3M Company [MMM] Stock trading around $111.12 per share: What’s Next?

3M Company [NYSE: MMM] stock went on a downward path that fall over -3.52% on Thursday, amounting to a one-week price decrease of less than -1.05%. The company report on October 6, 2022 that 3M’s Energy Efficiency Efforts Recognized by the U.S. Department of Energy and NASA.


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3M:

The first Wednesday in October is Energy Efficiency Day – this year it’s Oct. 5 – an annual effort started in 2016 by a group of efficiency advocacy groups to raise awareness of the benefits of saving energy.

Over the last 12 months, MMM stock dropped by -37.71%. The one-year 3M Company stock forecast points to a potential upside of 21.56. The average equity rating for MMM stock is currently 3.30, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $64.33 billion, with 571.00 million shares outstanding and 568.92 million shares in the current float. Compared to the average trading volume of 9.46M shares, MMM stock reached a trading volume of 4323267 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $141.66 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.

UBS have made an estimate for 3M Company shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on September 09, 2022. While these analysts kept the previous recommendation, Bernstein raised their target price to Mkt Perform. The new note on the price target was released on August 17, 2022, representing the official price target for 3M Company stock. Previously, the target price had yet another raise from $137 to $144, while Wells Fargo kept a Equal Weight rating on MMM stock. On July 27, 2022, analysts increased their price target for MMM shares from 126 to 131.

The Average True Range (ATR) for 3M Company is set at 3.23, with the Price to Sales ratio for MMM stock in the period of the last 12 months amounting to 1.83. The Price to Book ratio for the last quarter was 4.62, with the Price to Cash per share for the same quarter was set at 5.15. Price to Free Cash Flow for MMM in the course of the last twelve months was 71.00 with Quick ratio for the last quarter at 0.90.

MMM Stock Performance Analysis:

3M Company [MMM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.05. With this latest performance, MMM shares dropped by -7.82% in over the last four-week period, additionally sinking by -26.07% over the last 6 months – not to mention a drop of -37.71% 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 34.40, with the RSI for the last a single of trading hit 35.19, and the three-weeks RSI is set at 34.79 for 3M Company [MMM]. The present Moving Average for the last 50 days of trading for this stock 129.66, while it was recorded at 113.13 for the last single week of trading, and 145.41 for the last 200 days.

Insight into 3M Company Fundamentals:

3M Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.50.

MMM Stock EPS

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%.

3M Company [MMM] Insider Position Details

There are presently around $41,481 million, or 67.00% 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 $4.78 billion in MMM stocks shares; and STATE STREET CORP, currently with $3.63 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 October and at the time of the October reporting period, where 996 institutional holders increased their position in 3M Company [NYSE:MMM] by around 16,548,691 shares. Additionally, 1,073 investors decreased positions by around 19,934,161 shares, while 292 investors held positions by with 336,813,271 shares. The mentioned changes placed institutional holdings at 373,296,123 shares, according to the latest SEC report filing. MMM stock had 124 new institutional investments in for a total of 2,163,082 shares, while 175 institutional investors sold positions of 2,913,537 shares during the same period.

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