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

Kintegral Advisory LLC trimmed its stake in shares of 3M (NYSE:MMM) by 4.5% during the fourth quarter, HoldingsChannel reports. The fund owned 28,262 shares of the conglomerate’s stock after selling 1,317 shares during the quarter. Kintegral Advisory LLC’s holdings in 3M were worth $3,648,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Winebrenner Capital Management LLC bought a new stake in shares of 3M during the 4th quarter worth about $516,000. Deseret Mutual Benefit Administrators grew its position in 3M by 5.9% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 9,475 shares of the conglomerate’s stock valued at $1,223,000 after purchasing an additional 529 shares in the last quarter. Drum Hill Capital LLC purchased a new stake in shares of 3M during the 4th quarter worth about $217,000. Paradigm Asset Management Co. LLC bought a new position in shares of 3M during the 4th quarter valued at $749,000. Finally, Cassaday & Co Wealth Management LLC boosted its stake in shares of 3M by 3.8% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 4,992 shares of the conglomerate’s stock worth $644,000 after acquiring an additional 185 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MMM shares. Weiss Ratings reissued a “hold (c)” rating on shares of 3M in a report on Wednesday. Barclays increased their price objective on 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $140.00 to $170.00 in a report on Wednesday, January 22nd. Bank of America increased their target price on 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. raised their target price on shares of 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $148.87.

Insiders Place Their Bets

In other news, insider Christian T. Goralski, Jr. sold 6,318 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $149.43, for a total transaction of $944,098.74. Following the sale, the insider now owns 5,024 shares of the company’s stock, valued at $750,736.32. This trade represents a 55.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Victoria Clarke sold 1,750 shares of 3M stock in a transaction on Friday, January 31st. The stock was sold at an average price of $154.22, for a total value of $269,885.00. Following the completion of the sale, the executive vice president now directly owns 194 shares of the company’s stock, valued at $29,918.68. The trade was a 90.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,639 shares of company stock worth $17,163,446. 0.34% of the stock is owned by corporate insiders.

3M Stock Performance

NYSE MMM opened at $144.87 on Friday. The firm has a market cap of $78.65 billion, a P/E ratio of 19.19, a price-to-earnings-growth ratio of 3.30 and a beta of 0.96. The company’s 50 day moving average is $140.62 and its 200-day moving average is $134.56. 3M has a 12-month low of $75.40 and a 12-month high of $155.00. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86.

3M (NYSE:MMM) last announced its earnings results 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 business had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. 3M’s quarterly revenue was down 25.0% on a year-over-year basis. During the same period last year, the firm posted $2.42 earnings per share. Sell-side analysts predict that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be issued a $0.73 dividend. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a yield of 2.02%. 3M’s dividend payout ratio (DPR) is 38.68%.

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.