Ariadne Wealth Management LP Has $366,000 Holdings in 3M (NYSE:MMM)

Ariadne Wealth Management LP increased its holdings in shares of 3M (NYSE:MMM) by 5.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,838 shares of the conglomerate’s stock after purchasing an additional 141 shares during the quarter. Ariadne Wealth Management LP’s holdings in 3M were worth $366,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in MMM. State Street Corp raised its position in 3M by 1.1% during the third quarter. State Street Corp now owns 27,194,612 shares of the conglomerate’s stock worth $3,717,503,000 after acquiring an additional 302,900 shares in the last quarter. FMR LLC raised its holdings in shares of 3M by 88.7% in the 3rd quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock valued at $1,225,087,000 after purchasing an additional 4,212,409 shares during the period. Bank of New York Mellon Corp grew its holdings in 3M by 9.2% during the fourth quarter. Bank of New York Mellon Corp now owns 5,689,486 shares of the conglomerate’s stock worth $734,456,000 after purchasing an additional 479,621 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in 3M by 1.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,815,625 shares of the conglomerate’s stock worth $521,596,000 after buying an additional 43,942 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in 3M by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,577,045 shares of the conglomerate’s stock valued at $461,761,000 after buying an additional 17,228 shares during the period. Institutional investors own 65.25% of the company’s stock.

Insider Activity at 3M

In related news, CAO Theresa E. Reinseth sold 2,309 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.95, for a total transaction of $346,234.55. Following the transaction, the chief accounting officer now directly owns 4,417 shares of the company’s stock, valued at approximately $662,329.15. This represents a 34.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Victoria Clarke sold 1,750 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 194 shares of the company’s stock, valued at $29,918.68. This trade represents a 90.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,639 shares of company stock worth $17,163,446 in the last quarter. Company insiders own 0.34% of the company’s stock.

3M Price Performance

Shares of MMM opened at $153.35 on Tuesday. The business has a 50-day moving average of $148.72 and a 200-day moving average of $137.71. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The company has a market capitalization of $83.25 billion, a price-to-earnings ratio of 20.31, a price-to-earnings-growth ratio of 3.30 and a beta of 0.97. 3M has a 1 year low of $85.62 and a 1 year high of $156.35.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) 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 the consensus estimate of $5.77 billion. During the same quarter in the previous year, the company earned $2.42 EPS. The company’s revenue for the quarter was down 25.0% on a year-over-year basis. As a group, equities research analysts anticipate that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were paid a $0.73 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a yield of 1.90%. 3M’s payout ratio is 38.68%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MMM shares. Wells Fargo & Company raised 3M from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $140.00 to $170.00 in a report on Wednesday, January 22nd. Royal Bank of Canada reiterated an “underperform” rating and issued a $96.00 price objective on shares of 3M in a report on Thursday, February 27th. Barclays lifted their target price on shares of 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. raised their price objective on shares of 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Finally, Citigroup upped their target price on 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, 3M has a consensus rating of “Moderate Buy” and an average target price of $149.13.

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.