What Technical Indicators Show About 3M Company (MMM)?


3M Company (NYSE:MMM) finished Wednesday with a subtraction of -$1.71 to close at $114.81, a downside of -1.47 percent. An average of 4,479,160 shares of common stock have been traded in the last five days. There was a fall of -$2.72 in the past week, and it reached a new high 8 times over the past 12 months. The last 20 days have seen an average of 21,811,305 shares traded, while the 50-day average volume stands at 11,379,356.

MMM stock has decreased by -18.91% in the last month. The company shares reached their 1-month lowest point of $114.11 on 09/16/22. With the stock rallying to its 52-week high on 01/05/22, shares of the company touched a low of $114.11 and a high of $186.30 in 52 weeks. It has reached a new high 3 times so far this year and lost -35.37% or -$62.82 in price. In spite of this, the price is down -38.37% from the 52-week high.

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Insider Transactions

36 days have passed since 3M Company (MMM) last reported insider trading activity. Hammes Eric D., who is EVP & Chief Count Gov Svc Off, most recently acquired $3,145 shares at $147.31 per share on Aug 17. In this transaction, the insider spent $463,294. Executive Vice President, Banovetz John Patrick, disposed of 3,145 shares at a price of $150.32 on Aug 10. The insider now owns more than $472,764 worth of shares. Prior to that, EVP & Chief HR Officer Dickson Zoe L went on to Sale 2,265 shares at $144.40 each on Aug 04. An amount of $327,070 was transacted.

Valuation Metrics

3M Company (MMM) has a trailing price-to-earnings (P/E) ratio of 16.06. The stock’s beta is 1.00. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.86, the price-to-book (PB) ratio at 4.77, and the price-to-cash flow ratio at 72.06.

The company has a payout ratio of 82.40%. The company’s most recent quarterly dividend payment was $1.49 a share, without any change from last year. Its latest increase dividend $0.01 reported on Tuesday February 8 2022.

Financial Health

The quick ratio of 3M Company for the three months ended June 29 was 0.90, and the current ratio was 1.50, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.02 and a total debt to equity ratio of 1.18 for the quarter ending June 29. Its gross profit as reported stood at $16.56 billion compared to revenue of $35.35 billion.

Earnings Surprise

For the three-month period that ended June 29, 3M Company had $14.02 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $78.0 million in the quarter, while revenues of $1.3 billion were shrunk -1853.85%. The analyst consensus anticipated 3M Company’s latest quarter earnings to come in at $2.42 per share, but it turned out to be $2.48, a 2.50% surprise. For the quarter, EBITDA amounted to $572.0 million. Shareholders own equity worth $569.6 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at 3M Company (MMM) price momentum. RSI 9-day as of the close on 21 September was 26.09%, suggesting the stock is oversold, with historical volatility in this time frame at 27.79%.

As of today, MMM’s price is $116.20 -2.31% or -$2.72 from its 5-day moving average. MMM is currently trading -19.01% lower than its 20-day SMA and -21.97% lower than its 100-day SMA. However, the stock’s current price level is -11.82% below the SMA50 and -33.48% below the SMA200.

The stochastic %K and %D were 14.54% and 15.09%, respectively, and the average true range (ATR) was 3.48. With the 14-day stochastic at 5.64% and the average true range at 3.55, the RSI (14) stands at 28.94%. The stock has reached -2.49 on the 9-day MACD Oscillator while the 14-day reading was at -3.30.

Analyst Ratings

UBS upgraded 3M Company (NYSE: MMM) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as a Sell. The consensus rating for 3M Company (MMM) among analysts is Hold. According to current brokerage recommendations, 4 brokerage firms advise that investors sell MMM, while 15 suggest investors hold. There are 2 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 1 others rate it as a “buy”.

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

Analysts predict a range of price targets between $120.00 and $210.00, with a median target of $140.00. Taking a look at these predictions, the average price target given by analysts for 3M Company (MMM) stock is $142.37.


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