Kintegral Advisory LLC Sells 9,301 Shares of 3M Company (NYSE:MMM)

Kintegral Advisory LLC trimmed its position in 3M Company (NYSE:MMM - Free Report) by 32.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,961 shares of the conglomerate's stock after selling 9,301 shares during the period. Kintegral Advisory LLC's holdings in 3M were worth $2,785,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. REAP Financial Group LLC boosted its position 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. Curat Global LLC bought a new stake in shares of 3M during the first quarter worth approximately $29,000. Hazlett Burt & Watson Inc. acquired a new position in 3M in the 4th quarter valued at $27,000. Pinney & Scofield Inc. acquired a new position in shares of 3M in the fourth quarter valued at about $28,000. Finally, Intelligent Financial Strategies bought a new position in shares of 3M during the first quarter worth approximately $42,000. Institutional investors own 65.25% of the company's stock.

3M Stock Down 1.1%

NYSE MMM traded down $1.75 during mid-day trading on Friday, hitting $152.23. The company's stock had a trading volume of 3,182,854 shares, compared to its average volume of 3,804,709. The company has a current ratio of 1.66, a quick ratio of 1.25 and a debt-to-equity ratio of 2.72. The company's 50 day simple moving average is $146.33 and its 200 day simple moving average is $143.41. 3M Company has a twelve month low of $98.26 and a twelve month high of $156.35. The firm has a market capitalization of $81.92 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 2.99 and a beta of 1.02.

3M (NYSE:MMM - Get Free Report) last posted its 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. 3M had a net margin of 17.79% and a return on equity of 96.19%. The company had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.78 billion. Analysts anticipate that 3M Company will post 7.8 earnings per share for the current year.

3M Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on MMM shares. Royal Bank Of Canada raised their price target on 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 23rd. Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a report on Friday, June 27th. Citigroup lifted their target price on shares of 3M from $141.00 to $160.00 and gave the stock a "neutral" rating in a research report on Friday, May 30th. JPMorgan Chase & Co. upped their price target on 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Finally, Bank of America increased their price objective on shares of 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, 3M presently has an average rating of "Moderate Buy" and a consensus target price of $155.83.

Insider Buying and Selling at 3M

In other 3M news, EVP Zoe L. Dickson sold 7,915 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $149.02, for a total value of $1,179,493.30. Following the completion of the sale, the executive vice president directly owned 6,127 shares of the company's stock, valued at approximately $913,045.54. This represents a 56.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP John Patrick Banovetz sold 7,759 shares of the stock in a transaction dated Friday, May 23rd. The shares were 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. This trade represents a 19.83% decrease in their position. The disclosure for this sale can be found here. Corporate 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.