3M Co. [MMM] Is Currently 1.60 below its 200 Period Moving Avg: What Does This Mean?

3M Co. [NYSE: MMM] gained 1.60% or 1.43 points to close at $90.95 with a heavy trading volume of 4644777 shares. The company report on October 26, 2023 at 10:10 AM that 3M Announces Upcoming Investor Event.

3M (NYSE: MMM) today announced the following investor event:.

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Baird’s 2023 Global Industrial Conference on Wednesday, Nov. 8, 2023. Monish Patolawala, President and Chief Financial Officer, will speak at 9:05 a.m. CST.

It opened the trading session at $89.48, the shares rose to $91.57 and dropped to $89.41, the range by which the price of stock traded the whole day. The daily chart for MMM points out that the company has recorded -11.68% loss over the past six months. However, it is still -6.56% lower than its most recent low trading price.

If we look at the average trading volume of 3.61M shares, MMM reached to a volume of 4644777 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 Co. [MMM]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MMM shares is $108.23 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 3.16. 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.

HSBC Securities have made an estimate for 3M Co. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on September 15, 2023.

The Average True Range (ATR) for 3M Co. is set at 2.12, with the Price to Sales ratio for MMM stock in the period of the last 12 months amounting to 1.53. The Price to Book ratio for the last quarter was 10.75, with the Price to Cash per share for the same quarter was set at 9.44. Price to Free Cash Flow for MMM in the course of the last twelve months was 10.35 with Quick ratio for the last quarter at 0.72.

Trading performance analysis for MMM stock

3M Co. [MMM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.92. With this latest performance, MMM shares gained by 0.81% in over the last four-week period, additionally sinking by -11.68% over the last 6 months – not to mention a drop of -28.16% 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 49.88, with the RSI for the last a single of trading hit 56.31, and the three-weeks RSI is set at 46.37 for 3M Co. [MMM]. The present Moving Average for the last 50 days of trading for this stock 95.75, while it was recorded at 89.21 for the last single week of trading, and 102.88 for the last 200 days.

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

Operating Margin for any stock indicates how profitable investing would be, and 3M Co. [MMM] shares currently have an operating margin of +11.90 and a Gross Margin at +43.72. 3M Co.’s Net Margin is presently recorded at +16.88.

Return on Total Capital for MMM is now 12.52, given the latest momentum, and Return on Invested Capital for the company is 18.89. Return on Equity for this stock inclined to 38.81, with Return on Assets sitting at 12.35. When it comes to the capital structure of this company, 3M Co. [MMM] has a Total Debt to Total Equity ratio set at 114.56. Additionally, MMM Total Debt to Total Capital is recorded at 53.39, with Total Debt to Total Assets ending up at 36.31. Long-Term Debt to Equity for the company is recorded at 99.55, with the Long-Term Debt to Total Capital now at 46.40.

Reflecting on the efficiency of the workforce at the company, 3M Co. [MMM] managed to generate an average of $62,793 per employee. Receivables Turnover for the company is 7.45 with a Total Asset Turnover recorded at a value of 0.73.3M Co.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.72 and a Current Ratio set at 1.05.

3M Co. [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 Co. go to 1.77%.

An analysis of Institutional ownership at 3M Co. [MMM]

The top three institutional holders of MMM stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in MMM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in MMM stock with ownership which is approximately 5.7994%.