UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stake in 3M (NYSE:MMM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in 3M (NYSE:MMM - Free Report) by 1.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,815,625 shares of the conglomerate's stock after purchasing an additional 43,942 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.70% of 3M worth $521,596,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. CVA Family Office LLC lifted its position in 3M by 1.9% during the 3rd 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 during the period. Harbour Investments Inc. lifted its holdings in shares of 3M by 0.8% during the third quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate's stock valued at $1,443,000 after purchasing an additional 81 shares during the last quarter. Fortis Capital Advisors LLC boosted its position in shares of 3M by 2.9% in the 2nd quarter. Fortis Capital Advisors LLC now owns 3,001 shares of the conglomerate's stock worth $307,000 after purchasing an additional 84 shares in the last quarter. KMG Fiduciary Partners LLC grew its stake in shares of 3M by 0.5% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate's stock worth $2,213,000 after buying an additional 84 shares during the last quarter. Finally, TCV Trust & Wealth Management Inc. increased its position in 3M by 1.3% during the 3rd quarter. TCV Trust & Wealth Management Inc. now owns 6,464 shares of the conglomerate's stock valued at $884,000 after buying an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on MMM. Morgan Stanley started coverage on 3M in a research note on Friday, September 6th. They issued an "underweight" rating and a $125.00 target price on the stock. Bank of America increased their price objective on shares of 3M from $143.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Royal Bank of Canada lifted their target price on shares of 3M from $99.00 to $100.00 and gave the stock an "underperform" rating in a report on Wednesday, October 23rd. UBS Group raised shares of 3M from a "neutral" rating to a "buy" rating and raised their price target for the company from $130.00 to $184.00 in a research report on Wednesday, November 13th. Finally, Barclays upped their price objective on 3M from $160.00 to $165.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, 3M has an average rating of "Moderate Buy" and an average price target of $144.87.

3M Stock Performance

3M stock traded up $1.05 during trading on Friday, reaching $133.53. The company had a trading volume of 1,618,282 shares, compared to its average volume of 4,762,183. The firm's 50-day simple moving average is $132.39 and its 200 day simple moving average is $120.16. 3M has a 52 week low of $75.40 and a 52 week high of $141.34. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. The firm has a market capitalization of $72.71 billion, a price-to-earnings ratio of 16.86, a price-to-earnings-growth ratio of 2.19 and a beta of 0.95.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, beating analysts' consensus estimates of $1.93 by $0.05. 3M had a return on equity of 104.66% and a net margin of 15.37%. The firm had revenue of $6.29 billion for the quarter, compared to analysts' expectations of $6.06 billion. During the same period in the previous year, the firm earned $2.68 EPS. The business's quarterly revenue was down 24.3% on a year-over-year basis. Sell-side analysts forecast that 3M will post 7.27 earnings per share for the current fiscal year.

3M Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.10%. 3M's dividend payout ratio (DPR) is presently 35.35%.

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.