3M Company (NYSE:MMM) Shares Sold by Kintegral Advisory LLC

Kintegral Advisory LLC trimmed its position in shares of 3M Company (NYSE:MMM) by 32.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,961 shares of the conglomerate’s stock after selling 9,301 shares during the quarter. Kintegral Advisory LLC’s holdings in 3M were worth $2,785,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MMM. Catalyst Capital Advisors LLC increased its position in 3M by 45.2% during the 1st quarter. Catalyst Capital Advisors LLC now owns 527 shares of the conglomerate’s stock worth $77,000 after purchasing an additional 164 shares during the period. IFM Investors Pty Ltd grew its holdings in 3M by 9.4% during the first quarter. IFM Investors Pty Ltd now owns 113,557 shares of the conglomerate’s stock worth $15,523,000 after acquiring an additional 9,731 shares during the period. Avantax Planning Partners Inc. grew its stake in shares of 3M by 4.5% during the 1st quarter. Avantax Planning Partners Inc. now owns 9,020 shares of the conglomerate’s stock worth $1,325,000 after purchasing an additional 391 shares during the period. Silver Oak Securities Incorporated grew its position in 3M by 30.5% during the first quarter. Silver Oak Securities Incorporated now owns 3,951 shares of the conglomerate’s stock worth $572,000 after buying an additional 923 shares during the period. Finally, MBA Advisors LLC increased its holdings in 3M by 3.7% in the first quarter. MBA Advisors LLC now owns 2,700 shares of the conglomerate’s stock valued at $396,000 after buying an additional 97 shares in the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

3M Trading Down 1.1%

NYSE MMM opened at $152.23 on Friday. The company has a market cap of $81.92 billion, a P/E ratio of 19.22, a P/E/G ratio of 3.01 and a beta of 1.02. 3M Company has a 12 month low of $98.26 and a 12 month high of $156.35. The company has a debt-to-equity ratio of 2.72, a current ratio of 1.66 and a quick ratio of 1.25. The company has a 50-day moving average of $146.33 and a 200-day moving average of $143.41.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, topping the consensus estimate of $1.77 by $0.11. The firm had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.78 billion. 3M had a net margin of 17.79% and a return on equity of 96.19%. As a group, equities analysts predict that 3M Company will post 7.8 earnings per share for the current year.

3M Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were given a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.92%. 3M’s dividend payout ratio (DPR) is currently 36.87%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MMM. Citigroup raised their price objective on 3M from $141.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, May 30th. Royal Bank Of Canada upped their price target on shares of 3M from $98.00 to $100.00 and gave the company an “underperform” rating in a report on Wednesday, April 23rd. Bank of America raised their price objective on shares of 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Wells Fargo & Company lifted their price objective on 3M from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Barclays upped their target price on 3M from $160.00 to $164.00 and gave the company an “overweight” rating in a research note on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, 3M currently has an average rating of “Moderate Buy” and an average target price of $155.83.

Insider Buying and Selling at 3M

In other 3M news, EVP John Patrick Banovetz sold 7,759 shares of the business’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $148.37, for a total transaction of $1,151,202.83. Following the completion of the sale, the executive vice president owned 31,372 shares of the company’s stock, valued at approximately $4,654,663.64. The trade was a 19.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Zoe L. Dickson sold 7,915 shares of the company’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $149.02, for a total value of $1,179,493.30. Following the sale, the executive vice president owned 6,127 shares of the company’s stock, valued at $913,045.54. This represents a 56.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

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.