In a filing, 3M Co revealed 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 $21.9 million.
Melius 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 Morgan Stanley’s analysts, who began to cover the stock in early September with a ‘”an Underweight”‘ rating. Argus also remained covering MMM and has increased its forecast on July 30, 2024 with a “Buy” recommendation from previously “Hold” rating. Deutsche Bank revised its rating on July 29, 2024. It rated MMM as “a Buy” which previously was an “a Hold”.
Price Performance Review of MMM
On Monday, 3M Co [NYSE:MMM] saw its stock fall -1.08% to $125.85. Over the last five days, the stock has lost -3.41%. 3M Co shares have risen nearly 37.69% since the year began. Nevertheless, the stocks have risen 63.06% over the past one year. While a 52-week high of $141.34 was reached on 10/22/24, a 52-week low of $75.65 was recorded on 03/04/24. SMA at 50 days reached $132.82, while 200 days put it at $105.77.
Levels Of Support And Resistance For MMM Stock
The 24-hour chart illustrates a support level at 124.62, which if violated will result in even more drops to 123.38. On the upside, there is a resistance level at 127.95. A further resistance level may holdings at 130.04. The Relative Strength Index (RSI) on the 14-day chart is 36.77, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.93, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 91.98%. Stochastics %K at 15.91% indicates the stock is a buying.
How much short interest is there in 3M Co?
A steep rise in short interest was recorded in 3M Co stocks on 2024-10-15, dropping by -0.95 million shares to a total of 7.6 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 8.55 million shares. There was a decline of -12.48%, which implies that there is a negative sentiment for the stock.
