3M Company [MMM] Revenue clocked in at $34.23 billion, down -10.64% YTD: What’s Next?

3M Company [NYSE: MMM] gained 0.07% on the last trading session, reaching $107.16 price per share at the time. The company report on March 2, 2023 that 3M and Guardhat announce collaboration on connected safety.

Guardhat will bring 3M’s Safety Inspection Manager (SIM) into its Industrial Internet of People (IIoP) platform to accelerate product development.

This collaboration is expected to accelerate SIM enhancements while also evaluating new connected safety personal protection equipment (PPE) that aims to keep more frontline workers safe.

3M Company represents 551.90 million in outstanding shares, while the company has a total market value of $58.27 billion with the latest information. MMM stock price has been found in the range of $106.18 to $107.77.

If compared to the average trading volume of 3.37M shares, MMM reached a trading volume of 3432214 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $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 3.30. 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 2.67, with the Price to Sales ratio for MMM stock in the period of the last 12 months amounting to 1.70. The Price to Book ratio for the last quarter was 4.02, with the Price to Cash per share for the same quarter was set at 7.16. Price to Free Cash Flow for MMM in the course of the last twelve months was 123.19 with Quick ratio for the last quarter at 1.00.

Trading performance analysis for MMM stock

3M Company [MMM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.77. With this latest performance, MMM shares dropped by -8.02% in over the last four-week period, additionally sinking by -8.10% over the last 6 months – not to mention a drop of -25.21% 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 36.64, with the RSI for the last a single of trading hit 34.55, and the three-weeks RSI is set at 38.37 for 3M Company [MMM]. The present Moving Average for the last 50 days of trading for this stock 116.79, while it was recorded at 109.07 for the last single week of trading, and 126.10 for the last 200 days.

3M Company [MMM]: A deeper dive into fundamental analysis

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.

3M Company [MMM]: An earnings per share (EPS) analysis

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%.

An analysis of insider ownership at 3M Company [MMM]

There are presently around $39,827 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 $4.55 billion in MMM stocks shares; and STATE STREET CORP, currently with $3.58 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 878 institutional holders increased their position in 3M Company [NYSE:MMM] by around 21,398,499 shares. Additionally, 1,110 investors decreased positions by around 20,851,746 shares, while 272 investors held positions by with 329,409,395 shares. The mentioned changes placed institutional holdings at 371,659,640 shares, according to the latest SEC report filing. MMM stock had 218 new institutional investments in for a total of 3,168,426 shares, while 142 institutional investors sold positions of 1,494,968 shares during the same period.