Investors Getting Picky When It Comes To Buying 3M Co. (MMM)

3M Co. (NYSE:MMM) does about 4.57M shares in volume on a normal day but saw 2314976 shares change hands in Monday trading. The company now has a market cap of 55.94B USD. Its current market price is $101.10, marking a decrease of -0.22% compared to the previous close of $101.32. The 52 week high reached by this stock is $106.04 whilst the lowest price level in 52 weeks is $71.35.

3M Co. (MMM) has a 20-day trading average at $101.50 and the current price is -4.66% off the 52-week high compared with 41.69% distance from its 52-week low. The 50-day simple moving average of the closing price is $99.79 and its 200-day simple moving average is $86.81. If we look at the stock’s price movements over the week, volatility stands at 1.86%, which increases to 1.97% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 51.31 to suggest the stock is neutral.

The consensus objective for the share price is $111.71, suggesting that the stock has a potential upside of 9.5% over the period.

The company shares received a number of brokerage firm price updates over the past month, with the latest being on June 13, 2024 when Wolfe Research upgraded the stock to “Outperform” and issued a price target of $125. BofA Securities also upgraded the stock to “Buy” from Neutral on June 07, 2024 at a price target of $105-$120. Vertical Research upgraded its price target at $140.

3M Co. (MMM) stock is down -1.07% over the week and 2.06% over the past month. Its price is 10.61% year-to-date and 25.56% over the past year.

To reach the target analysts have set, the stock logically needs to grow 9.5 percent from here.

The company has a return on investment of -27.11% and return on equity of -69.86%. The forward price to earnings ratio is 12.98. The beta has a value of 0.94. Price to book ratio is 11.50 and price to sales ratio is 1.71.