8,040 Shares in 3M (NYSE:MMM) Bought by Mufg Securities Americas Inc.

Mufg Securities Americas Inc. acquired a new stake in shares of 3M (NYSE:MMM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 8,040 shares of the conglomerate’s stock, valued at approximately $1,038,000.

A number of other large investors have also recently made changes to their positions in MMM. Geode Capital Management LLC increased its holdings in shares of 3M by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 11,574,414 shares of the conglomerate’s stock valued at $1,493,655,000 after acquiring an additional 280,048 shares in the last quarter. Northern Trust Corp increased its stake in shares of 3M by 12.6% in the 4th quarter. Northern Trust Corp now owns 6,752,944 shares of the conglomerate’s stock worth $871,738,000 after acquiring an additional 755,155 shares during the last quarter. Capital World Investors increased its position in shares of 3M by 25.4% during the 4th quarter. Capital World Investors now owns 6,153,924 shares of the conglomerate’s stock worth $794,410,000 after purchasing an additional 1,248,093 shares during the last quarter. Bank of New York Mellon Corp grew its position in 3M by 9.2% in the 4th quarter. Bank of New York Mellon Corp now owns 5,689,486 shares of the conglomerate’s stock valued at $734,456,000 after acquiring an additional 479,621 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of 3M in the 4th quarter valued at about $636,767,000. 65.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MMM has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their target price on 3M from $165.00 to $140.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Barclays boosted their target price on 3M from $160.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 23rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of 3M in a research report on Saturday, May 10th. Bank of America raised their price objective on 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Finally, Royal Bank of Canada increased 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. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, 3M has a consensus rating of “Moderate Buy” and an average target price of $149.29.

3M Stock Down 1.8%

Shares of MMM opened at $148.04 on Thursday. 3M has a one year low of $96.76 and a one year high of $156.35. The company has a market cap of $79.67 billion, a P/E ratio of 19.61, a P/E/G ratio of 3.30 and a beta of 1.02. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The firm has a 50 day simple moving average of $141.47 and a two-hundred day simple moving average of $139.02.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.11. The firm had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.78 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. Research analysts forecast that 3M will post 7.8 EPS for the current fiscal year.

3M Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.97%. 3M’s dividend payout ratio (DPR) is presently 36.87%.

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.