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Saint Paul, Minnesota-based 3M Company (MMM) is a global manufacturing and technology company that produces a wide range of industrial, safety, consumer, healthcare, and electronics products. Valued at a market cap of $90.6 billion, the company’s portfolio includes adhesives and tapes, abrasives, filtration systems, personal protective equipment (PPE), automotive and aerospace materials, and home and office supplies.
Companies valued at $10 billion or more are typically classified as “large-cap stocks,” and MMM fits the label perfectly, with its market cap exceeding this threshold, underscoring its size, influence, and dominance within the conglomerates industry. The company leverages its material-science expertise, research and development capabilities, and broad distribution network to serve customers in more than 200 countries.
This industrial company is currently trading 1.4% below its 52-week high of $172.85, reached on Oct. 24. Shares of MMM have gained 9.6% over the past three months, outperforming the Industrial Select Sector SPDR Fund’s (XLI) marginal drop during the same time frame.
Moreover, on a YTD basis, shares of MMM are up 32.1%, compared to XLI’s 14.9% return. In the longer term, MMM has soared 27.7% over the past 52 weeks, considerably outpacing XLI’s 5.2% uptick over the same time frame.
To confirm its bullish trend, MMM has been trading above its 200-day moving average over the past year, with slight fluctuations, and has remained above its 50-day moving average since early May, with minor fluctuations.
Shares of MMM surged 7.7% on Oct. 21 after its impressive Q3 earnings release. The company’s total revenue grew 3.5% year-over-year to $6.5 billion, while its adjusted EPS increased 10.6% from the year-ago quarter to $2.19, exceeding analyst expectations of $2.10. Its adjusted operating income margin also expanded by a notable 170 basis points from the same period last year to 24.7%, reflecting improved profitability. Additionally, MMM raised its fiscal 2025 adjusted EPS guidance to a range of $7.95 to $8.05, further bolstering investor confidence.
MMM has also significantly outpaced its rival, Honeywell International Inc. (HON), which declined 12.3% over the past 52 weeks and 10.7% on a YTD basis.
Looking at MMM’s recent outperformance, analysts remain moderately optimistic about its prospects. The stock has a consensus rating of "Moderate Buy” from the 16 analysts covering it, and the mean price target of $178.13 suggests a 4.5% premium to its current price levels.
