The price of 3M Co. (NYSE:MMM) shares last traded on Wall Street rose 1.16% to $101.24.
MMM stock price is now 11.62% away from the 50-day moving average and 19.92% away from the 200-day moving average. The market capitalization of the company currently stands at $56.02B.
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With the price target maintained at $115, HSBC Securities recently Upgraded its rating from Hold to Buy for 3M Co. (NYSE: MMM). On May 01, 2024, JP Morgan Upgraded its previous ‘Neutral’ rating to ‘Overweight’ on the stock increasing its target price from $110 to quote $111, while ‘RBC Capital Mkts’ rates the stock as ‘Underperform’
In other news, Chavez Rodriguez Beatriz Karin, Group President sold 426 shares of the company’s stock on Feb 14 ’24. The stock was sold for $39,330 at an average price of $92.32. Upon completion of the transaction, the Group President now directly owns 3,966 shares in the company, valued at $0.4 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 18 ’23, Group President Ashish Khandpur K sold 9,432 shares of the business’s stock. A total of $936,306 was realized by selling the stock at an average price of $99.27. This leaves the insider owning 20,943 shares of the company worth $2.12 million. A total of 0.08% of the company’s stock is owned by insiders.
During the past 12 months, 3M Co. has had a low of $71.35 and a high of $101.74. As of last week, the company has a debt-to-equity ratio of 4.55, a current ratio of 1.64, and a quick ratio of 1.27.
According to the Conglomerates Company, earnings per share came in at 2.17, beating analysts’ expectations of 1.72 by 0.45. This compares to $1.77 EPS in the same period last year. The net profit margin was -21.57% and return on equity was -69.86% for MMM. The company reported revenue of $8.0 billion for the quarter, compared to $8.03 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -0.35 percent. For the current quarter, analysts expect MMM to generate $5.88B in revenue.
