3M Co. (NYSE:MMM) finished Friday with an addition of $0.36 to close at $93.62, an upside of 0.39 percent. An average of 3,623,500 shares of common stock have been traded in the last five days. There was a fall of -$3.42 in the past week, and it reached a new high 14 times over the past 12 months. The last 20 days have seen an average of 3,762,930 shares traded, while the 50-day average volume stands at 3,692,284.
MMM stock has decreased by -10.37% in the last month. The company shares reached their 1-month lowest point of $92.41 on 09/28/23. With the stock rallying to its 52-week high on 01/17/23, shares of the company touched a low of $92.38 and a high of $133.91 in 52 weeks. It has reached a new high 6 times so far this year and lost -21.93% or -$26.30 in price. In spite of this, the price is down -30.09% from the 52-week high.
Insider Transactions
MMM stock investors should be aware that 3M Co. (MMM) stock had its last reported insider trading activity 135 days ago on May 18. In this transaction, the insider spent $936,306. EVP & Chief Count Gov Svc Off, Hammes Eric D., disposed of 6,487 shares at a price of $105.33 on Apr 28. The insider now owns more than $683,243 worth of shares. Prior to that, EVP & Chief Legal Officer Rhodes Kevin H went on to Sale 5,703 shares at $126.40 each on Oct 28. An amount of $720,842 was transacted.
Valuation Metrics
3M Co. (MMM) stock’s beta is 0.99. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.56, the price-to-book (PB) ratio at 6.63, and the price-to-cash flow ratio at 11.63.
The company has a payout ratio of 58.56%. The company’s most recent quarterly dividend payment was $1.50 a share, without any change from last year. Its latest increase dividend $0.01 reported on Tuesday February 7 2023.
Financial Health
The quick ratio of 3M Co. for the recent quarter was 0.96, and the current ratio was 1.44, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.73 and a total debt to equity ratio of 2.15 for the recent quarter. Its gross profit as reported stood at $15.0 billion compared to revenue of $34.23 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, 3M Co.’s return on assets was -3.10%.
Earnings Surprise
For the recent quarter, 3M Co. had $12.95 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$6.84 billion in the quarter, while revenues were grew 101.14%. Shareholders own equity worth $551.99 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at 3M Co. (MMM) price momentum. RSI 9-day as of the close on 29 September was 21.70%, suggesting the stock is oversold, with historical volatility in this time frame at 9.74%.
As of today, MMM’s price is $93.80 -3.52% or -$3.42 from its 5-day moving average. MMM is currently trading -12.23% lower than its 20-day SMA and -8.52% lower than its 100-day SMA. However, the stock’s current price level is -10.23% below the SMA50 and -26.20% below the SMA200.
The stochastic %K and %D were 4.97% and 3.90%, respectively, and the average true range (ATR) was 1.89. With the 14-day stochastic at 7.38% and the average true range at 2.03, the RSI (14) stands at 28.54%. The stock has reached -2.42 on the 9-day MACD Oscillator while the 14-day reading was at -4.80.
Analyst Ratings
HSBC Securities launched coverage on 3M Co. (NYSE: MMM) in its analyst report released on September 15, 2023. The firm assigned the stock a Hold rating. The consensus rating for 3M Co. (MMM) among analysts is Hold. According to current brokerage recommendations, 2 brokerage firms advise that investors sell MMM, while 17 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 0 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 $96.00 and $158.00, with a median target of $114.00. Taking a look at these predictions, the average price target given by analysts for 3M Co. (MMM) stock is $114.96.
