Ameliora Wealth Management Ltd. Buys New Position in 3M (NYSE:MMM)

Ameliora Wealth Management Ltd. bought a new stake in shares of 3M (NYSE:MMM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 750 shares of the conglomerate’s stock, valued at approximately $97,000.

Other hedge funds have also modified their holdings of the company. D.A. Davidson & CO. increased its holdings in shares of 3M by 16.2% in the third quarter. D.A. Davidson & CO. now owns 146,333 shares of the conglomerate’s stock valued at $20,004,000 after purchasing an additional 20,421 shares during the period. Franklin Resources Inc. increased its holdings in shares of 3M by 26.8% in the third quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate’s stock valued at $114,770,000 after purchasing an additional 178,450 shares during the period. Meyer Handelman Co. increased its holdings in shares of 3M by 1.4% in the fourth quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate’s stock valued at $25,511,000 after purchasing an additional 2,678 shares during the period. Ballentine Partners LLC boosted its stake in shares of 3M by 40.1% in the third quarter. Ballentine Partners LLC now owns 18,217 shares of the conglomerate’s stock worth $2,490,000 after buying an additional 5,210 shares during the last quarter. Finally, Stonegate Investment Group LLC boosted its stake in shares of 3M by 5.6% in the third quarter. Stonegate Investment Group LLC now owns 252,847 shares of the conglomerate’s stock worth $34,564,000 after buying an additional 13,473 shares during the last quarter. 65.25% of the stock is owned by institutional investors and hedge funds.

3M Trading Down 0.1 %

MMM opened at $152.28 on Friday. 3M has a 52 week low of $75.40 and a 52 week high of $155.00. The business has a fifty day simple moving average of $136.38 and a 200-day simple moving average of $132.07. The firm has a market cap of $82.92 billion, a P/E ratio of 20.17, a P/E/G ratio of 3.37 and a beta of 0.96. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86.

3M (NYSE:MMM) last released its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. The firm had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. 3M’s revenue was down 25.0% compared to the same quarter last year. During the same period last year, the business posted $2.42 earnings per share. On average, equities analysts expect that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be given a dividend of $0.73 per share. This is a boost from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Friday, February 14th. 3M’s dividend payout ratio is currently 37.09%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MMM shares. Weiss Ratings restated a “hold (c)” rating on shares of 3M in a research note on Saturday, February 1st. UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and upped their target price for the stock from $130.00 to $184.00 in a research note on Wednesday, November 13th. Royal Bank of Canada reiterated an “underperform” rating and set a $96.00 price target on shares of 3M in a research report on Wednesday, January 22nd. Mizuho increased their price target on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Citigroup increased their price target on 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $148.87.

Insider Transactions at 3M

In other news, insider Christian T. Goralski, Jr. sold 6,318 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $149.43, for a total value of $944,098.74. Following the completion of the sale, the insider now directly owns 5,024 shares of the company’s stock, valued at approximately $750,736.32. The trade was a 55.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kevin H. Rhodes sold 6,743 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $149.85, for a total value of $1,010,438.55. Following the completion of the sale, the executive vice president now directly owns 4,902 shares of the company’s stock, valued at $734,564.70. The trade was a 57.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,639 shares of company stock valued at $17,163,446. 0.38% of the stock is currently owned by corporate insiders.

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.