3M Company [NYSE: MMM] price plunged by -0.03 percent to reach at -$0.03. The company report on February 23, 2023 that Snowed-In 3Mers Freeze Holiday Plans To Save Plant.
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Originally published on 3M News Center.
During the holidays, work is usually the last thing on anyone’s mind. But when a group of 3Mers in Tonawanda, N.Y. – a northern suburb of Buffalo — found themselves snowed into a plant that faced the possibility of a catastrophic shutdown, they bravely shifted their priorities to help their coworkers and save the facility.
A sum of 2941933 shares traded at recent session while its average daily volume was at 3.16M shares. 3M Company shares reached a high of $110.29 and dropped to a low of $108.01 until finishing in the latest session at $108.91.
The one-year MMM stock forecast points to a potential upside of 11.35. The average equity rating for MMM stock is currently 3.20, trading closer to a bullish pattern in the stock market.
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 $122.86 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 3.20. 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 2.84, with the Price to Sales ratio for MMM stock in the period of the last 12 months amounting to 1.74. The Price to Book ratio for the last quarter was 4.08, with the Price to Cash per share for the same quarter was set at 7.13. Price to Free Cash Flow for MMM in the course of the last twelve months was 125.64 with Quick ratio for the last quarter at 1.00.
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 -5.12. With this latest performance, MMM shares dropped by -5.30% in over the last four-week period, additionally sinking by -23.17% over the last 6 months – not to mention a drop of -25.79% 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 35.24, with the RSI for the last a single of trading hit 31.24, and the three-weeks RSI is set at 37.83 for 3M Company [MMM]. The present Moving Average for the last 50 days of trading for this stock 119.45, while it was recorded at 110.42 for the last single week of trading, and 127.94 for the last 200 days.
Insight into 3M Company Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and 3M Company [MMM] shares currently have an operating margin of +11.90 and a Gross Margin at +43.72. 3M Company’s Net Margin is presently recorded at +16.88.
Return on Equity for this stock inclined to 38.81, with Return on Assets sitting at 12.35.
3M Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 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 -0.23%.
3M Company [MMM] Insider Position Details
There are presently around $40,464 million, or 68.10% of MMM stock, in the hands of institutional investors. The top three institutional holders of MMM stocks are: VANGUARD GROUP INC with ownership of 46,872,159, which is approximately 1.068% of the company’s market cap and around 0.11% of the total institutional ownership; BLACKROCK INC., holding 42,492,669 shares of the stock with an approximate value of $4.63 billion in MMM stocks shares; and STATE STREET CORP, currently with $3.63 billion in MMM stock with ownership of nearly 2.982% of the company’s market capitalization.
Positions in 3M Company stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 876 institutional holders increased their position in 3M Company [NYSE:MMM] by around 21,249,973 shares. Additionally, 1,106 investors decreased positions by around 20,813,818 shares, while 273 investors held positions by with 329,472,958 shares. The mentioned changes placed institutional holdings at 371,536,749 shares, according to the latest SEC report filing. MMM stock had 214 new institutional investments in for a total of 3,147,353 shares, while 140 institutional investors sold positions of 1,463,595 shares during the same period.