Welcome to our dedicated page for 3M Company news (Ticker: MMM), a resource for investors and traders seeking the latest updates and insights on 3M Company stock.
3M Company (NYSE: MMM), originally known as Minnesota Mining and Manufacturing, is a global conglomerate that has been a pivotal innovator since its inception in 1902. The company excels in leveraging science and technology to create a diverse range of products that impact various sectors. As of the second quarter of 2024, 3M is structured into three core business segments: Safety and Industrial, Transportation and Electronics, and Consumer. With nearly 50% of its revenue generated outside the Americas, 3M's Safety and Industrial segment leads in net sales.
3M is renowned for its robust research and development capabilities, which have led to significant innovations across multiple industries. Its portfolio includes tens of thousands of products such as adhesives, abrasives, laminates, and healthcare solutions, touching numerous consumer and end markets. The company’s recent achievements include the successful spin-off of its healthcare division into a new entity, Solventum, which began trading on the New York Stock Exchange under the ticker symbol 'SOLV' in April 2024. This strategic move is aimed at enhancing both companies' focus on their core businesses and long-term growth strategies.
Financially, 3M has shown resilience with improved operational performance and double-digit adjusted earnings growth in the first quarter of 2024. The company also completed major legal settlements, including a $10.3 billion agreement with U.S. public water suppliers and a $6.0 billion settlement for Combat Arms Earplugs litigation.
In addition to its financial and strategic developments, 3M continues to invest in expanding its manufacturing capabilities. A notable example is the recent $67 million expansion of its Valley, Nebraska, facility, which is expected to create about 40 new jobs and increase production capacity for personal safety products.
3M’s commitment to innovation and safety is also evident in its efforts to combat counterfeit personal protective equipment (PPE). The company launched the 3M™ Verify app to help ensure the authenticity of its disposable respirators, thereby safeguarding workers' health and safety.
As a company that believes in the power of science to create a brighter world, 3M is dedicated to addressing global challenges and improving lives through its innovative solutions.
NEOGEN Corporation (NASDAQ: NEOG) and 3M (NYSE: MMM) announced a transaction to separate 3M's Food Safety business, valued at approximately $5.3 billion, and combine it with NEOGEN. This merger aims to create a leading innovator in food safety, increasing NEOGEN’s revenue from this segment to approximately 70% of total revenue. Pro forma revenues are projected to reach $1 billion in the first full year post-closing, with anticipated synergies of $30 million in EBITDA. The transaction is expected to close by Q3 2022.
3M has announced its participation in the Credit Suisse 9th Annual Virtual Industrials Conference on December 2, 2021, where CEO Mike Roman and CFO Monish Patolawala will speak at 10:10 a.m. EST. This event will be available for live streaming and later as a replay on 3M's Investor Relations website. The company continues to emphasize its commitment to innovative solutions that enhance daily life.
On Nov. 17, 2021, 3M partnered with Mobileye to enhance roadway safety in the U.S. through the 3M™ Roadway Safety Asset Manager. This cloud-based platform aids transportation agencies in managing road assets like signs and barriers, improving maintenance scheduling and data analysis. The collaboration aims to provide up-to-date asset data, enabling efficient project prioritization. With a shared commitment to reduce traffic fatalities, both companies leverage innovative technologies for effective asset management and safety improvements.
The 3M Board of Directors declared a quarterly dividend of $1.48 per share for Q4 2021, payable on Dec. 12, 2021, to shareholders on record by Nov. 19, 2021. This marks over 100 years of uninterrupted dividend payments. As of Sept. 30, 2021, 3M had approximately 576 million shares outstanding.
On Nov. 9, 2021, a survey by 3M highlighted Americans’ heightened concerns about transportation safety as travel resumes. Nearly 47% of respondents plan to travel in the coming months, with over 75% opting for car travel. Alarmingly, 53% expressed worries about roadway safety. The survey found that 35% believe transportation has become more dangerous since the pandemic began. The National Highway Traffic Safety Administration reported a spike in U.S. traffic deaths, confirming public sentiments. 3M emphasizes improving road safety, citing its historical impact on reducing traffic fatalities.
3M (NYSE: MMM) has launched the 3M Xtract™ Cubitron™ II 710W Net Abrasive Disc, revolutionizing sanding with a product that offers twice the life and cut rate while removing up to 97% of dust particles. Available in the US, Canada, and Europe, it will be globally launched in 2022. This innovative product uses Precision-Shaped Grain technology to enhance cutting edges, making it more efficient compared to competitors. The Xtract™ brand aims to improve safety and productivity in sanding applications, presenting a cleaner working environment for users.
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