OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $7.27 Million Stock Position in 3M (NYSE:MMM)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in shares of 3M (NYSE:MMM) by 63.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 56,300 shares of the conglomerate’s stock after selling 96,500 shares during the quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in 3M were worth $7,268,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Financial Life Planners purchased a new stake in shares of 3M during the 4th quarter worth about $25,000. Proficio Capital Partners LLC purchased a new stake in shares of 3M during the 4th quarter worth about $26,000. Hazlett Burt & Watson Inc. purchased a new stake in shares of 3M during the 4th quarter worth about $27,000. Daymark Wealth Partners LLC raised its stake in shares of 3M by 9.0% during the 4th quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 19,552 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its stake in shares of 3M by 230.1% during the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate’s stock worth $40,000 after purchasing an additional 214 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Analyst Upgrades and Downgrades

MMM has been the subject of a number of recent research reports. Wells Fargo & Company raised 3M from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Royal Bank of Canada raised their price objective on 3M from $98.00 to $100.00 and gave the company an “underperform” rating in a research note on Wednesday, April 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of 3M in a research note on Saturday. Citigroup cut their price objective on 3M from $152.00 to $142.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Finally, Barclays raised their price objective on 3M from $160.00 to $164.00 and gave the company an “overweight” rating in a research note on Wednesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $149.29.

3M Stock Up 5.5%

NYSE:MMM opened at $150.37 on Tuesday. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The company has a market cap of $80.93 billion, a PE ratio of 19.92, a PEG ratio of 3.30 and a beta of 1.02. 3M has a 52-week low of $96.76 and a 52-week high of $156.35. The stock has a 50-day simple moving average of $141.36 and a 200 day simple moving average of $138.88.

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

3M 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.