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.
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.
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