Ariadne Wealth Management LP Takes $245,000 Position in 3M (NYSE:MMM)

Ariadne Wealth Management LP purchased a new stake in shares of 3M (NYSE:MMM) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,397 shares of the conglomerate’s stock, valued at approximately $245,000.

Several other institutional investors also recently modified their holdings of the business. Tributary Capital Management LLC acquired a new position in 3M during the 1st quarter valued at about $25,000. Financial Synergies Wealth Advisors Inc. raised its stake in shares of 3M by 419.1% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after acquiring an additional 197 shares in the last quarter. MFA Wealth Advisors LLC purchased a new stake in 3M during the 2nd quarter valued at about $28,000. Meeder Asset Management Inc. increased its position in shares of 3M by 689.7% in the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 269 shares during the period. Finally, Northwest Investment Counselors LLC purchased a new stake in 3M in the first quarter worth $32,000. Institutional investors own 65.25% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on MMM shares. Barclays raised their price objective on 3M from $120.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised 3M from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $110.00 to $150.00 in a report on Monday, July 29th. Bank of America increased their price target on shares of 3M from $120.00 to $143.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Wells Fargo & Company boosted their price objective on 3M from $100.00 to $110.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 10th. Finally, StockNews.com lowered 3M from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $124.43.

Insiders Place Their Bets

In other news, Chairman Michael F. Roman sold 5,675 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the completion of the sale, the chairman now owns 174,036 shares of the company’s stock, valued at $21,486,484.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Theresa E. Reinseth sold 2,100 shares of 3M stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total transaction of $260,652.00. Following the sale, the chief financial officer now directly owns 4,364 shares in the company, valued at $541,659.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Michael F. Roman sold 5,675 shares of 3M stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total value of $700,635.50. Following the transaction, the chairman now owns 174,036 shares in the company, valued at $21,486,484.56. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

3M Price Performance

Shares of NYSE MMM opened at $136.70 on Tuesday. 3M has a fifty-two week low of $71.12 and a fifty-two week high of $140.72. The firm has a market capitalization of $75.64 billion, a PE ratio of -10.75, a price-to-earnings-growth ratio of 2.51 and a beta of 0.95. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.08 and a current ratio of 1.36. The stock’s 50-day simple moving average is $128.62 and its 200-day simple moving average is $109.68.

3M (NYSE:MMM) last announced its quarterly earnings data on Friday, July 26th. The conglomerate reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.25. The firm had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $5.85 billion. 3M had a net margin of 3.08% and a return on equity of 112.92%. During the same quarter last year, the firm earned $2.17 earnings per share. As a group, equities research analysts forecast that 3M will post 7.22 EPS for the current fiscal year.

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Monday, August 26th. 3M’s dividend payout ratio is currently -22.01%.

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.