UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Position in 3M Company $MMM

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in 3M Company (NYSE:MMM - Free Report) by 7.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,935,534 shares of the conglomerate's stock after acquiring an additional 270,458 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.76% of 3M worth $637,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of MMM. North Star Asset Management Inc. bought a new stake in shares of 3M in the 2nd quarter worth about $1,424,000. FSA Advisors Inc. bought a new stake in 3M during the fourth quarter worth approximately $1,625,000. PFA Pension Forsikringsaktieselskab purchased a new stake in 3M during the fourth quarter valued at approximately $65,009,000. Catalyst Funds Management Pty Ltd lifted its stake in shares of 3M by 260.4% in the 4th quarter. Catalyst Funds Management Pty Ltd now owns 17,300 shares of the conglomerate's stock valued at $2,770,000 after purchasing an additional 12,500 shares during the last quarter. Finally, Entropy Technologies LP bought a new stake in shares of 3M in the 1st quarter valued at approximately $10,945,000. 65.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MMM has been the topic of several recent research reports. Weiss Ratings upgraded 3M from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $192.00 target price on shares of 3M in a research note on Wednesday, July 22nd. Jefferies Financial Group lifted their price target on shares of 3M from $170.00 to $175.00 and gave the stock a "hold" rating in a research note on Monday, June 29th. Wolfe Research reiterated an "outperform" rating on shares of 3M in a report on Thursday, July 9th. Finally, Sanford C. Bernstein boosted their target price on 3M from $140.00 to $145.00 and gave the company an "underperform" rating in a research report on Wednesday, July 22nd. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, 3M presently has an average rating of "Hold" and a consensus target price of $177.21.

3M Stock Performance

Shares of NYSE:MMM opened at $174.14 on Friday. The company has a market capitalization of $89.81 billion, a price-to-earnings ratio of 30.93, a price-to-earnings-growth ratio of 2.11 and a beta of 1.01. 3M Company has a 52 week low of $139.34 and a 52 week high of $184.90. The company has a quick ratio of 0.91, a current ratio of 1.24 and a debt-to-equity ratio of 3.63. The firm has a 50 day moving average of $171.09 and a 200 day moving average of $159.46.

3M (NYSE:MMM - Get Free Report) last announced its earnings results on Tuesday, July 21st. The conglomerate reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.15. 3M had a return on equity of 115.87% and a net margin of 11.90%.The business had revenue of $6.50 billion for the quarter, compared to analysts' expectations of $6.40 billion. During the same quarter last year, the firm earned $2.16 EPS. The business's revenue for the quarter was up 2.5% on a year-over-year basis. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. On average, sell-side analysts predict that 3M Company will post 8.96 earnings per share for the current fiscal year.

3M Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 24th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Monday, August 24th. 3M's dividend payout ratio (DPR) is currently 55.42%.

Insider Activity at 3M

In related news, insider Rodriguez Beatriz Karin Chavez sold 3,635 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $182.51, for a total transaction of $663,423.85. Following the completion of the sale, the insider owned 14,035 shares of the company's stock, valued at $2,561,527.85. This represents a 20.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.19% of the stock is currently owned by company insiders.

3M Company Profile

3M Company, originally founded in 1902 as the Minnesota Mining and Manufacturing Company, is a diversified global technology and manufacturing firm headquartered in St. Paul, Minnesota. Over its history the company has expanded from mineral mining into a broad portfolio of industrial, safety, healthcare and consumer products, building a reputation for applied science and product innovation across many end markets.

3M's businesses span a wide range of product categories including adhesives and tapes, abrasives, filtration and separation technologies, personal protective equipment such as respirators, medical and dental products, industrial and automotive solutions, and a suite of consumer brands (for example, well-known office and home products).

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