Integris Wealth Management LLC Reduces Position in 3M (NYSE:MMM)

Integris Wealth Management LLC decreased its holdings in 3M (NYSE:MMM) by 8.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,721 shares of the conglomerate’s stock after selling 259 shares during the quarter. Integris Wealth Management LLC’s holdings in 3M were worth $351,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. D.A. Davidson & CO. lifted its position in 3M by 16.2% during 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. raised its stake in 3M by 26.8% during the 3rd quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate’s stock valued at $114,770,000 after buying an additional 178,450 shares during the last quarter. Meyer Handelman Co. lifted its holdings in shares of 3M by 1.4% during the 4th quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate’s stock valued at $25,511,000 after buying an additional 2,678 shares during the period. Ballentine Partners LLC boosted its stake in shares of 3M by 40.1% in the 3rd 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 grew its holdings 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 acquiring an additional 13,473 shares during the period. Institutional investors own 65.25% of the company’s stock.

Insider Activity at 3M

In other 3M news, EVP Kevin H. Rhodes sold 6,743 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $149.85, for a total transaction of $1,010,438.55. Following the sale, the executive vice president now directly owns 4,902 shares in the company, valued at $734,564.70. This represents a 57.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Michael F. Roman sold 49,598 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $152.30, for a total value of $7,553,775.40. Following the transaction, the chairman now directly owns 180,895 shares in the company, valued at approximately $27,550,308.50. This represents a 21.52 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 111,889 shares of company stock valued at $16,893,561. 0.34% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MMM has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their target price on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Citigroup increased their price objective on shares of 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and boosted their target price for the company from $130.00 to $184.00 in a research report on Wednesday, November 13th. Mizuho lifted their price target on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a research note on Tuesday, October 22nd. Two 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $148.87.

3M Price Performance

MMM stock opened at $154.31 on Friday. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The company’s fifty day moving average price is $134.20 and its 200-day moving average price is $130.37. 3M has a one year low of $75.40 and a one year high of $154.65. The company has a market capitalization of $84.03 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 3.35 and a beta of 0.95.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share 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%. The business’s quarterly revenue was down 25.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.42 earnings per share. On average, equities analysts anticipate that 3M will post 7.8 EPS for the current fiscal year.

3M Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were given 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 1.81%. 3M’s dividend payout ratio is currently 37.09%.

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.