Mitsubishi UFJ Asset Management Co. Ltd. Has $128.30 Million Position in 3M (NYSE:MMM)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in 3M (NYSE:MMM - Free Report) by 5.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 987,896 shares of the conglomerate's stock after buying an additional 50,641 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.18% of 3M worth $128,298,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of MMM. Financial Life Planners acquired a new stake in 3M in the 4th quarter valued at approximately $25,000. Proficio Capital Partners LLC bought a new stake in shares of 3M in the fourth quarter valued at approximately $26,000. FSA Wealth Management LLC acquired a new stake in shares of 3M in the third quarter worth $27,000. Daymark Wealth Partners LLC increased its position in 3M by 9.0% during the fourth quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate's stock worth $31,000 after acquiring an additional 19,552 shares during the period. Finally, ORG Partners LLC raised its stake in 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate's stock valued at $41,000 after purchasing an additional 98 shares during the last quarter. 65.25% of the stock is owned by institutional investors.

3M Price Performance

3M stock traded down $3.70 during trading hours on Friday, hitting $144.74. 2,581,499 shares of the stock were exchanged, compared to its average volume of 4,133,279. The stock has a market capitalization of $78.58 billion, a P/E ratio of 19.17, a P/E/G ratio of 3.30 and a beta of 0.97. The business's 50-day moving average is $149.60 and its two-hundred day moving average is $138.23. 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 12 month low of $88.23 and a 12 month high of $156.35.

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3M (NYSE:MMM - Get Free Report) last released its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping analysts' consensus estimates of $1.66 by $0.02. The business had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. 3M's revenue for the quarter was down 25.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.42 EPS. Equities research analysts expect that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were issued a $0.73 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 2.02%. This is a positive change from 3M's previous quarterly dividend of $0.70. 3M's dividend payout ratio (DPR) is currently 38.68%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MMM shares. Royal Bank of Canada restated an "underperform" rating and set a $96.00 price objective on shares of 3M in a report on Thursday, February 27th. Bank of America upped their price target on 3M from $175.00 to $179.00 and gave the company a "buy" rating in a report on Thursday, March 6th. JPMorgan Chase & Co. lifted their price objective on 3M from $162.00 to $165.00 and gave the stock an "overweight" rating in a report on Wednesday, January 22nd. Citigroup upped their target price on 3M from $142.00 to $152.00 and gave the company a "neutral" rating in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company upgraded shares of 3M from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, 3M currently has a consensus rating of "Moderate Buy" and a consensus price target of $149.13.

Insider Buying and Selling

In related news, CAO Theresa E. Reinseth sold 2,309 shares of the business's stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $149.95, for a total transaction of $346,234.55. Following the completion of the sale, the chief accounting officer now directly owns 4,417 shares of the company's stock, valued at $662,329.15. The trade was a 34.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the firm's stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $149.43, for a total transaction of $944,098.74. Following the completion of the transaction, the insider now directly owns 5,024 shares in the company, valued at approximately $750,736.32. The trade was a 55.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,639 shares of company stock worth $17,163,446 in the last quarter. 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.