MMM Stock Summary and Trading Ideas (3M Company | NYSE:MMM)

3M is a multinational conglomerate that has operated since 1902, when it was known as Minnesota Mining and Manufacturing. The company is well known for its research and development laboratory and it leverages its science and technology across multiple product categories. As of the second quarter of 2024, 3M is organized across three business segments: safety and industrial, transportation and electronics, and consumer. Nearly 50% of the company's revenue comes from outside the Americas, with the safety and industrial segment constituting a plurality of net sales. Many of the company's tens of thousands of products touch and concern a variety of consumers and end markets.

3M Company trades on the NYSE stock market under the symbol MMM.

As of April 17, 2024, MMM stock price declined to $90.96 with 3,157,051 million shares trading.

MMM has a beta of 1.14, meaning it tends to be more sensitive to market movements. MMM has a correlation of 0.22 to the broad based SPY ETF.

MMM has a market cap of $50.33 billion. This is considered a Large Cap stock.

Last quarter 3M Company reported $8 billion in Revenue and $2.42 earnings per share. This fell short of revenue expectation by $-7 million and exceeded earnings estimates by $.11.

In the last 3 years, MMM stock traded as high as $208.95 and as low as $85.35.

The top ETF exchange traded funds that MMM belongs to (by Net Assets): VTI, VOO, SPY, DIA, IVV.

MMM has underperformed the market in the last year with a return of +8.0%, while the SPY ETF gained +23.0%. In the last 3 month period, MMM fell short of the market, returning +2.0%, while SPY returned +5.7%. However, in the most recent 2 weeks MMM has outperformed the stock market by returning -2.0%, while SPY returned -3.5%.

MMM support price is $89.43 and resistance is $92.67 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that MMM stock will trade within this expected range on the day.