3M Co. (NYSE:MMM)’s traded shares stood at 1.0 million during the latest session, with the company’s beta value hitting 1.01. At the last check today, the stock’s price was $105.40, to imply an increase of 0.78% or $0.81 in intraday trading. The MMM share’s 52-week high remains $113.14, putting it -7.34% down since that peak but still an impressive 19.02% since price per share fell to its 52-week low of $85.35. The company has a valuation of $58.26B, with an average of 7.87 million shares in intraday trading volume over the past 10 days and average of 5.04 million shares over the past 3 months.
3M Co. (NYSE:MMM) trade information
After registering a 0.78% upside in the latest session, 3M Co. (MMM) has traded red over the past five days. The stock hit a weekly high of 108.12, jumping 0.78% in its intraday price action. The 5-day price performance for the stock is -2.29%, and 15.24% over 30 days. With these gigs, the year-to-date price performance is -3.58%. Short interest in 3M Co. (NYSE:MMM) saw shorts transact 12.65 million shares and set a 2.16 days time to cover.
3M Co. (MMM) estimates and forecasts
Looking at statistics comparing 3M Co. share performance against respective industry, we note that the company has outperformed competitors. 3M Co. (MMM) shares are 12.78% up over the last 6 months, with its year-to-date growth rate higher than industry average at 5.74% against 2.90%. Revenue is forecast to shrink -2.00% this quarter before jumping 2.80% for the next one. The rating firms project that company’s revenue will grow 1.50% compared to the previous financial year.
Revenue forecast for the current quarter as set by 10 analysts is $7.06 billion. Meanwhile, for the quarter ending Jun 2024, a total of 10 analyst(s) estimate revenue growth to $7.43 billion.Earnings reports from the last fiscal year show that sales brought in $7.49 billion and $7.87 billion respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -5.70% before dropping -5.50% in the following quarter.
MMM Dividends
3M Co. has its next earnings report out between April 23 and April 29. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. 3M Co. has a forward dividend ratio of 6.01, with the share yield ticking at 5.70% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
3M Co. (NYSE:MMM)’s Major holders
3M Co. insiders hold 0.12% of total outstanding shares, with institutional holders owning 66.86% of the shares at 66.94% float percentage. In total, 66.86% institutions holds shares in the company, led by Vanguard Group Inc. As of Dec 30, 2023, the company held over 49.08 million shares (or 8.88% of shares), all amounting to roughly $5.17 billion.
The next major institution holding the largest number of shares is Blackrock Inc. with 41.87 million shares, or about 7.58% of shares outstanding. As of the market price on Dec 30, 2023, these shares were worth $4.41 billion.
We also have Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund as the top two Mutual Funds with the largest holdings of the 3M Co. (MMM) shares. Going by data provided on Dec 30, 2023, Vanguard Total Stock Market Index Fund holds roughly 17.34 million shares. This is just over 3.14% of the total shares, with a market valuation of $1.83 billion. Data from the same date shows that the other fund manager holds a little less at 13.49 million, or 2.44% of the shares, all valued at about 1.42 billion.
