International Assets Investment Management LLC Sells 465 Shares of 3M (NYSE:MMM)

International Assets Investment Management LLC lessened its position in 3M (NYSE:MMM) by 4.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,779 shares of the conglomerate’s stock after selling 465 shares during the quarter. International Assets Investment Management LLC’s holdings in 3M were worth $1,102,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Silver Oak Securities Incorporated increased its holdings in shares of 3M by 7.0% during the 4th quarter. Silver Oak Securities Incorporated now owns 2,673 shares of the conglomerate’s stock worth $292,000 after purchasing an additional 174 shares during the period. Gilbert & Cook Inc. bought a new position in shares of 3M during the 4th quarter worth about $481,000. Certuity LLC bought a new position in shares of 3M during the 4th quarter worth about $247,000. Brighton Jones LLC increased its holdings in shares of 3M by 5.8% during the 4th quarter. Brighton Jones LLC now owns 9,502 shares of the conglomerate’s stock worth $1,039,000 after purchasing an additional 522 shares during the period. Finally, Savant Capital LLC increased its holdings in shares of 3M by 3.2% during the 4th quarter. Savant Capital LLC now owns 20,441 shares of the conglomerate’s stock worth $2,235,000 after purchasing an additional 643 shares during the period. Institutional investors own 65.25% of the company’s stock.

3M Price Performance

NYSE:MMM opened at $134.69 on Friday. The firm has a market cap of $74.53 billion, a PE ratio of -10.59, a price-to-earnings-growth ratio of 2.34 and a beta of 0.95. 3M has a 12 month low of $71.12 and a 12 month high of $134.99. The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 2.95. The company’s 50-day moving average price is $114.92 and its two-hundred day moving average price is $103.34.

3M (NYSE:MMM) last announced its earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.25. 3M had a net margin of 3.08% and a return on equity of 112.92%. The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same period in the prior year, the business earned $2.17 earnings per share. On average, equities 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. Stockholders of record on Monday, August 26th will be given a dividend of $0.70 per share. The ex-dividend date is Monday, August 26th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.08%. 3M’s payout ratio is -22.01%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. HSBC upgraded shares of 3M from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $91.13 to $115.00 in a report on Friday, May 10th. Royal Bank of Canada lifted their target price on shares of 3M from $93.00 to $95.00 and gave the company an “underperform” rating in a research report on Monday, July 29th. Argus upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research report on Tuesday, July 30th. Vertical Research upgraded shares of 3M from a “hold” rating to a “buy” rating and lifted their target price for the company from $92.00 to $140.00 in a research report on Thursday, May 16th. Finally, Citigroup lifted their target price on shares of 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $123.57.

Insider Transactions at 3M

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

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.