First off: this is a trend analysis, not fundamental analysis, and it's just my particular method of looking for extreme dip buys. I screen on fundamentals before I run any of these numbers on a company.
10-year trendlines: MMM is currently below both its linear and exponential 10-year growth curves by a significant amount. 2 standard deviations below would be a price target around 136 (currently about 5% above). Its current downward deviation from trend is the 2nd largest in the past 10 years (the largest being the COVID crash).
PE ratio: Its current PE ratio of 14.17 is the lowest it's been in 10 years, with a mode (nearest integer round) of 17 and mean of 21. 2 standard deviations below mean is a PE of 14, so this basically puts it at the PE price target.
200-weekly MA Deviation: Currently at around -20% deviation from its 200 weekly. This is the 2nd largest downward deviation in 10 years (again, the largest being the COVID crash). Again, at/below target.
Miscellaneous considerations: Revenue is relatively consistent over time.. EPS also relatively consistent.. And since “safe” stocks with a solid dividend yield seem to be the current vogue (outside of energy, commodities, and defense), it has a 4.16% dividend yield with a solid history of increasing dividends..
I'll admit the chart looks terrible, and the current general market environment doesn't look great, but in the past 10 years, the only better time to buy was the COVID crash.
I went in a tad early at $148.70 with a 2% starting position.
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