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

3M, a multinational conglomerate founded in 1902, sells tens of thousands of products ranging from sponges to respirators. The firm is well known for its extensive research and development capabilities, and it is a pioneer in inventing new use cases for its proprietary technologies. 3M is organized across three business segments: safety and industrial (representing around 44% of revenue), transportation and electronics (36%), and consumer (20%). The firm recently spun off its healthcare business, now known as Solventum. Nearly half of 3M's revenue comes from outside the Americas.

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

As of November 5, 2024, MMM stock price climbed to $126.52 with 3,202,359 million shares trading.

MMM has a beta of 0.54, meaning it tends to be less sensitive to market movements. MMM has a correlation of 0.03 to the broad based SPY ETF.

MMM has a market cap of $68.90 billion. This is considered a Large Cap stock.

Last quarter 3M Company reported $6 billion in Revenue and $1.98 earnings per share. This beat revenue expectation by $8 million and exceeded earnings estimates by $.08.

In the last 3 years, MMM traded as high as $186.30 and as low as $85.35.

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

MMM has outperformed the market in the last year with a return of +57.9%, while the SPY ETF gained +34.3%. However, in the most recent history, MMM shares have underperformed the stock market with its stock returning +1.6% in the last 3 month period and -6.2% for the last 2 week period, while SPY has returned +8.5% and -1.2%, respectively.

MMM support price is $124.36 and resistance is $127.34 (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 shares will trade within this expected range on the day.