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3M Gets Order from the United States Army

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3M’s orders from the Army

On May 18, 2017, 3M (MMM) announced that it has received orders from the United States Army. The 3M Personal Safety Division will supply the initial order, which includes PELTOR TEP-100 earplug kits and PELTOR ComTac communication headsets, along with spare parts and other accessories. The order is estimated to be worth $1.6 million.

Shawn Gregg, the US business director of 3M’s Personal Safety Division, said, “3M supports PEO Soldier’s objective to maintain hearing protection and prevent hearing loss. These products will help soldiers be more effective in combat, and will help allow them to return home with their hearing intact.”

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3M stock for week ended May 19

On May 19, 2017, MMM closed at $195.80 and fell 0.40% for the week. The stock was trading 5.2% above its 100-day moving average of $186.82, indicating an upward trend. Analysts expect MMM’s 12-month target price to be $195.14. However, the stock is already trading above the indicated target price. On a year-to-date basis, the stock has returned 9.7%.

The 14-day RSI (relative strength index) of 53 indicates that the stock has moved temporarily into an overbought situation. An RSI of 70 and above indicates that the stock is overbought, while an RSI of 30 and below indicates that the stock is oversold.

The SPDR Dow Jones Industrial Average ETF (DIA), which holds 6.3% in MMM as of May 19, 2017, underperformed MMM with a return of -0.60% for the week to close at $207.77. The top holdings of the fund include Goldman Sachs (GS), Boeing (BA), and UnitedHealth Group (UNH), which have weights of 7.0%, 5.8%, and 5.6%, respectively.

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