MMM Stock – What Investors Should Know About 3M Co.
3M (MMM Stock) Business Segments
- Safety and Industrial – This segment consists of personal safety, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarkets, and roofing granules.
- Transportation and Electronics – This segment includes electronics, automotive and aerospace, commercial solutions, advanced materials, display materials and systems, electronic materials solutions, and transportation safety.
- Health Care – This segment offers medical and surgical supplies, skin health and infection prevention products, oral care solutions, separation and purification sciences, health information systems, inhalation and transdermal drug delivery systems, and food safety products.
- Consumer – This segment covers consumer healthcare, home care, home improvement, and stationery and office products, such as consumer bandages, braces, supports, respirators, cleaning products, retail abrasives, picture hanging, and consumer air quality solutions.
- Corporate and Unallocated – This segment refers to special items and other corporate expenses.
MMM Stock: Annual Reports – Financials – SEC Filings
3m Co – MMM stock ticker is incorporated in the state of Delaware. 3m Co is primarily in the business of surgical & medical instruments & apparatus. For financial reporting, their fiscal year ends on December 31st. This page includes all SEC registration details as well as a list of all documents (S-1, Prospectus, Current Reports, 8-K, 10K, Annual Reports) filed by 3m Co.
3M is a multinational conglomerate that was founded in 1902 as Minnesota Mining and Manufacturing. The company is well-known for its research and development laboratory. 3M applies science and technology to a wide range of product categories. The company is divided into four business segments as of 2019: safety and industrial, transportation and electronics, healthcare, and consumer. Approximately 60% of the company’s revenue comes from outside the United States. The safety and industrial segments account for the majority of net sales. Many of the company’s 55,000-plus products are relevant to and concern a wide range of consumers and commercial end markets.
MMM Stock Dividend
MMM Stock is a Dividend King. Dividend Kings are an elite group of companies in the S&P 500 that have increased their dividend payments for at least 50 years. 3M’s dividend has a yield of 4.33%, a payout ratio a bit below 60%, and a 5-year growth rate of 5.38%. 3M has paid dividends to its shareholders without interruption for more than 100 years and increased the annual dividend for 64 consecutive years.
3M Board Declares Quarterly Dividend (November 2022)
The 3M Board of Directors (NYSE: MMM stock ticker)) declared a dividend on the company’s common stock of $1.49 per share for the fourth quarter of 2022. The dividend is payable on Dec. 12, 2022, to shareholders of record at the close of business on Nov. 18, 2022. 3M has paid dividends to its shareholders without interruption for more than 100 years. As of Sept. 30, 2022, 3M had 552,742,915 common shares outstanding and 63,282 shareholders of record. (Source: investors.3m.com)
MMM Stock Forecast
The Price to Earnings Ratio, or PE for short, is a key metric that value investors should always look to. This ratio shows how much investors are willing to pay for each dollar of earnings in a given stock. The best way to use the PE ratio is to compare it to where it has been in the past. Next, how does it compare to the industry or sector average? Finally, how does it compare to the market as a whole? 3M currently has a trailing twelve-month PE ratio of 11.01.
This level actually compares favorably to the market as a whole, as the S&P 500’s PE is around 16.65. Looking at the long-term PE trend, 3M’s current PE level is below its five-year midpoint (which is 19.25). Furthermore, the current level is well below the stock’s highs, implying that it could be a good entry point.
