In today’s recent session, 4.41 million shares of the 3M Co. (NYSE:MMM) have been traded, and its beta is 1.02. Most recently the company’s share price was $91.05, and it changed around $2.37 or 2.67% from the last close, which brings the market valuation of the company to $50.38B. MMM at last check was trading at a discount to its 52-week high of $94.59, offering almost -3.89% off that amount. The share price’s 52-week low was $71.35, which indicates that the recent value has risen by an impressive 21.64% since then. We note from 3M Co.’s average daily trading volume that its 10-day average is 5.49 million shares, with the 3-month average coming to 6.06 million.
3M Co. stock received a consensus recommendation rating of Hold, based on a mean score of 3.11. If we narrow it down even further, the data shows that 3 out of 15 analysts rate the stock as a Sell; another 4 rate it as Overweight. Among the rest, 7 recommended MMM as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. 3M Co. is expected to report earnings per share of $2.09 for the current quarter.
3M Co. (NYSE:MMM) trade information
Instantly MMM has been showing a green trend so far today with a performance of 2.67% on intraday trading today. The performance over the last five days has remained in the green territory. The company’s shares are currently down -0.38% year-to-date, but still up 1.99% over the last five days. On the other hand, 3M Co. (NYSE:MMM) is 18.22% up in the 30-day period. We can see from the shorts that 12.65 million shares have been sold at a short interest cover period of 2.16 day(s).
The consensus price target as assigned by Wall Street analysts is $142.21, which translates to bulls needing to increase their stock price by 35.97% from its current value. Analyst projections state that MMM is forecast to be at a low of $84 and a high of $190.
3M Co. (MMM) estimates and forecasts
3M Co. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 16.77 percent over the past six months and at a 5.74% annual growth rate that is well above the industry average of 2.90%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 6.10% in revenue this quarter, and will report an increase of 11.50% in the next quarter. The year-over-year growth rate is expected to be 1.50%, up from the previous year.
Consensus estimates provided by 10 financial analysts predict the company will bring in an average of $7.64 billion in revenue for the current quarter. 10 analysts expect 3M Co. to make $8.05 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $7.49 billion and $7.87 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 2.10%. Forecasts for the next quarter put sales growth at 2.30%.
3M Co. earnings are expected to increase by 2.02% in 2024, but the outlook is negative -0.80% per year for the next five years.
MMM Dividends
3M Co.’s next quarterly earnings report is expected to be released around April 23 and April 29. The annual dividend yield of the stock is 6.60 percent and its annual dividend per share was 6.01. It is important to note, however, that the 6.60% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.
3M Co. (NYSE:MMM)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.10% of 3M Co. shares, and 66.85% of them are in the hands of institutional investors. The stock currently has a share float of 66.92%. 3M Co. stock is held by 2,484 institutions, with Vanguard Group Inc being the largest institutional investor. By Dec 30, 2023, it held 8.87% of the shares, which is about 49.08 million shares worth $4.51 billion.
Blackrock Inc., with 7.57% or 41.87 million shares worth $3.85 billion as of Dec 30, 2023, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund were the top two Mutual Funds as of Dec 30, 2023. The former held 17.34 million shares worth $1.59 billion, making up 3.13% of all outstanding shares. On the other hand, Vanguard 500 Index Fund held roughly 13.49 million shares worth around $1.24 billion, which represents about 2.44% of the total shares outstanding.
