The stock of 3M Company (NYSE:MMM) decreased by -$2.28 on Tuesday to finish at $101.14, down -2.20 percent. The last five days have seen an average of 2,475,120 shares of common stock traded. 6 times new highs were reached in the current year, with a fall of -$18.78. The average number of shares traded over the last 20 days was 3,525,550, while the average volume over the last 50 days totaled 3,718,298.
MMM stock dropped -0.55% since last month. On 07/17/23, the company’s shares reached a one-month low of $100.80. The stock touched a high of $152.10 on 01/17/23, after rallying from a low of $92.38 in 52 weeks. The price of MMM stock has declined by -15.66% or -$18.78 this year, reaching a new high 6 times. Still, the stock price is down -33.50% from the 52-week high.
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Insider Transactions
MMM stock investors should be aware that 3M Company (MMM) stock had its last reported insider trading activity 90 days ago on May 18. On May 18, Group President Ashish Khandpur K sold 9,432 shares at $99.27 each. This transaction resulted in the insider making $936,306. On Apr 28, Hammes Eric D. sold 6,487 shares at a price of US$105.33. After the transaction, the insider now owns 10,430 shares. EVP & Chief Legal Officer Rhodes Kevin H had earlier sold 5,703 shares on Oct 28 for $126.40 a share. The transaction was completed for $720,842.
Valuation Metrics
Beta for the stock is 0.97. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.68, the price-to-book (PB) ratio of 7.18, and the price-to-cash flow ratio of 12.48.
Company paid $1.50 per share in dividends, remained unchanged from $1.50 last year.
Financial Health
For the three months ended June 29, 3M Company’s quick ratio was 1.00, while its current ratio was 1.40, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 1.66, and the total debt to equity ratio is 2.05. As far as profitability goes, gross margin for the trailing twelve months is 44.10% percent. 3M Company’s EBITDA margin for the year ended June 29 was 17.25%, whereas its operating margin stood at -8.90% for the same period. Based on annual data, it had gross profit of $15.0 billion and revenue of $34.23 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. MMM’s return on assets (ROA) during the last 12 months has been -3.10%. There was a 19.30% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -11.30%.
Earnings Surprise
According to 3M Company’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $8.32 billion, while revenues fell by -4.53% to $8.03 billion. It was predicted that 3M Company’s quarterly earnings would be $2.17, but it ended up being $1.72, beating the consensus by 26.20%. EBITDA was -$8.51 billion for the quarter. At the end of 3M Company’s most recent quarter ended June 29, its liabilities totaled 41.02 billion, while its total debt was $16.9 billion. Equity owned by shareholders amounts to $551.99 million.
Technical Picture
Here’s a quick look at 3M Company’s (MMM) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 29.62%, suggesting the stock is oversold, with a 12.12% historical volatility rate.
The stochastic %K and %D were 9.63% and 12.37% respectively, while the average true range (ATR) was 2.11. Based on the 14-day stochastic reading of 1.80%, the RSI (14) reading is 38.71%. On the 9-day MACD Oscillator, the stock is at -1.27, and the 14-day reading is at -3.59.
Analyst Ratings
In its most recent analyst report, BofA Securities raised its rating on 3M Company (NYSE: MMM) to a Neutral. Prior to this, analysts firm rated the stock as an Underperform. Analysts have assigned 3M Company (MMM) an Hold rating. MMM is a stock that is recommended for selling by 4 brokerage firms, while 15 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 0 others recommend it as a buy.
What is MMM’s price target for the next 12 months?
The current consensus forecast for the stock is between $96.00 and $161.00, with a median target price of $115.00. In analyzing these forecasts, the average price target given by analysts for 3M Company (MMM) is $115.09.
