3M Company (NYSE: MMM) has a higher price-to-earnings ratio of 10.27x compared to its average ratio. compared to its average ratio and a 36-month beta value of 0.96. Analysts have mixed views on the stock, with 0 analysts rating it as a “buy,” 1 as “overweight,” 15 as “hold,” and 4 as “sell.”
The average price point forecasted by analysts for 3M Company (MMM) is $117.81, which is $19.32 above the current market price. The public float for MMM is 543.75M, and currently, short sellers hold a 2.42% ratio of that float. The average trading volume of MMM on March 17, 2023 was 3.39M shares.
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MMM) stock’s latest price update
3M Company (NYSE: MMM)’s stock price has decreased by -1.55 compared to its previous closing price of 104.21. Nevertheless, the company has seen a -1.40% plunge in its stock price over the last five trading sessions. MarketWatch.com reported on 03/16/23 that Cancer-linked PFAS — known as ‘forever chemicals’ — could be banned in drinking water for first time
MMM’s Market Performance
3M Company (MMM) has experienced a -1.40% fall in stock performance for the past week, with a -10.62% drop in the past month, and a -18.63% drop in the past quarter. The volatility ratio for the week is 2.85%, and the volatility levels for the past 30 days are at 2.30% for MMM. The simple moving average for the last 20 days is -4.75% for MMM stock, with a simple moving average of -17.81% for the last 200 days.
Analysts’ Opinion of MMM
Many brokerage firms have already submitted their reports for MMM stocks, with UBS repeating the rating for MMM by listing it as a “Neutral.” The predicted price for MMM in the upcoming period, according to UBS is $126 based on the research report published on September 09th of the previous year 2022.
Bernstein, on the other hand, stated in their research note that they expect to see MMM reach a price target of $155. The rating they have provided for MMM stocks is “Mkt Perform” according to the report published on August 17th, 2022.
Wells Fargo gave a rating of “Equal Weight” to MMM, setting the target price at $144 in the report published on July 27th of the previous year.
MMM Trading at -10.64% from the 50-Day Moving Average
After a stumble in the market that brought MMM to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -33.66% of loss for the given period.
Volatility was left at 2.30%, however, over the last 30 days, the volatility rate increased by 2.85%, as shares sank -8.15% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -17.80% lower at present.
During the last 5 trading sessions, MMM fell by -1.14%, which changed the moving average for the period of 200-days by -31.09% in comparison to the 20-day moving average, which settled at $107.26. In addition, 3M Company saw -14.44% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at MMM starting from Rhodes Kevin H, who sale 5,703 shares at the price of $126.40 back on Oct 28. After this action, Rhodes Kevin H now owns 2,033 shares of 3M Company, valued at $720,842 using the latest closing price.
Chavez Rodriguez Beatriz Karin, the SVP & Chief Strategy Officer of 3M Company, sale 1,071 shares at $126.28 during a trade that took place back on Oct 28, which means that Chavez Rodriguez Beatriz Karin is holding 3,313 shares at $135,246 based on the most recent closing price.
Stock Fundamentals for MMM
Current profitability levels for the company are sitting at:
- +11.90 for the present operating margin
- +43.72 for the gross margin
The net margin for 3M Company stands at +16.88. Equity return is now at value 40.20, with 12.60 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 1.54.
Conclusion
To put it simply, 3M Company (MMM) has had a bad performance in recent times. Analysts have a bearish opinion on the stock, with some rating it as a “sell” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
