In yesterday’s Wall Street session, 3M Co. (NYSE:MMM) shares traded at $104.19, up 1.59% from the previous session.
As of this writing, 19 analysts cover 3M Co. (NYSE:MMM). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $122.00 and a low of $83.00, we find $108.00. Given the previous closing price of $102.56, this indicates a potential upside of 5.3 percent. MMM stock price is now 11.45% away from the 50-day moving average and 3.94% away from the 200-day moving average. The market capitalization of the company currently stands at $57.55B.
There are 15 analysts who have given it a hold rating, whereas 1 have given it a buy rating. Brokers who have rated the stock have averaged $107.56 as their price target over the next twelve months.
With the price target enhanced from $98 to $107, Barclays Upgraded its rating from Underweight to Equal Weight 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 $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 47,620 shares of company stock worth roughly $4.96 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
Wednesday morning saw 3M Co. (NYSE: MMM) opened at $102.00. During the past 12 months, 3M Co. has had a low of $85.35 and a high of $130.02. As of last week, the company has a debt-to-equity ratio of 3.60, a current ratio of 1.05, and a quick ratio of 0.72. The fifty day moving average price for MMM is $93.49 and a two-hundred day moving average price translates $100.24 for the stock.
The latest earnings results from 3M Co. (NYSE: MMM) was released for Sep, 2023. The net profit margin was -22.59% and return on equity was -78.91% for MMM. The company reported revenue of $8.31 billion for the quarter, compared to $8.62 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -3.56 percent.
3M Co.(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.
