3M Co.’s filing revealed that its Former Director Patolawala Monish D acquired Company’s shares for reported $1.95 million on Aug 21 ’24. In the deal valued at $129.98 per share,14,981 shares were bought.
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Then, Patolawala Monish D bought 10,000 shares, generating $1,268,500 in total proceeds.
Before that, Roman Michael F sold 5,675 shares. 3M Co. shares valued at $700,608 were divested by the Chairman of the Board at a price of $123.46 per share. As a result of the transaction, Roman Michael F now holds 174,036 shares, worth roughly $22.72 million.
Argus upgraded its 3M Co. [MMM] rating to a Buy from a a Hold in a research note published recently. A number of analysts have revised their coverage, including Deutsche Bank’s analysts, who increased its forecast for the stock in late July from “a Hold” to “a Buy”. Wolfe Research also remained covering MMM and has increased its forecast on June 13, 2024 with a “an Outperform” recommendation from previously “Peer perform” rating. BofA Securities revised its rating on June 07, 2024. It rated MMM as “a Buy” which previously was an “a Neutral”.
Price Performance Review of MMM
On Friday, 3M Co. [NYSE:MMM] saw its stock jump 1.52% to $130.55. Over the last five days, the stock has gained 2.75%. 3M Co. shares have risen nearly 42.83% since the year began. Nevertheless, the stocks have risen 56.69% over the past one year. While a 52-week high of $129.99 was reached on 08/23/24, a 52-week low of $71.35 was recorded on 03/04/24. SMA at 50 days reached $112.43, while 200 days put it at $93.92.
Levels Of Support And Resistance For MMM Stock
The 24-hour chart illustrates a support level at 129.38, which if violated will result in even more drops to 128.22. On the upside, there is a resistance level at 131.18. A further resistance level may holdings at 131.82. The Relative Strength Index (RSI) on the 14-day chart is 74.49, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 3.08, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 1.18%. Stochastics%K at 92.90% indicates the stock is a selling.
How much short interest is there in 3M Co.?
A steep rise in short interest was recorded in 3M Co. stocks on 2024-07-31, growing by 0.13 million shares to a total of 8.2 million shares. Yahoo Finance data shows the prior-month short interest on 2024-06-28 was 8.07 million shares. There was a rise of 1.61%, which implies that there is a positive sentiment for the stock.
