Integris Wealth Management LLC Purchases 200 Shares of 3M (NYSE:MMM)

Integris Wealth Management LLC lifted its position in shares of 3M (NYSE:MMM) by 7.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,980 shares of the conglomerate’s stock after acquiring an additional 200 shares during the quarter. Integris Wealth Management LLC’s holdings in 3M were worth $407,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in MMM. Capital World Investors bought a new stake in shares of 3M during the first quarter worth $165,986,000. National Bank of Canada FI increased its holdings in 3M by 218.3% in the first quarter. National Bank of Canada FI now owns 1,489,351 shares of the conglomerate’s stock valued at $147,344,000 after purchasing an additional 1,021,440 shares during the last quarter. Janus Henderson Group PLC increased its holdings in 3M by 1,015.6% in the first quarter. Janus Henderson Group PLC now owns 888,564 shares of the conglomerate’s stock valued at $94,247,000 after purchasing an additional 808,914 shares during the last quarter. Electron Capital Partners LLC bought a new stake in 3M in the second quarter valued at about $76,732,000. Finally, Bank of New York Mellon Corp increased its holdings in 3M by 11.8% in the second quarter. Bank of New York Mellon Corp now owns 5,065,242 shares of the conglomerate’s stock valued at $517,617,000 after purchasing an additional 533,520 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft upgraded 3M from a “hold” rating to a “buy” rating and upped their price objective for the company from $110.00 to $150.00 in a report on Monday, July 29th. Bank of America upped 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. Citigroup upped their price objective on 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Morgan Stanley started coverage on 3M in a research note on Friday, September 6th. They issued an “underweight” rating and a $125.00 target price for the company. Finally, Barclays boosted their target price on 3M from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, 3M presently has a consensus rating of “Hold” and an average price target of $130.57.

Insider Transactions at 3M

In other 3M news, Chairman Michael F. Roman sold 5,675 shares of the firm’s stock in a transaction 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 transaction, the chairman now owns 174,036 shares in the company, valued at $21,486,484.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other 3M news, CFO Theresa E. Reinseth sold 2,100 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total transaction of $260,652.00. Following the transaction, the chief financial officer now owns 4,364 shares in the company, valued at $541,659.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Michael F. Roman sold 5,675 shares of the firm’s 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 owns 174,036 shares in the company, valued at approximately $21,486,484.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

3M Stock Down 0.4 %

Shares of MMM stock traded down $0.54 on Friday, hitting $135.14. 2,791,646 shares of the stock were exchanged, compared to its average volume of 4,893,641. The business has a 50-day moving average of $132.67 and a 200 day moving average of $112.59. 3M has a fifty-two week low of $71.12 and a fifty-two week high of $140.72. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 2.95. The firm has a market capitalization of $74.78 billion, a P/E ratio of -10.62, a price-to-earnings-growth ratio of 2.49 and a beta of 0.95.

3M (NYSE:MMM) last released its quarterly earnings data on Friday, July 26th. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.25. The firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.85 billion. 3M had a return on equity of 112.92% and a net margin of 3.08%. During the same quarter in the prior year, the company earned $2.17 earnings per share. Equities analysts anticipate that 3M will post 7.24 EPS for the current year.

3M Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.07%. 3M’s dividend payout ratio (DPR) is currently -22.01%.

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.