3M Company (NYSE:MMM) saw a downside of -0.27% to close Monday at $105.23 after subtracting -$0.28 on the day. The 5-day average trading volume is 2,858,500 shares of the company’s common stock. It has gained $111.92 in the past week and touched a new high 1 time within the past 5 days. An average of 3,730,515 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 4,061,768.
MMM’s 1-month performance is 8.16% or $7.94 on its low of $96.88 reached on 07/10/23. The company’s shares have touched a 52-week low of $92.38 and high of $152.30, with the stock’s rally to the 52-week high happening on 01/17/23. YTD, MMM has lost -12.25% or -$14.69 and has reached a new high 6 times. However, the current price is down -30.91% from the 52-week high price.
Insider Transactions
MMM stock investors last saw insider trading activity on May 18.Ashish Khandpur K (Group President) most recently sold 9,432 shares at $99.27 per share on May 18. This transaction cost the insider $936,306. EVP & Chief Count Gov Svc Off, Hammes Eric D., sold 6,487 shares at a price of $105.33 on Apr 28. Then, on Oct 28, EVP & Chief Legal Officer Rhodes Kevin H sold 5,703 shares at a price of $126.40 per share. This transaction amounted to $720,842.
Valuation Metrics
MMM stock has a beta of 0.97. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.79 while the price-to-book (PB) in the most recent quarter is 7.47, with the price to cash flow ratio at 52.69.
3M Company’s quick ratio for the period ended June 29 was 1.00, with the current ratio over the same period at 1.40. As well, the company’s long term debt to equity for the quarter ending June 29 was 1.66, while the total debt to equity was 2.05. In terms of profitability, the gross margin trailing 12 months is 44.10%. The trailing 12-month EBITDA margin is 17.25% while for the period ending June 29, 3M Company’s operating margin was -8.90%. The firm’s gross profit as reported stood at $15.0 billion against revenue of $34.23 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 101.14% to -$6.84 billion, while revenue of $976.0 million was 114.27% off the previous quarter. Analysts expected MMM to announce $1.72 per share in earnings in its latest quarter, but it posted $2.17, representing a 26.20% surprise. EBITDA for the quarter stood at more than -$8.51 billion. MMM stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 41.02 billion, with total debt at $16.9 billion. Shareholders hold equity totaling $551.99 million.
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 07 August was 43.17% to suggest the stock is trending Neutral, with historical volatility in this time period at 19.84%.
The stock’s 5-day moving average is $107.48, reflecting a -5.62% or -$6.27 change from its current price. MMM is currently trading +8.27% above its 20-day SMA, +2.38% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +8.50% and SMA200 by-9.25%.
Stochastic %K and %D was 37.55% and 51.34% and the average true range (ATR) pointed at 2.24. The RSI (14) points at 49.47%, while the 14-day stochastic is at 25.59% with the period’s ATR at 2.28. The stock’s 9-day MACD Oscillator is pointing at -3.42 and -1.94 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for 3M Company (NYSE: MMM), BofA Securities upgraded it to a Neutral rating. They previously had an Underperform rating on the stock. Analysts offering their rating for MMM stock have a consensus rating for the stock as Hold. Currently, 4 brokerage advisors rate MMM as a “sell,”, while 15 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 0 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 $96.00 and a high of $161.00, with their median price target at $115.00. Looking at these predictions, the average price target given by analysts is for 3M Company (MMM) stock is $115.09.
