Stocks of 3M Co. (NYSE:MMM) traded higher last session on Wall Street, down -1.59% to $88.79.
MMM stock price is now -13.69% away from the 50-day moving average and -16.66% away from the 200-day moving average. The market capitalization of the company currently stands at $49.01B.
With the price target of $109, HSBC Securities recently initiated with Hold rating for 3M Co. (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 $1.86 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 $0.93 million. Insiders disposed of 54,848 shares of company stock worth roughly $4.87 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 Co. shares was purchased by ALTSHULER SHAHAM LTD during the first quarter worth $82,343,000. PROSTATIS GROUP LLC invested $71,859,000 in shares of MMM during the first quarter. In the first quarter, PINE VALLEY INVESTMENTS LTD LIABILITY CO acquired a new stake in 3M Co. valued at approximately $7,213,000. EASTERLY INVESTMENT PARTNERS LLC acquired a new stake in MMM for approximately $5,867,000. M&G INVESTMENT MANAGEMENT LTD purchased a new stake in MMM valued at around $5,660,000 in the second quarter. In total, there are 2,456 active investors with 66.63% ownership of the company’s stock.
Tuesday’s opening bell rang with an opening price of $89.75 for 3M Co. (NYSE: MMM). During the past 12 months, 3M Co. has had a low of $89.31 and a high of $133.91. As of last week, the company has a debt-to-equity ratio of 2.15, a current ratio of 1.44, and a quick ratio of 0.96. The fifty day moving average price for MMM is $102.56 and a two-hundred day moving average price translates $106.36 for the stock.
The latest earnings results from 3M Co. (NYSE: MMM) was released for Jun, 2023. The net profit margin was -4.43% and return on equity was -13.60% 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.
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 $6.13 dividend and a 6.91% 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 58.56%.
