The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. 3M Co. shares valued at $700,608 were sold by Roman Michael F on Aug 07 ’24. At $123.46 per share, Roman Michael F sold 5,675 shares. The insider’s holdings dropped to 174,036 shares worth approximately $21.96 million following the completion of this transaction.
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Also, Michael F. Roman purchased 5,675 shares, netting a total of over 700,749 in proceeds.
Before that, Reinseth Theresa E had sold 2,100 shares from its account. In a trade valued at $260,652, the Interim CFO and SVP CAO traded 3M Co. shares for $124.12 each. Upon closing the transaction, the insider’s holdings decreased to 2,100 shares, worth approximately $0.55 million.
As published in a research note from Argus on July 30, 2024, 3M Co. [MMM] has been rated up from a Hold to a Buy and the price target has been revised to $145. Analysts at Deutsche Bank upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in late July. As of June 13, 2024, Wolfe Research has increased its “Peer perform” rating to a “an Outperform” for MMM. Earlier on June 07, 2024, BofA Securities upgraded its rating. Their new recommendation was “a Buy” for MMM stock which previously was a “a Neutral”.
Analyzing MMM Stock Performance
During the last five days, there has been a surge of approximately 2.72%. Over the course of the year, 3M Co. shares have jumped approximately 38.04%. Shares of the company reached a 52-week high of $128.65 on 07/29/24 and a 52-week low of $75.40 on 03/04/24. A 50-day SMA is recorded $108.49, while a 200-day SMA reached $92.10. Nevertheless, trading volume fell to 3.25 million shares from 3.06 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 124.85, which, if violated, would cause prices to drop to 123.54. In the upper region, resistance lies at 127.26. The next price resistance is at 128.36. RSI (Relative Strength Index) is 70.08 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.39, which suggests the price will decrease in the coming days. Percent R is at 15.53%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
