Dupree Financial Group LLC Purchases 103 Shares of 3M (NYSE:MMM)

Dupree Financial Group LLC lifted its position in shares of 3M (NYSE:MMM) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,791 shares of the conglomerate’s stock after purchasing an additional 103 shares during the period. 3M accounts for approximately 1.6% of Dupree Financial Group LLC’s investment portfolio, making the stock its 23rd biggest holding. Dupree Financial Group LLC’s holdings in 3M were worth $3,588,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Childress Capital Advisors LLC lifted its stake in 3M by 5.1% during the 4th quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate’s stock valued at $203,000 after acquiring an additional 76 shares in the last quarter. GEN Financial Management INC. purchased a new position in 3M in the 4th quarter valued at approximately $373,000. Hodges Capital Management Inc. grew its holdings in 3M by 97.9% during the 4th quarter. Hodges Capital Management Inc. now owns 34,853 shares of the conglomerate’s stock valued at $4,499,000 after buying an additional 17,239 shares in the last quarter. Financial Life Planners purchased a new position in shares of 3M during the 4th quarter valued at $25,000. Finally, Catalina Capital Group LLC increased its position in shares of 3M by 12.5% in the fourth quarter. Catalina Capital Group LLC now owns 2,057 shares of the conglomerate’s stock worth $266,000 after purchasing an additional 229 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Stock Down 1.4 %

Shares of NYSE MMM opened at $150.13 on Tuesday. 3M has a one year low of $75.40 and a one year high of $155.00. The business’s fifty day moving average price is $135.21 and its 200-day moving average price is $131.26. The stock has a market capitalization of $81.76 billion, a PE ratio of 19.89, a P/E/G ratio of 3.37 and a beta of 0.96. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08.

3M (NYSE:MMM) last released its quarterly 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. 3M had a return on equity of 100.77% and a net margin of 15.71%. The business had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter last year, the business posted $2.42 earnings per share. The company’s revenue for the quarter was down 25.0% on a year-over-year basis. On average, equities research analysts anticipate that 3M will post 7.8 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and increased their target price for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. Royal Bank of Canada reiterated an “underperform” rating and set a $96.00 price target on shares of 3M in a report on Wednesday, January 22nd. Melius Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a report on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their price objective 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. Finally, Mizuho increased their price target on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $148.87.

Insider Buying and Selling

In other 3M news, insider Christian T. Goralski, Jr. sold 6,318 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $149.43, for a total transaction of $944,098.74. Following the transaction, the insider now directly owns 5,024 shares in the company, valued at $750,736.32. This trade represents a 55.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Theresa E. Reinseth sold 2,309 shares of 3M stock in a transaction on Friday, January 24th. The shares were sold at an average price of $149.95, for a total value of $346,234.55. Following the completion of the transaction, the chief accounting officer now owns 4,417 shares in the company, valued at $662,329.15. This represents a 34.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,639 shares of company stock worth $17,163,446 in the last three months. Insiders own 0.38% of the company’s stock.

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.