Currently, there are 552.58M common shares owned by the public and among those 548.87M shares have been available to trade.
The company’s stock has a 5-day price change of -1.47% and 29.30% over the past three months. MMM shares are trading 36.64% year to date (YTD), with the 12-month market performance up to 41.58% higher. It has a 12-month low price of $71.35 and touched a high of $128.65 over the same period. MMM has an average intraday trading volume of 4.87 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 12.18%, 19.04%, and 38.07% respectively.
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Institutional ownership of 3M Co. (NYSE: MMM) shares accounts for 67.02% of the company’s 552.58M shares outstanding.
It has a market capitalization of $68.61B and a beta (3y monthly) value of 0.91. The stock’s trailing 12-month PE ratio is 73.85, while the earnings-per-share (ttm) stands at $1.69. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.12% over the week and 3.08% over the month.
Analysts forecast that 3M Co. (MMM) will achieve an EPS of 1.9 for the current quarter, 1.7 for the next quarter and 7.84 for current fiscal year. The lowest estimate earnings-per-share for the quarter is 1.78 while analysts give the company a high EPS estimate of 1.78. Comparatively, EPS for the current quarter was 2.44 a year ago. Earnings per share for the fiscal year are expected to decrease by -5.79%, and 8.42% over the next financial year.
Looking at the support for the MMM, a number of firms have released research notes about the stock. Argus stated their Buy rating for the stock in a research note on July 30, 2024, with the firm’s price target at $145. Deutsche Bank coverage for the 3M Co. (MMM) stock in a research note released on July 29, 2024 offered a Buy rating with a price target of $150. Wolfe Research was of a view on June 13, 2024 that the stock is Outperform, while BofA Securities gave the stock Buy rating on June 07, 2024, issuing a price target of $105- $120. Vertical Research on their part issued Buy rating on May 16, 2024.
