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

Fort Washington Investment Advisors Inc. OH lessened its holdings in 3M (NYSE:MMM - Free Report) by 20.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 355,694 shares of the conglomerate's stock after selling 92,952 shares during the period. Fort Washington Investment Advisors Inc. OH owned about 0.07% of 3M worth $52,237,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. REAP Financial Group LLC lifted its position in shares of 3M by 88.7% in the 4th quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate's stock worth $26,000 after purchasing an additional 94 shares during the period. Curat Global LLC bought a new position in shares of 3M during the 1st quarter worth approximately $29,000. Hazlett Burt & Watson Inc. bought a new position in shares of 3M during the 4th quarter worth approximately $27,000. Pinney & Scofield Inc. bought a new position in shares of 3M during the 4th quarter worth approximately $28,000. 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 acquiring an additional 214 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Citigroup upped their price target on shares of 3M from $141.00 to $160.00 and gave the company a "neutral" rating in a research note on Friday, May 30th. Bank of America upped their price target on shares of 3M from $175.00 to $179.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Barclays increased their price objective on shares of 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, 3M currently has an average rating of "Moderate Buy" and an average target price of $153.46.

Insider Buying and Selling

In related news, EVP Zoe L. Dickson sold 7,915 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $149.02, for a total value of $1,179,493.30. Following the sale, the executive vice president now directly owns 6,127 shares in the company, valued at $913,045.54. The trade was a 56.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John Patrick Banovetz sold 7,759 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $148.37, for a total transaction of $1,151,202.83. Following the completion of the transaction, the executive vice president now owns 31,372 shares in the company, valued at approximately $4,654,663.64. This trade represents a 19.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.48% of the company's stock.

3M Stock Performance

Shares of 3M stock traded down $2.60 during trading on Friday, reaching $142.17. The company's stock had a trading volume of 1,614,788 shares, compared to its average volume of 3,848,437. The company has a 50-day moving average price of $141.94 and a two-hundred day moving average price of $141.71. The firm has a market cap of $76.51 billion, a PE ratio of 18.83, a P/E/G ratio of 3.30 and a beta of 1.03. 3M has a fifty-two week low of $98.26 and a fifty-two week high of $156.35. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86.

3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.11. The company had revenue of $5.80 billion for the quarter, compared to analysts' expectations of $5.78 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. On average, analysts forecast that 3M will post 7.8 EPS for the current year.

3M Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were given a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 2.05%. 3M's dividend payout ratio is presently 36.87%.

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.