Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. 3M Co. shares valued at $39,330 were sold by Chavez Rodriguez Beatriz Karin on Feb 14 ’24. At $92.32 per share, Chavez Rodriguez Beatriz Karin sold 426 shares. The insider’s holdings dropped to 3,966 shares worth approximately $0.4 million following the completion of this transaction.
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As published in a research note from Vertical Research on May 16, 2024, 3M Co. [MMM] has been rated up from a Hold to a Buy and the price target has been revised to $140. Analysts at HSBC Securities upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early May. As of May 01, 2024, JP Morgan has increased its “Neutral” rating to a “an Overweight” for MMM. Earlier on March 20, 2024, RBC Capital Mkts resumed its rating. Their recommendation was “an Underperform” for MMM stock.
Analyzing MMM Stock Performance
During the last five days, there has been a surge of approximately 0.25%. Over the course of the year, 3M Co. shares have jumped approximately 11.04%. Shares of the company reached a 52-week high of $106.04 on 05/20/24 and a 52-week low of $75.40 on 03/04/24. A 50-day SMA is recorded $93.61, while a 200-day SMA reached $84.60. Nevertheless, trading volume fell to 3.79 million shares from 4.6 million shares the previous day.
Support And Resistance Levels for 3M Co. (MMM)
According to the 24-hour chart, there is a support level at 100.59, which, if violated, would cause prices to drop to 99.69. In the upper region, resistance lies at 102.75. The next price resistance is at 104.01. RSI (Relative Strength Index) is 62.31 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.08, which suggests the price will increase in the coming days. Percent R is at 41.25%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
