Gateway Investment Advisers LLC Purchases 3,309 Shares of 3M (NYSE:MMM)

Gateway Investment Advisers LLC grew its stake in 3M (NYSE:MMM - Free Report) by 51.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,779 shares of the conglomerate's stock after buying an additional 3,309 shares during the period. Gateway Investment Advisers LLC's holdings in 3M were worth $1,262,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. FSA Wealth Management LLC bought a new position in shares of 3M in the 3rd quarter worth about $27,000. McClarren Financial Advisors Inc. lifted its stake in 3M by 118.6% in the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate's stock valued at $30,000 after buying an additional 121 shares during the period. True Wealth Design LLC boosted its holdings in shares of 3M by 2,466.7% during the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate's stock worth $42,000 after buying an additional 296 shares in the last quarter. ORG Partners LLC grew its position in shares of 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate's stock worth $41,000 after buying an additional 98 shares during the period. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of 3M during the 3rd quarter worth approximately $57,000. 65.25% of the stock is currently owned by institutional investors.

3M Stock Performance

Shares of MMM stock traded up $1.84 during trading hours on Friday, hitting $141.02. 5,717,193 shares of the company were exchanged, compared to its average volume of 2,528,391. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. The stock has a market capitalization of $76.80 billion, a price-to-earnings ratio of 17.81, a P/E/G ratio of 2.01 and a beta of 0.95. The firm has a fifty day simple moving average of $131.24 and a 200 day simple moving average of $127.74. 3M has a 52-week low of $75.40 and a 52-week high of $141.66.

3M (NYSE:MMM - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.05. The firm had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. The business's revenue was down 24.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.68 earnings per share. Research analysts predict that 3M will post 7.27 earnings per share for the current fiscal year.

3M Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend was Friday, November 15th. 3M's payout ratio is currently 35.35%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MMM. Barclays decreased their price target on shares of 3M from $165.00 to $161.00 and set an "overweight" rating for the company in a research note on Wednesday, January 8th. UBS Group raised 3M from a "neutral" rating to a "buy" rating and raised their price objective for the company from $130.00 to $184.00 in a research note on Wednesday, November 13th. Weiss Ratings reiterated a "hold (c)" rating on shares of 3M in a report on Saturday. Royal Bank of Canada reduced their price target on shares of 3M from $100.00 to $96.00 and set an "underperform" rating for the company in a research report on Friday, January 3rd. Finally, Wells Fargo & Company upped their price objective on shares of 3M from $130.00 to $140.00 and gave the stock an "equal weight" rating in a report on Monday, October 7th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $144.13.

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.