The price of 3M Company (NYSE:MMM) shares last traded on Wall Street rose 1.39% to $105.57.
Based on available information, 19 analysts follow 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 $161.00 and a low of $96.00, we find $115.00. Given the previous closing price of $104.12, this indicates a potential upside of 10.45 percent. MMM stock price is now 2.63% away from the 50-day moving average and -3.77% away from the 200-day moving average. The market capitalization of the company currently stands at $58.01B.
Among analysts, 16 rate the stock a hold while 0 rate it a buy. Brokers who have rated the stock have averaged $115.83 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 $2.21 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 $1.1 million. Insiders disposed of 56,126 shares of company stock worth roughly $5.93 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 $97,905,000. PROSTATIS GROUP LLC invested $85,439,000 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 $20,058,000. PINE VALLEY INVESTMENTS LTD LIABILITY CO acquired a new stake in MMM for approximately $8,576,000. EASTERLY INVESTMENT PARTNERS LLC purchased a new stake in MMM valued at around $6,975,000 in the second quarter. In total, there are 2,456 active investors with 68.10% ownership of the company’s stock.
A candlestick chart of 3M Company (NYSE: MMM) showed a price of $104.99 on Tuesday morning. During the past 12 months, 3M Company has had a low of $92.38 and a high of $133.91. 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 $102.88 and a two-hundred day moving average price translates $109.62 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 5.68% 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.
