3M Co. (MMM) Is Now En Route to Higher Prices

3M Co. (NYSE: MMM) is -15.02% lower on its value in year-to-date trading and has touched a low of $85.35 and a high of $116.79 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The MMM stock was last observed hovering at around $93.20 in the last trading session, with the day’s loss setting it -0.3%.

Currently trading at $92.90, the stock is -6.40% and -9.70% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.67 million and changing -0.32% at the moment leaves the stock -7.07% off its SMA200. MMM registered -19.39% loss for a year compared to 6-month gain of -10.59%. The firm has a 50-day simple moving average (SMA 50) of $1.90 and a 200-day simple moving average (SMA200) of -$9.20.

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The stock witnessed a -14.22% loss in the last 1 month and extending the period to 3 months gives it a 0.63%, and is -2.08% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.49% over the week and 2.16% over the month.

3M Co. (MMM) has around Feb 15 2024 employees, a market worth around $51.35B and $32.68B in sales. Fwd P/E is 9.00. Profit margin for the company is -21.40%. Distance from 52-week low is 8.85% and -20.46% from its 52-week high. The company has generated returns on investments over the last 12 months (-37.83%).

3M Co. quarterly earnings per share for the current quarter are estimated at $2.08 with sales reaching $7.64B over the same period.The EPS is expected to grow by 4.04% this year, but quarterly earnings will post 1.40% year-over-year. Quarterly sales are estimated to grow 2.10% in year-over-year returns.

3M Co. (MMM) Top Institutional Holders

2,392 institutions hold shares in 3M Co. (MMM), with institutional investors hold 66.27% of the company’s shares. The shares outstanding are 552.58M, and float is at 552.10M with Short Float at 1.20%. Institutions hold 66.19% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 48.72 million shares valued at $4.88 billion. The investor’s holdings represent 8.83% of the MMM Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 39.81 million shares valued at $3.98 billion to account for 7.21% of the shares outstanding. The other top investors are State Street Corporation which holds 33.31 million shares representing 6.03% and valued at over $3.33 billion, while Charles Schwab Investment Management, Inc. holds 2.34% of the shares totaling 12.9 million with a market value of $1.29 billion.

3M Co. (MMM) Insider Activity

A total of 12 insider transactions have happened at 3M Co. (MMM) in the last six months, with sales accounting for 4 and purchases happening 8 times. The most recent transaction is an insider sale by Ashish Khandpur K ,the company’sGroup President. SEC filings show that Ashish Khandpur K sold 9,432 shares of the company’s common stock on May 18 at a price of $99.27 per share for a total of $0.94 million. Following the sale, the insider now owns 20943.0 shares.

3M Co. disclosed in a document filed with the SEC on Apr 28 that Hammes Eric D. (EVP & Chief Count Gov Svc Off) sold a total of 6,487 shares of the company’s common stock. The trade occurred on Apr 28 and was made at $105.33 per share for $0.68 million. Following the transaction, the insider now directly holds 10430.0 shares of the MMM stock.

3M Co. (MMM): Who are the competitors?

The company’s main competitors (and peers) include Johnson & Johnson (JNJ) that is trading -3.68% down over the past 12 months. Honeywell International Inc. (HON) that is -4.19% lower over the same period.