3M (MMM Stock) Forecasts
- Based on 17 analysts – offering 12-month price forecasts for 3M Co. A median target of 125.00, with a high estimate of 172.00 and a low estimate of 110.00. The median estimate represents a -2.37% decrease from the last price of 128.04. The current consensus among 21 polled investment analysts is to hold stock in 3M Co. This rating has held steady since November 2022, when it was unchanged from a rating. (Source: money.cnn.com)
- Based on 13 Wall Street analysts offering 12-month price targets for 3M in the last 3 months. The average price target is $124.69 with a high forecast of $140.00 and a low forecast of $110.00. The average price target represents a -2.59% change from the last price of $128.00. (Source: tipranks.com)
- Analysts expect MMM’s EPS for the quarter ending Sept. 30, 2022, to increase 13.9% year-over-year to $2.79. Its revenue for its fiscal year 2023 is expected to increase by 3.3% year-over-year to $37.07 billion. It surpassed the Street’s EPS estimates in each of the trailing four quarters. Its EPS is expected to increase by 6.5% per annum over the next five years. (Source: entrepreneur.com)
Is MMM Stock a Buy?
- Valuation metrics show that 3M Company may be undervalued. Its Value Score of B indicates it would be a good pick for value investors. The financial health and growth prospects of MMM, demonstrate its potential to outperform the market. It currently has a Growth Score of D. (Source: zacks.com)
- As of November 18, 2022, 3M, Co. had a $70.3 billion market capitalization, putting it in the 98th percentile of companies in the Consumer Goods Conglomerates industry. Currently, 3M Co’s price-earnings ratio is 11.0. 3M Co’s trailing 12-month revenue is $34.8 billion with an 18.9% profit margin. (Source: aaii.com)
- The bear case for 3M would argue that there is much more pain ahead. The bull case is that this is a diversified company that generates a lot of free cash flow and has a 4.8% dividend yield. There’s nothing wrong with waiting to let the legal dispute play out before hitting the buy button. But with the stock at a nine-year low, investors are getting a good price for this 120-year-old company. (Source: fool.com)
MMM Stock News
California sues 3M, DuPont over toxic ‘forever chemicals’ (November 2022)
The state of California’s attorney general filed a lawsuit against 3M Co (MMM stock), DuPont de Nemours and Company (DD stock), and several other corporations. The suit aims to recoup “staggering” clean-up costs from toxic pollutants known as “forever chemicals.” The lawsuit, according to Attorney General Rob Bonta, is the result of a multiyear inquiry. The investigation discovered the companies marketed products containing polyfluoroalkyl and perfluoroalkyl substances (PFAS) for decades. This is despite knowing they cause cancer, developmental defects, and other health problems. According to Bonta, the lawsuit could eventually seek hundreds of millions of dollars in penalties and costs.
According to 3M spokesperson Carolyn LaViolette, the company “acted responsibly in connection with PFAS-containing products and will defend its record of environmental stewardship.” Because of how long the substances remain in the human body and environment, they are known as forever chemicals. Since the 1950s, they have been mass-produced and used in products such as firefighting foams, nonstick pans, and personal care items. Bonta claimed the defendants caused a public nuisance and demanded they pay to clean up PFAS. The suit claims PFAS is found in drinking water, rivers, lakes, wildlife, and the bloodstreams of 98% of California’s 39 million people.
Chevron Corp. (CVX stock) provides administrative, financial management, logistics, and technology support for energy and chemical operations through upstream and downstream business segments. Chevron Corporation manages its investments directly, and through subsidiaries and affiliates. Moreover, the company provides administrative, financial, management, and technological support to US and international subsidiaries engaged in integrated energy and chemicals operations. The company was founded in 1906 and is headquartered in San Ramon, CA.
Chevron is a globally integrated energy company with operations in exploration, production, and refining. It is the United States’ second-largest oil company, producing 3.2 million barrels of oil equivalent per day. This includes 7.6 million cubic feet of natural gas and 2.0 million barrels of liquids per day. North America, South America, Europe, Africa, Asia, and Australia all have manufacturing operations. The company has refineries in the United States, South Africa, and Asia, and its total refining capacity exceeds 3 million barrels of oil per day. At the end of 2021, Chevron reported proven reserves totaling 12.4 billion barrels of oil equivalent. This includes 6.5 billion barrels of liquids and 29.5 trillion cubic feet of natural gas.