The stock of 3M Company (NYSE:MMM) last traded at $101.80, up 1.00% from the previous session.
Data from the available sources indicates that 3M Company (NYSE:MMM) is covered by 19 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 $96.00, we find $115.00. Given the previous closing price of $100.79, this indicates a potential upside of 14.1 percent. MMM stock price is now -1.21% away from the 50-day moving average and -8.04% away from the 200-day moving average. The market capitalization of the company currently stands at $55.84B.
In total, 15 analysts have assigned it a hold rating, and 0 have given it a buy rating. Brokers who have rated the stock have averaged $115.09 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 $2.13 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 $1.06 million. Insiders disposed of 56,126 shares of company stock worth roughly $5.71 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 ALTSHULER SHAHAM LTD during the first quarter worth $94,409,000. PROSTATIS GROUP LLC invested $82,388,000 in shares of MMM during the first quarter. In the first quarter, PORTSIDE WEALTH GROUP, LLC acquired a new stake in 3M Company valued at approximately $19,341,000. PINE VALLEY INVESTMENTS LTD LIABILITY CO acquired a new stake in MMM for approximately $8,270,000. EASTERLY INVESTMENT PARTNERS LLC purchased a new stake in MMM valued at around $6,726,000 in the second quarter. In total, there are 2,456 active investors with 68.10% ownership of the company’s stock.
With an opening price of $101.23 on Thursday 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 $148.79. As of last week, the company has a debt-to-equity ratio of 2.05, a current ratio of 1.40, and a quick ratio of 1.00. The fifty day moving average price for MMM is $103.11 and a two-hundred day moving average price translates $110.57 for the stock.
The latest earnings results from 3M Company (NYSE: MMM) was released for Jun, 2023. According to the Conglomerates Company, earnings per share came in at $2.17, beating analysts’ expectations of $1.72 by 0.45. This compares to $0.14 EPS in the same period last year. The net profit margin was -4.40% and return on equity was -11.30% for MMM. The company reported revenue of $8.32 billion for the quarter, compared to $8.7 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -4.33 percent. For the current quarter, analysts expect MMM to generate $8.06B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/12/2023. Investors who held shares on 08/21/2023 were paid a $1.50 dividend. On an annualized basis, this represents a $6.00 dividend and a 5.89% percent yield. There was an ex-dividend date of 08/18/2023 for this dividend. In terms of dividend payout ratio, MMM is presently at 58.32%.
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.
