Bahl & Gaynor Inc. Acquires 120 Shares of 3M (NYSE:MMM)

Bahl & Gaynor Inc. increased its holdings in shares of 3M (NYSE:MMM) by 1.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 12,206 shares of the conglomerate’s stock after purchasing an additional 120 shares during the period. Bahl & Gaynor Inc.’s holdings in 3M were worth $1,576,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Financial Life Planners bought a new position in 3M during the fourth quarter worth about $25,000. FSA Wealth Management LLC bought a new position in 3M during the third quarter worth about $27,000. True Wealth Design LLC grew its holdings in 3M by 2,466.7% during the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after purchasing an additional 296 shares during the period. ORG Partners LLC grew its holdings in 3M by 44.1% during the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after purchasing an additional 98 shares during the period. Finally, Catalyst Capital Advisors LLC lifted its position in 3M by 81.5% during the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the conglomerate’s stock worth $47,000 after acquiring an additional 163 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

Insider Buying and Selling

In related news, EVP Victoria Clarke sold 1,750 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $154.22, for a total value of $269,885.00. Following the transaction, the executive vice president now owns 194 shares in the company, valued at $29,918.68. The trade was a 90.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the business’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $150.25, for a total transaction of $247,161.25. Following the completion of the transaction, the insider now owns 5,153 shares in the company, valued at approximately $774,238.25. The trade was a 24.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,639 shares of company stock valued at $17,163,446 over the last 90 days. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

MMM has been the subject of several research reports. UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $130.00 to $184.00 in a research report on Wednesday, November 13th. Barclays raised their price objective on shares of 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Weiss Ratings restated a “hold (c)” rating on shares of 3M in a research report on Wednesday, February 19th. Wells Fargo & Company upgraded shares of 3M from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Finally, Royal Bank of Canada restated an “underperform” rating and set a $96.00 price objective on shares of 3M in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, 3M currently has an average rating of “Moderate Buy” and a consensus price target of $148.87.

3M Stock Performance

NYSE MMM opened at $145.76 on Wednesday. The firm’s fifty day moving average price is $143.53 and its two-hundred day moving average price is $135.87. The stock has a market cap of $79.13 billion, a PE ratio of 19.31, a PEG ratio of 3.30 and a beta of 0.96. 3M has a fifty-two week low of $76.56 and a fifty-two week high of $156.35. 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 (NYSE:MMM) last posted its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. 3M had a net margin of 15.71% and a return on equity of 100.77%. The firm had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.77 billion. During the same quarter in the previous year, the firm posted $2.42 earnings per share. The company’s revenue was down 25.0% on a year-over-year basis. On average, equities analysts expect that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 14th will be paid a $0.73 dividend. This is a boost from 3M’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.92 annualized dividend and a dividend yield of 2.00%. 3M’s payout ratio is currently 38.68%.

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.