B. Riley Wealth Advisors Inc. Sells 2,864 Shares of 3M (NYSE:MMM)

B. Riley Wealth Advisors Inc. reduced its stake in 3M (NYSE:MMM - Free Report) by 8.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,012 shares of the conglomerate's stock after selling 2,864 shares during the quarter. B. Riley Wealth Advisors Inc.'s holdings in 3M were worth $4,003,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of MMM. Secure Asset Management LLC bought a new stake in shares of 3M during the fourth quarter worth approximately $212,000. Brighton Jones LLC grew its holdings in shares of 3M by 26.6% during the 4th quarter. Brighton Jones LLC now owns 8,898 shares of the conglomerate's stock valued at $1,149,000 after purchasing an additional 1,872 shares during the last quarter. CX Institutional boosted its holdings in shares of 3M by 3.0% during the 4th quarter. CX Institutional now owns 3,621 shares of the conglomerate's stock valued at $467,000 after acquiring an additional 104 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its position in 3M by 24.4% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,304 shares of the conglomerate's stock worth $168,000 after buying an additional 256 shares during the period. Finally, Grimes & Company Inc. grew its stake in shares of 3M by 1.4% in the fourth quarter. Grimes & Company Inc. now owns 9,148 shares of the conglomerate's stock worth $1,181,000 after purchasing an additional 125 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MMM shares. Barclays lifted their price target on shares of 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. lifted their price objective on 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Citigroup decreased their price target on shares of 3M from $152.00 to $142.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Bank of America lifted their price target 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. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a research report on Saturday, May 24th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $152.08.

Insider Buying and Selling at 3M

In related news, EVP Zoe L. Dickson sold 7,915 shares of the firm'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 transaction, the executive vice president now owns 6,127 shares in the company, valued at $913,045.54. This trade represents a 56.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Patrick Banovetz sold 7,759 shares of the business's stock in a transaction that occurred on 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 transaction, the executive vice president now owns 31,372 shares of the company's stock, valued at approximately $4,654,663.64. This represents a 19.83% decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

3M Stock Performance

Shares of NYSE MMM traded up $1.02 during midday trading on Thursday, reaching $149.68. 2,621,422 shares of the company were exchanged, compared to its average volume of 3,965,009. 3M has a 1 year low of $96.76 and a 1 year high of $156.35. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The stock has a fifty day simple moving average of $141.51 and a 200 day simple moving average of $140.45. The stock has a market cap of $80.55 billion, a P/E ratio of 19.83, a PEG ratio of 3.30 and a beta of 1.02.

3M (NYSE:MMM - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, beating analysts' consensus estimates of $1.77 by $0.11. 3M had a return on equity of 100.77% and a net margin of 15.71%. The firm had revenue of $5.80 billion for the quarter, compared to analysts' expectations of $5.78 billion. On average, research analysts forecast that 3M will post 7.8 earnings per share for the current fiscal year.

3M Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.95%. 3M's dividend payout ratio (DPR) is 36.87%.

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.