The stock of 3M Company (NYSE:MMM) last traded at $104.33, up 0.04% from the previous session.
Data from the available sources indicates that 3M Company (NYSE:MMM) is covered by 18 analysts. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $161.00 and a low of $93.00, we find $100.00. Given the previous closing price of $104.29, this indicates a potential downside of -4.11 percent. MMM stock price is now 4.22% away from the 50-day moving average and -6.38% away from the 200-day moving average. The market capitalization of the company currently stands at $57.53B.
In total, 14 analysts have assigned it a hold rating, and 0 have given it a buy rating. Brokers who have rated the stock have averaged $107.53 as their price target over the next twelve months.
With the price target maintained at $110, BofA Securities recently Upgraded its rating from Underperform to Neutral for 3M Company (NYSE: MMM).
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 $2.18 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 $1.09 million. Insiders disposed of 102,247 shares of company stock worth roughly $10.67 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 $109,567,000. TWIN TREE MANAGEMENT, LP invested $14,533,000 in shares of MMM during the first quarter. In the first quarter, HRT FINANCIAL LP acquired a new stake in 3M Company valued at approximately $12,332,000. EMPOWER ADVISORY GROUP, LLC acquired a new stake in MMM for approximately $10,985,000. GODSEY & GIBB, INC purchased a new stake in MMM valued at around $9,149,000 in the second quarter.
With an opening price of $104.17 on Friday morning, 3M Company (NYSE: MMM) set off the trading day. During the past 12 months, 3M Company has had a low of $92.38 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 $70.44B, which is based on a 10.81 price-to-earnings ratio, a 5.84 price-to-earnings-growth ratio, and a beta of 0.95. The fifty day moving average price for MMM is $100.17 and a two-hundred day moving average price translates $111.39 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 5.75% 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.
