Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. 3M Co. shares valued at $1,947,230 were purchased by Patolawala Monish D on Aug 21 ’24. At $129.98 per share, Patolawala Monish D acquired 14,981 shares.
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Also, Patolawala Monish D purchased 10,000 shares, netting a total of over 1,268,500 in proceeds.
Before that, Roman Michael F had sold 5,675 shares from its account. In a trade valued at $700,608, the Chairman of the Board traded 3M Co. shares for $123.46 each. Upon closing the transaction, the insider’s holdings decreased to 5,675 shares, worth approximately $23.23 million.
As published in their initiating research note from Morgan Stanley on September 06, 2024, 3M Co. [MMM] has been an Underweight and the price target has been revised to $125. Analysts at Argus upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in late July. As of July 29, 2024, Deutsche Bank has increased its “Hold” rating to a “Buy” for MMM. Earlier on June 13, 2024, Wolfe Research upgraded its rating. Their new recommendation was “an Outperform” for MMM stock which previously was a “a Peer perform”.
Analyzing MMM Stock Performance
During the last five days, there has been a drop of approximately -0.98%. Over the course of the year, 3M Co. shares have jumped approximately 46.02%. Shares of the company reached a 52-week high of $140.72 on 09/26/24 and a 52-week low of $75.40 on 03/04/24. A 50-day SMA is recorded $131.17, while a 200-day SMA reached $102.30. Nevertheless, trading volume fell to 3.06 million shares from 2.67 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 132.76, which, if violated, would cause prices to drop to 132.07. In the upper region, resistance lies at 134.32. The next price resistance is at 135.19. RSI (Relative Strength Index) is 49.61 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.57, which suggests the price will decrease in the coming days. Percent R is at 93.20%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
