side analysts expect that 3M will post 7.8 earnings per share for the current year.

3M Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be paid a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 1.98%. 3M's dividend payout ratio is currently 36.87%.

Analysts Set New Price Targets

A number of research analysts have recently commented on MMM shares. JPMorgan Chase & Co. upped their price target on 3M from $140.00 to $167.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Citigroup cut their price target on 3M from $152.00 to $142.00 and set a "neutral" rating for the company in a report on Monday, April 14th. 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 research note on Wednesday, April 23rd. Bank of America upped their target price on 3M from $175.00 to $179.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Finally, Barclays upped their target price on 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a research note on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $152.08.

Insider Transactions at 3M

In other news, EVP Zoe L. Dickson sold 7,915 shares of the 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 sale, the executive vice president now owns 6,127 shares in the company, valued at approximately $913,045.54. This represents a 56.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.34% of the company's stock.

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.