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3M stock closes in green for an eighth consecutive day
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3M Board Declares Quarterly Dividend
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3M expands facility in Valley, Nebraska
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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 May 21, 2024, MMM stock price declined to $103.61 with 1,587,592 million shares trading.
MMM has a beta of 0.98, meaning it tends to be less sensitive to market movements. MMM has a correlation of 0.17 to the broad based SPY ETF.
MMM has a market cap of $57.33 billion. This is considered a Large Cap stock.
Last quarter 3M Company reported $8 billion in Revenue and $2.39 earnings per share. This beat revenue expectation by $592 million and exceeded earnings estimates by $.43.
In the last 3 years, MMM stock traded as high as $206.81 and as low as $85.35.
The top ETF exchange traded funds that MMM belongs to (by Net Assets): VTI, VOO, SPY, IVV, DIA.
MMM stock has underperformed the market in the last year with a return of +26.6%, while SPY returned +28.2%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in MMM shares. However, MMM has outperformed the market in the last 3 month and 2 week periods, returning +31.7% and +7.3%, while SPY returned +7.0% and +2.6%, respectively. This indicates MMM has been having a stronger performance recently.
MMM support price is $103.93 and resistance is $106.49 (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.