3M Company [NYSE: MMM] traded at a low on 08/26/22, posting a -9.54 loss after which it closed the day’ session at $129.14. The company report on August 26, 2022 that 3M Statement Regarding Bankruptcy Court Decision.
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3M Separation of Food Safety Business Remains on Track for Targeted September 1 Closing.
Earlier today, the United States Bankruptcy Court in the Southern District of Indiana declined Aearo Technologies’ request for a preliminary injunction to ongoing litigation against 3M related to Combat Arms Earplug Version 2 products.
The results of the trading session contributed to over 38390197 shares changing hands. Over the past one week, the price volatility of 3M Company stands at 3.64% while the volatility over the past one month is 2.14%.
The market cap for MMM stock reached $81.32 billion, with 571.00 million shares outstanding and 568.94 million shares in the current float. Compared to the average trading volume of 4.59M shares, MMM reached a trading volume of 38390197 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about 3M Company [MMM]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MMM shares is $147.46 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MMM stock is a recommendation set at 3.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Bernstein have made an estimate for 3M Company shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on August 17, 2022. While these analysts kept the previous recommendation, Wells Fargo raised their target price from $137 to $144. The new note on the price target was released on July 27, 2022, representing the official price target for 3M Company stock. Previously, the target price had yet another raise from $126 to $131, while Morgan Stanley kept a Underweight rating on MMM stock. On July 27, 2022, analysts increased their price target for MMM shares from 130 to 140.
The Average True Range (ATR) for 3M Company is set at 3.67, with the Price to Sales ratio for MMM stock in the period of the last 12 months amounting to 2.32. The Price to Book ratio for the last quarter was 5.37, with the Price to Cash per share for the same quarter was set at 4.74. Price to Free Cash Flow for MMM in the course of the last twelve months was 89.75 with Quick ratio for the last quarter at 0.90.
How has MMM stock performed recently?
3M Company [MMM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.06. With this latest performance, MMM shares dropped by -8.00% in over the last four-week period, additionally sinking by -14.20% over the last 6 months – not to mention a drop of -33.88% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MMM stock in for the last two-week period is set at 28.98, with the RSI for the last a single of trading hit 20.41, and the three-weeks RSI is set at 34.72 for 3M Company [MMM]. The present Moving Average for the last 50 days of trading for this stock 137.38, while it was recorded at 139.26 for the last single week of trading, and 153.76 for the last 200 days.
3M Company [MMM]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and 3M Company [MMM] shares currently have an operating margin of +21.29 and a Gross Margin at +46.99. 3M Company’s Net Margin is presently recorded at +16.75.
Return on Equity for this stock inclined to 42.42, with Return on Assets sitting at 12.54.
3M Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.50.
Earnings analysis for 3M Company [MMM]
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MMM. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for 3M Company go to 0.40%.
Insider trade positions for 3M Company [MMM]
There are presently around $48,325 million, or 66.90% of MMM stock, in the hands of institutional investors. The top three institutional holders of MMM stocks are: VANGUARD GROUP INC with ownership of 47,888,582, which is approximately 1.245% of the company’s market cap and around 0.12% of the total institutional ownership; BLACKROCK INC., holding 42,987,221 shares of the stock with an approximate value of $5.55 billion in MMM stocks shares; and STATE STREET CORP, currently with $4.22 billion in MMM stock with ownership of nearly 0.291% of the company’s market capitalization.
Positions in 3M Company stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 1,004 institutional holders increased their position in 3M Company [NYSE:MMM] by around 16,483,151 shares. Additionally, 1,093 investors decreased positions by around 19,662,646 shares, while 296 investors held positions by with 338,057,466 shares. The mentioned changes placed institutional holdings at 374,203,263 shares, according to the latest SEC report filing. MMM stock had 126 new institutional investments in for a total of 2,138,536 shares, while 177 institutional investors sold positions of 2,458,117 shares during the same period.