Tealwood Asset Management Inc. Makes New $2.37 Million Investment in 3M (NYSE:MMM)

Tealwood Asset Management Inc. acquired a new stake in 3M (NYSE:MMM) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 18,375 shares of the conglomerate’s stock, valued at approximately $2,372,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. FSA Wealth Management LLC acquired a new position in shares of 3M during the 3rd quarter worth approximately $27,000. McClarren Financial Advisors Inc. grew its stake in shares of 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 in the last quarter. Meeder Asset Management Inc. increased its holdings in 3M by 689.7% during the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock worth $31,000 after buying an additional 269 shares during the last quarter. True Wealth Design LLC raised its position 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 acquiring an additional 296 shares in the last quarter. Finally, ORG Partners LLC lifted its stake in 3M by 44.1% in the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after acquiring an additional 98 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Trading Up 2.5 %

MMM opened at $134.54 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41. 3M has a twelve month low of $75.40 and a twelve month high of $141.34. The stock has a market capitalization of $73.26 billion, a price-to-earnings ratio of 16.99, a P/E/G ratio of 2.15 and a beta of 0.95. The company has a 50-day simple moving average of $130.69 and a 200 day simple moving average of $126.87.

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

3M Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.08%. 3M’s dividend payout ratio (DPR) is currently 35.35%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on MMM shares. Mizuho raised their target price on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. 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 report on Wednesday, November 13th. Royal Bank of Canada decreased their target price on 3M from $100.00 to $96.00 and set an “underperform” rating on the stock in a report on Friday, January 3rd. Bank of America raised their price target on 3M from $143.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Melius upgraded shares of 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, 3M has a consensus rating of “Moderate Buy” and an average target price of $144.33.

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.