In yesterday’s Wall Street session, 3M Company (NYSE:MMM) shares traded at $99.03, down -0.61% from the previous session.
As of this writing, 19 analysts cover 3M Company (NYSE:MMM). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $158.00 and a low of $95.00, we find $110.00. Given the previous closing price of $99.64, this indicates a potential upside of 10.4 percent. MMM stock price is now -4.03% away from the 50-day moving average and -15.87% away from the 200-day moving average. The market capitalization of the company currently stands at $54.97B.
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There are 13 analysts who have given it a hold rating, whereas 0 have given it a buy rating. Brokers who have rated the stock have averaged $112.18 as their price target over the next twelve months.
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In other news, Ashish Khandpur K, Group President sold 9,432 shares of the company’s stock on May 18. The stock was sold for $936,306 at an average price of $99.27. Upon completion of the transaction, the Group President now directly owns 20,943 shares in the company, valued at $2.07 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 28, EVP & Chief Count Gov Svc Off Hammes Eric D. sold 6,487 shares of the business’s stock. A total of $683,243 was realized by selling the stock at an average price of $105.33. This leaves the insider owning 10,430 shares of the company worth $1.03 million. Insiders disposed of 89,122 shares of company stock worth roughly $8.83 million over the past 1 year. A total of 0.12% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in MMM stock. A new stake in 3M Company shares was purchased by RENAISSANCE TECHNOLOGIES LLC during the first quarter worth $104,001,000. FARMER STEVEN PATRICK invested $43,523,000 in shares of MMM during the first quarter. In the first quarter, TWIN TREE MANAGEMENT, LP acquired a new stake in 3M Company valued at approximately $13,794,000. HRT FINANCIAL LP acquired a new stake in MMM for approximately $11,705,000. GODSEY & GIBB, INC purchased a new stake in MMM valued at around $8,684,000 in the second quarter. In total, there are 2,558 active investors with 68.10% ownership of the company’s stock.
Friday morning saw 3M Company (NYSE: MMM) opened at $100.25. During the past 12 months, 3M Company has had a low of $98.00 and a high of $152.30. As of last week, the company has a debt-to-equity ratio of 1.04, a current ratio of 1.40, and a quick ratio of 0.90. According to the stock market information, the enterprise value for the company is $69.34B, which is based on a 10.26 price-to-earnings ratio, a 6.24 price-to-earnings-growth ratio, and a beta of 0.95. The fifty day moving average price for MMM is $103.06 and a two-hundred day moving average price translates $117.49 for the stock.
The latest earnings results from 3M Company (NYSE: MMM) was released for Mar, 2023. The net profit margin was 16.30% and return on equity was 37.70% for MMM. The company reported revenue of $8.03 billion for the quarter, compared to $8.83 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -9.04 percent.
Moreover, the firm recently paid out its quarterly dividend on 06/12/2023. Investors who held shares on 05/19/2023 were paid a $1.50 dividend. On an annualized basis, this represents a $6.00 dividend and a 6.06% percent yield. There was an ex-dividend date of 05/18/2023 for this dividend. In terms of dividend payout ratio, MMM is presently at 61.80%.
3M Company(MMM) Company Profile
3M Company provides diversified technology services in the United States and internationally. The company operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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. The Transportation and Electronics segment provides ceramic solutions; attachment tapes, films, sound, and temperature management for transportation vehicles; premium large format graphic films for advertising and fleet signage; light management films and electronics assembly solutions; packaging and interconnection solutions; and reflective signage for highway, and vehicle safety. The Healthcare segment offers health care procedure coding and reimbursement software; skin, wound care, and infection prevention products and solutions; dentistry and orthodontia solutions; and filtration and purification systems. The Consumer segment provides consumer bandages, braces, supports, and consumer respirators; cleaning products for the home; retail abrasives, paint accessories, car care DIY products, picture hanging, and consumer air quality solutions; and stationery products. It offers its products through e-commerce and traditional wholesalers, retailers, jobbers, distributors, and dealers. 3M Company was founded in 1902 and is headquartered in St. Paul, Minnesota.
