Integrity Alliance LLC. Purchases 4,875 Shares of 3M Company $MMM

Key Points

• Integrity Alliance LLC increased its holdings in 3M Company by 70.4% in the first quarter, now owning a total of 11,796 shares valued at approximately $1.73 million.
• Several hedge funds, including Invesco and UBS, modified their stakes in 3M during the same period, with institutional investors now owning 65.25% of the company’s stock.
• 3M reported earnings of $2.16 per share for the last quarter, surpassing analyst expectations, with revenues reaching $6.16 billion and an anticipated fiscal year EPS of 7.8.

Integrity Alliance LLC. boosted its holdings in shares of 3M Company (NYSE:MMM - Free Report) by 70.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,796 shares of the conglomerate's stock after purchasing an additional 4,875 shares during the period. Integrity Alliance LLC.'s holdings in 3M were worth $1,732,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. REAP Financial Group LLC lifted its stake in 3M by 88.7% during the fourth quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate's stock valued at $26,000 after purchasing an additional 94 shares during the last quarter. Pinney & Scofield Inc. acquired a new stake in shares of 3M during the fourth quarter valued at approximately $28,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of 3M during the first quarter valued at approximately $28,000. WPG Advisers LLC acquired a new stake in shares of 3M during the first quarter valued at approximately $28,000. Finally, Curat Global LLC acquired a new stake in shares of 3M during the first quarter valued at approximately $29,000. 65.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on MMM. Barclays set a $170.00 price target on shares of 3M in a report on Friday, July 18th. Citigroup boosted their price target on shares of 3M from $141.00 to $160.00 and gave the company a "neutral" rating in a report on Friday, May 30th. JPMorgan Chase & Co. set a $167.00 price objective on shares of 3M in a research note on Friday, July 18th. Wells Fargo & Company reiterated an "overweight" rating on shares of 3M in a research note on Friday, July 18th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a research note on Saturday. Seven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $161.78.

Insider Transactions at 3M

In other news, CAO Theresa E. Reinseth sold 3,477 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $150.63, for a total transaction of $523,740.51. Following the completion of the transaction, the chief accounting officer directly owned 2,561 shares of the company's stock, valued at approximately $385,763.43. This trade represents a 57.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christian T. Goralski, Jr. sold 6,165 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $150.18, for a total transaction of $925,859.70. Following the transaction, the insider directly owned 2,900 shares of the company's stock, valued at $435,522. The trade was a 68.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.

3M Stock Performance

NYSE MMM traded down $1.75 during midday trading on Tuesday, hitting $154.92. The company had a trading volume of 718,079 shares, compared to its average volume of 3,721,364. The company has a quick ratio of 1.20, a current ratio of 1.72 and a debt-to-equity ratio of 2.87. The stock has a market cap of $82.51 billion, a price-to-earnings ratio of 21.58, a P/E/G ratio of 2.87 and a beta of 1.04. The firm has a fifty day simple moving average of $154.15 and a two-hundred day simple moving average of $147.96. 3M Company has a fifty-two week low of $121.98 and a fifty-two week high of $164.15.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The conglomerate reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.15. The company had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.09 billion. 3M had a net margin of 16.01% and a return on equity of 96.48%. The business's quarterly revenue was up 1.4% on a year-over-year basis. During the same period last year, the business posted $1.93 EPS. Equities analysts forecast that 3M Company will post 7.8 earnings per share for the current fiscal year.

3M Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Monday, August 25th were issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, August 25th. 3M's dividend payout ratio (DPR) is presently 40.61%.

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.