Integris Wealth Management LLC Trims Holdings in 3M (NYSE:MMM)

Integris Wealth Management LLC lowered its stake in shares of 3M (NYSE:MMM) by 4.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,780 shares of the conglomerate’s stock after selling 123 shares during the period. Integris Wealth Management LLC’s holdings in 3M were worth $284,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Jade Capital Advisors LLC acquired a new stake in shares of 3M during the fourth quarter worth about $4,373,000. Scarborough Advisors LLC purchased a new position in 3M in the 4th quarter valued at approximately $978,000. KMG Fiduciary Partners LLC grew its stake in shares of 3M by 2.2% in the first quarter. KMG Fiduciary Partners LLC now owns 14,769 shares of the conglomerate’s stock worth $1,567,000 after acquiring an additional 311 shares in the last quarter. Norden Group LLC increased its position in shares of 3M by 1,381.0% during the first quarter. Norden Group LLC now owns 65,341 shares of the conglomerate’s stock worth $6,930,000 after acquiring an additional 60,929 shares during the period. Finally, Financial Synergies Wealth Advisors Inc. raised its stake in shares of 3M by 419.1% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock valued at $26,000 after acquiring an additional 197 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of 3M from a “hold” rating to a “buy” rating and lifted their price target for the stock from $110.00 to $150.00 in a research note on Monday, July 29th. Wells Fargo & Company increased their target price on 3M from $100.00 to $110.00 and gave the company an “equal weight” rating in a report on Wednesday, July 10th. Vertical Research raised 3M from a “hold” rating to a “buy” rating and lifted their price target for the stock from $92.00 to $140.00 in a report on Thursday, May 16th. Bank of America increased their price objective on 3M from $120.00 to $143.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, StockNews.com cut 3M from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $123.57.

Insider Buying and Selling at 3M

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

3M Price Performance

NYSE:MMM traded down $0.11 during trading hours on Friday, hitting $127.05. The company’s stock had a trading volume of 3,812,693 shares, compared to its average volume of 5,347,996. 3M has a 52-week low of $71.12 and a 52-week high of $128.65. 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 business’s 50-day moving average is $109.69 and its two-hundred day moving average is $101.18. The company has a market capitalization of $70.30 billion, a PE ratio of -9.99, a PEG ratio of 2.34 and a beta of 0.95.

3M (NYSE:MMM) last issued its earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.25. The company had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $5.85 billion. 3M had a net margin of 3.08% and a return on equity of 112.92%. During the same period last year, the company posted $2.17 earnings per share. As a group, research analysts anticipate that 3M will post 7.21 EPS for the current fiscal year.

3M Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Monday, August 26th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.20%. 3M’s payout ratio is currently -22.01%.

3M 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.