3M (NYSE:MMM) Shares Purchased by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH grew its stake in shares of 3M (NYSE:MMM) by 14.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 448,646 shares of the conglomerate’s stock after purchasing an additional 58,086 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in 3M were worth $57,916,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Exchange Bank boosted its holdings in 3M by 7.9% in the 4th quarter. Exchange Bank now owns 3,410 shares of the conglomerate’s stock worth $440,000 after acquiring an additional 250 shares during the period. Charles Schwab Trust Co boosted its stake in shares of 3M by 13.8% in the fourth quarter. Charles Schwab Trust Co now owns 3,946 shares of the conglomerate’s stock valued at $509,000 after purchasing an additional 480 shares during the period. Mitchell & Pahl Private Wealth LLC grew its holdings in 3M by 3.6% during the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 21,650 shares of the conglomerate’s stock valued at $2,795,000 after purchasing an additional 759 shares in the last quarter. Strong Tower Advisory Services increased its stake in 3M by 4.5% during the 4th quarter. Strong Tower Advisory Services now owns 46,715 shares of the conglomerate’s stock worth $6,030,000 after buying an additional 2,020 shares during the period. Finally, Diversify Wealth Management LLC lifted its holdings in 3M by 32.5% in the 4th quarter. Diversify Wealth Management LLC now owns 5,021 shares of the conglomerate’s stock worth $659,000 after buying an additional 1,232 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Wall Street Analysts Forecast Growth

MMM has been the subject of several recent analyst reports. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research note on Tuesday, October 22nd. UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of 3M in a research note on Saturday. Bank of America lifted their price target on shares of 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company boosted their price objective on 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.13.

3M Stock Performance

Shares of MMM opened at $146.86 on Wednesday. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43. 3M has a 1 year low of $75.40 and a 1 year high of $150.00. The firm has a fifty day moving average of $131.40 and a 200-day moving average of $128.20. The company has a market cap of $79.98 billion, a price-to-earnings ratio of 18.54, a price-to-earnings-growth ratio of 2.30 and a beta of 0.95.

3M (NYSE:MMM) last posted its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping the consensus estimate of $1.66 by $0.02. The firm had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5,770,390 billion. 3M had a net margin of 15.37% and a return on equity of 104.66%. 3M’s quarterly revenue was down 25.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.42 EPS. As a group, equities analysts anticipate that 3M will post 7.28 earnings per share for the current year.

3M Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s payout ratio is currently 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.