In the latest trading session, 0.7 million 3M Company (NYSE:MMM) shares changed hands as the company’s beta touched 0.96. With the company’s most recent per share price at $183.54 changed hands at -$1.69 or -0.91% at last look, the market valuation stands at $107.88B. MMM’s current price is a discount, trading about -13.84% off its 52-week high of $208.95. The share price had its 52-week low at $156.13, which suggests the last value was 14.93% up since then. When we look at 3M Company’s average trading volume, we note the 10-day average is 3.97 million shares, with the 3-month average coming to 2.29 million.
3M Company (NYSE:MMM) trade information
Instantly MMM was in red as seen in intraday trades today. With action -4.71%, the performance over the past five days has been red. The drop to weekly highs of 188.51 on Monday, 09/13/21 subtracted -0.91% to the stock’s daily price. The company’s shares are showing year-to-date upside of 5.97%, with the 5-day performance at -4.71% in the red. However, in the 30-day time frame, 3M Company (NYSE:MMM) is -8.04% down. Looking at the short shares, we see there were 10.65 million shares sold at short interest cover period of 5.88 days.
The consensus price target for the stock as assigned by Wall Street analysts is $206.58, meaning bulls need an upside of 11.15% from its recent market value. According to analyst projections, MMM’s forecast low is $183.00 with $240.00 as the target high. To hit the forecast high, the stock’s price needs a -30.76% plunge from its current level, while the stock would need to tank 0.29% for it to hit the projected low.
3M Company (MMM) estimates and forecasts
Data shows that the 3M Company share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -2.24% over the past 6 months, a 15.68% in annual growth rate that is considerably lower than the industry average of 27.60%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for 3M Company will rise 0.40%, while the growth in revenue is estimated to hit -3.80% for the next quarter. Year-over-year growth is forecast to reach 9.80% up from the last financial year.
Consensus estimates given by 12 financial analysts project the company’s revenue in the current quarter to hit an average of $8.82 billion. 12 analysts are of the opinion that 3M Company’s revenue for the quarter ending Dec 2021 will be $8.74 billion. The estimates for the next quarter sales put growth at 1.80%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 4.00%. The 2021 estimates are for 3M Company earnings to increase by 18.40%, but the outlook for the next 5-year period is at 8.93% per year.
3M Company is expected to release its next quarterly earnings report on October 26. The 3.20% annual yield figure for the share gives it an annual dividend of 5.92. It is important to note, however, that the 3.20% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision. During the past 5 years, the average dividend yield was 2.89 per year.
3M Company (NYSE:MMM)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.12% of 3M Company shares while 68.72% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 68.80%. There are 68.72% institutions holding the 3M Company stock share, with Vanguard Group, Inc. (The) the top institutional holder. As of Jun 29, 2021, the company held 7.97% of the shares, roughly 46.13 million MMM shares worth $9.16 billion.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 6.89% or 39.89 million shares worth $7.92 billion as of Jun 29, 2021.
Among Mutual Funds, the top two as of Jun 29, 2021 were Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. With 16.37 million shares estimated at $3.25 billion under it, the former controlled 2.83% of total outstanding shares. On the other hand, Vanguard 500 Index Fund held about 2.08% of the shares, roughly 12.04 million shares worth around $2.39 billion.