3M Company [MMM] Ashish Khandpur K sells 9,432 Shares for $0.94 million


3M Company’s recent filing unveils that its Group President Ashish Khandpur K unloaded Company’s shares for reported $0.94 million on May 18. In the deal valued at $99.27 per share,9,432 shares were sold. As a result of this transaction, Ashish Khandpur K now holds 20,943 shares worth roughly $ 2.24 million.

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Then, Hammes Eric D. sold 6,487 shares, generating $683,243 in total proceeds. Upon selling the shares at $105.33, the EVP & Chief Count Gov Svc Off now owns 10,430 shares.

Before that, Rhodes Kevin H sold 5,703 shares. 3M Company shares valued at $720,842 were divested by the EVP & Chief Legal Officer at a price of $126.40 per share. As a result of the transaction, Rhodes Kevin H now holds 2,033 shares, worth roughly $0.22 million.

Morgan Stanley upgraded its 3M Company [MMM] rating to an Equal-weight from a an Underweight in a research note published on Tuesday, August 31, 2023; the price target was increased to $113 from $102. PT values the company’s stock at a premium of 5.44 to its Tuesday closing price.

Price Performance Review of MMM

On Tuesday, 3M Company [NYSE:MMM] saw its stock fall -0.09% to $106.85. On the same session, the stock had its day’s lowest price of $106.38, but rose to a high of $108.255. Over the last five days, the stock has gained 2.62%. 3M Company shares have fallen nearly -10.90% since the year began. Nevertheless, the stocks have fallen -14.95% over the past one year. While a 52-week high of $133.91 was reached on 01/17/23, a 52-week low of $92.38 was recorded on 06/01/23. SMA at 50 days reached $103.28, while 200 days put it at $109.12. A total of 4.86 million shares were traded, compared to the trading of 3.64 million shares in the previous session.

Levels Of Support And Resistance For MMM Stock

The 24-hour chart illustrates a support level at 106.07, which if violated will result in even more drops to 105.29. On the upside, there is a resistance level at 107.94. A further resistance level may holdings at 109.04. The Relative Strength Index (RSI) on the 14-day chart is 59.88, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 4.54, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 13.92%. Stochastics %K at 86.70% indicates the stock is a selling.

How much short interest is there in 3M Company?

A steep rise in short interest was recorded in 3M Company stocks on Aug 14, 2023, dropping by -0.45 million shares to a total of 10.93 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 11.38 million shares. There was a decline of -4.12%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.98% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.19.


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