B. Riley Wealth Advisors Inc. Has $4.47 Million Stock Holdings in 3M (NYSE:MMM)

B. Riley Wealth Advisors Inc. lifted its position in shares of 3M (NYSE:MMM) by 11.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,168 shares of the conglomerate’s stock after buying an additional 4,370 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in 3M were worth $4,473,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Tributary Capital Management LLC acquired a new position in 3M during the first quarter worth $25,000. Financial Synergies Wealth Advisors Inc. raised its holdings in shares of 3M by 419.1% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock valued at $26,000 after purchasing an additional 197 shares during the period. Northwest Investment Counselors LLC acquired a new stake in 3M in the 1st quarter valued at about $32,000. Livelsberger Financial Advisory bought a new stake in shares of 3M during the 4th quarter worth about $35,000. Finally, Cape Investment Advisory Inc. raised its holdings in 3M by 42.8% in the 4th quarter. Cape Investment Advisory Inc. now owns 387 shares of the conglomerate’s stock valued at $42,000 after acquiring an additional 116 shares during the period. Institutional investors own 65.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. UBS Group increased their target price on 3M from $98.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Argus raised shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research report on Tuesday. Vertical Research raised shares of 3M from a “hold” rating to a “buy” rating and increased their target price for the stock from $92.00 to $140.00 in a report on Thursday, May 16th. Wolfe Research raised shares of 3M from a “peer perform” rating to an “outperform” rating and set a $125.00 price target on the stock in a report on Thursday, June 13th. Finally, Deutsche Bank Aktiengesellschaft raised shares of 3M from a “hold” rating to a “buy” rating and increased their price objective for the company from $110.00 to $150.00 in a research note on Monday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $123.57.

3M Trading Up 0.6 %

Shares of NYSE:MMM traded up $0.80 during trading on Wednesday, reaching $127.55. The stock had a trading volume of 6,882,554 shares, compared to its average volume of 5,470,744. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.08 and a current ratio of 1.36. The stock has a market cap of $70.07 billion, a price-to-earnings ratio of -9.96, a P/E/G ratio of 2.32 and a beta of 0.95. The firm’s fifty day moving average is $102.92 and its 200 day moving average is $98.94. 3M has a 52 week low of $71.12 and a 52 week high of $128.65.

3M (NYSE:MMM) last announced its quarterly earnings data 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 return on equity of 112.92% and a net margin of 3.08%. The company had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $5.85 billion. During the same period in the previous year, the business earned $2.17 EPS. As a group, equities analysts forecast that 3M will post 7.19 EPS for the current fiscal year.

3M Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 24th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend was Thursday, May 23rd. 3M’s dividend payout ratio is presently -22.01%.

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.