Integris Wealth Management LLC Has $407,000 Stock Holdings in 3M (NYSE:MMM)

Integris Wealth Management LLC lifted its position in shares of 3M (NYSE:MMM) by 7.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,980 shares of the conglomerate’s stock after purchasing an additional 200 shares during the period. Integris Wealth Management LLC’s holdings in 3M were worth $407,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MMM. Tributary Capital Management LLC acquired a new stake in shares of 3M during the 1st quarter valued at $25,000. Financial Synergies Wealth Advisors Inc. raised its position in 3M by 419.1% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after purchasing an additional 197 shares during the last quarter. MFA Wealth Advisors LLC bought a new position in 3M during the 2nd quarter worth $28,000. Daymark Wealth Partners LLC raised its position in 3M by 8.6% during the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 17,211 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its position in 3M by 689.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 269 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insider Buying and Selling at 3M

In other news, CFO Theresa E. Reinseth sold 2,100 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 4,364 shares of the company’s stock, valued at approximately $541,659.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Chairman Michael F. Roman sold 5,675 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total value of $700,635.50. Following the completion of the transaction, the chairman now directly owns 174,036 shares in the company, valued at approximately $21,486,484.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Theresa E. Reinseth sold 2,100 shares of the company’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 completion of the transaction, the chief financial officer now owns 4,364 shares of the company’s stock, valued at $541,659.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on MMM shares. Morgan Stanley started coverage on 3M in a research report on Friday, September 6th. They set an “underweight” rating and a $125.00 target price for the company. Wells Fargo & Company raised their target price on 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Citigroup raised their target price on 3M from $100.00 to $133.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Royal Bank of Canada lifted their price objective on 3M from $93.00 to $95.00 and gave the stock an “underperform” rating in a research report on Monday, July 29th. Finally, StockNews.com lowered 3M from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $130.57.

3M Stock Performance

3M stock traded down $0.54 during trading on Friday, hitting $135.14. The stock had a trading volume of 2,791,646 shares, compared to its average volume of 4,893,641. The stock’s 50 day moving average is $132.67 and its two-hundred day moving average is $112.59. The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 2.95. 3M has a 1 year low of $71.12 and a 1 year high of $140.72. The stock has a market cap of $74.78 billion, a price-to-earnings ratio of -10.62, a price-to-earnings-growth ratio of 2.49 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. 3M had a net margin of 3.08% and a return on equity of 112.92%. The business had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter in the previous year, the firm posted $2.17 EPS. As a group, analysts predict that 3M will post 7.24 EPS for the current year.

3M Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were issued 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 yield of 2.07%. 3M’s payout ratio is -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.