3M Company (MMM): Keep paying attention to its insider activity

3M Company (NYSE:MMM) saw a downside of -0.43% to close Tuesday at $175.53 after subtracting -$0.75 on the day. The 5-day average trading volume is 2,450,540 shares of the company’s common stock. It has gained $180.78 in the past week. An average of 2,913,420 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,508,530.

MMM’s 1-month performance is -5.24% or -$9.02 on its low of $173.78 reached on 10/04/21. The company’s shares have touched a 52-week low of $156.13 and high of $208.95, with the stock’s rally to the 52-week high happening on 05/10/21. YTD, MMM has achieved 0.42% or $0.74. However, the current price is down -15.99%% from the 52-week high price.


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Insider Transactions

On Aug 11, 63 days have gone by since the last insider trading activity for 3M Company (MMM). Lavers Jeffrey R (Group President) most recently sold 6,025 shares at $200.00 per share on Aug 11. This transaction cost the insider $1,205,000. Executive Vice President, Banovetz John Patrick, sold 3,236 shares at a price of $197.93 on Aug 10. Then, on Aug 09, Group President Ashish Khandpur K sold 6,505 shares at a price of $196.86 per share. This transaction amounted to $1,280,582.

Valuation Metrics

The company’s PE ratio for the last five years has touched a high of 32.66 and a low of 15.09. MMM stock has a beta of 0.97. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.94 while the price-to-book (PB) in the most recent quarter is 7.06, with the price to cash flow ratio at 27.85.

3M Company pays an annual dividend of $5.92 per share. Its dividend yield is 3.37% and the payout ratio is 57.50%. MMM’s most recent quarterly dividend payment was made on Sep. 12, when it paid $1.48 a share compared with prior rate of $1.48, down 0.0% from last year’s. The company has boosted its dividend for the last 59 consecutive years with the latest dividend increase of $0.01 reported on Tuesday February 2 2021. Measured over the last 3 years, the Dividend has been growing by 25.11% yearly.

It is projected that 3M Company’s next ex-dividend date will be on 22-Nov. MMM is expected to distribute $1.48 as its next dividend.

3M Company’s quick ratio for the period ended June 29 was 1.20, with the current ratio over the same period at 1.70 meaning that MMM stock is able to fulfill its debt obligations. As well, the company’s long term debt to equity for the quarter ending June 29 was 1.13, while the total debt to equity was 1.26. In terms of profitability, the gross margin trailing 12 months is 48.50%. The trailing 12-month EBITDA margin is 27.54% while for the period ending June 29; 3M Company’s operating margin was 22.20%. The firm’s gross profit as reported stood at $15.58 billion against revenue of $32.18 billion.

Earnings Surprise

For the quarterly period ending June 29 this year, 3M Company’s cash and short-term investments amounted to $805.0 million against total debt of $19.12 billion. Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected MMM to announce $2.28 per share in earnings in its latest quarter, but it posted $2.59, representing a 13.60% surprise. EBITDA for the quarter stood at more than $2.44 billion. MMM stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 33.79 billion, with total debt at $19.12 billion. Shareholders hold equity totaling $578.64 million

Technical Picture

Let’s look briefly at 3M Company (MMM) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 12 October was 32.12% to suggest the stock is trending Neutral, with historical volatility in this time period at 17.23%.

The stock’s 5-day moving average is $176.99, reflecting a -1.32% or -$2.35 change from its current price. MMM is currently trading -3.78% above its 20-day SMA, -12.95% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by -11.13% and +0.58% respectively.

Stochastic %K and %D was 26.37% and 34.26% and the average true range (ATR) pointed at 2.80. The RSI (14) points at 33.03%, while the 14-day stochastic is at 18.66% with the period’s ATR at 2.88. The stock’s 9-day MACD Oscillator is pointing at -0.52 and -2.05 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for 3M Company (NYSE: MMM), Wells Fargo launched coverage with an Equal weight rating. Analysts offering their rating for MMM stock have a consensus rating for the stock as Hold. Currently, 3 brokerage advisors rate MMM as a “sell,”, while 13 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 1 rates the stock as overweight while 3 have offered a “buy” rating.

What is MMM’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $172.00 and a high of $237.00, with their median price target at $195.00. Looking at these predictions, the average price target given by analysts is for 3M Company (MMM) stock is $197.95.

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