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3M Company - MMM STOCK NEWS

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.

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3M (NYSE: MMM) has announced its participation in the Morgan Stanley Virtual 9th Annual Laguna Conference set for Monday, Sept. 13, 2021. The company's executive vice president and chief financial officer, Monish Patolawala, will deliver remarks at 8:15 a.m. EDT. This event will be available for live webcast and can be accessed later through 3M's Investor Relations website. For further details, visit http://investors.3M.com.

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On August 16, 2021, 3M (NYSE: MMM) announced its membership in the Water Resilience Coalition (WRC), aiming to address global water scarcity affecting nearly two billion people. CEO Mike Roman stated that 3M will leverage its scientific expertise to promote sustainable water supply solutions. By joining the WRC leadership committee and endorsing the CEO Water Mandate, 3M will enhance its initiatives in water management. The company plans to invest $1 billion over 20 years for environmental improvements, including advanced water purification technologies.

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The 3M Board of Directors declared a dividend of $1.48 per share for Q3 2021, payable on Sept. 12, 2021. Shareholders of record must hold shares by the close of business on Aug. 23, 2021. This decision underscores 3M's commitment to shareholder returns, having paid dividends for over 100 years. As of June 30, 2021, there were 578,638,253 shares outstanding, with 67,133 shareholders of record.

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3M is committed to enhancing science education by offering free access to its Science at Home program, which provides interactive STEM experiments for students aged 6-12. Available online, this initiative aims to inspire young learners and bridge the educational gap, particularly for underrepresented groups. The program includes nearly 30 experiments aligned with the Next Generation Science Standards and features contributions from 3M scientists. Collaborating with Teach For America and Discovery Education, 3M aims to ensure resources reach those in need.

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3M (NYSE: MMM) has announced a strategic partnership with Waystar, a healthcare payments software provider, aiming to enhance revenue capture solutions for its Health Information Systems clients. This collaboration will leverage Waystar’s AI-driven technology to tackle revenue integrity issues that healthcare organizations face, such as operational efficiency and compliance challenges. By integrating predictive analytics and machine learning, the partnership seeks to identify missing charges and overpayments, ultimately streamlining revenue cycle processes for over 6,000 health systems and hospitals.

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On July 29, 2021, 3M (NYSE: MMM) announced its participation in the Jefferies Virtual Industrials Conference scheduled for August 4, 2021. Monish Patolawala, the executive vice president and chief financial officer, will present at 11:30 a.m. EDT. The event will be streamed live and will be available for replay on 3M's Investor Relations website. Interested investors can access the live stream through the provided link.

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3M (NYSE: MMM) is enhancing its environmental initiatives by investing in TPG Rise Climate, a climate impact fund with a focus on clean energy and sustainable solutions. This investment is part of 3M’s commitment to achieve carbon neutrality by 2050, reduce water use by 25%, and minimize reliance on virgin fossil-based plastics. The company plans to allocate approximately $1 billion over 20 years towards these goals. This move enhances 3M's long-standing dedication to sustainability and innovation in addressing climate change challenges.

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3M reported strong second-quarter results on July 27, 2021, with sales of $8.9 billion, up 24.7% year-on-year. All business groups and geographic areas experienced organic growth, with notable increases in Transportation and Electronics (28.1%), Health Care (24.9%), Safety and Industrial (22.4%), and Consumer (20.4%). GAAP earnings per share reached $2.59, a 15% increase. For the full year, 3M expects sales growth of 7-10% and earnings between $9.70 and $10.10 per share, revising prior forecasts upward. Additionally, the company returned $1.4 billion to shareholders.

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3M (NYSE: MMM) has scheduled its second-quarter 2021 earnings conference call for Tuesday, July 27, 2021, at 8 a.m. CDT. Investors can participate via telephone at (800) 762-2596 in the U.S. or +1 (212) 231-2916 internationally. The earnings call will be accessible online with a replay available on 3M's Investor Relations website. For further information, potential investors and media can contact Bruce Jermeland at (651) 733-1807.

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3M Oral Care has launched the Clarity Aligners Flex + Force, a customizable aligner system designed for orthodontists. This innovative solution combines two unique materials within a single treatment plan, enhancing patient comfort through a fit that is discreet and effective. The aligners integrate with the 3M Oral Care Portal, supporting advanced treatment designs for varying orthodontic needs. With a proprietary five-layer construction, the aligners offer durability, stain resistance, and flexibility, reaffirming 3M's commitment to delivering cutting-edge solutions.

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FAQ

What is the current stock price of 3M Company (MMM)?

The current stock price of 3M Company (MMM) is $129.28 as of December 20, 2024.

What is the market cap of 3M Company (MMM)?

The market cap of 3M Company (MMM) is approximately 69.2B.

What are the core business segments of 3M?

3M operates through three main business segments: Safety and Industrial, Transportation and Electronics, and Consumer.

What recent strategic changes has 3M made?

3M recently completed the spin-off of its healthcare division into a new company named Solventum, which began trading on the NYSE under the ticker symbol 'SOLV'.

How did 3M perform financially in the first quarter of 2024?

3M delivered strong financial performance in the first quarter of 2024, achieving double-digit adjusted earnings growth and better-than-expected results.

What legal settlements has 3M recently completed?

3M finalized a $10.3 billion settlement with U.S. public water suppliers and a $6.0 billion settlement related to Combat Arms Earplugs litigation.

What is the focus of 3M’s Safety and Industrial segment?

The Safety and Industrial segment is focused on products like adhesives, abrasives, and personal protective equipment (PPE), which lead the company's net sales.

How is 3M combating counterfeit PPE products?

3M has introduced the 3M™ Verify app to help validate the authenticity of its disposable respirators, ensuring worker safety.

What investment has 3M made in its Valley, Nebraska facility?

3M invested $67 million to expand its Valley, Nebraska facility, increasing production capacity and creating about 40 new jobs.

What percentage of 3M’s revenue comes from outside the Americas?

Nearly 50% of 3M's revenue is generated from markets outside the Americas.

What are some of the products developed by 3M?

3M develops a wide range of products, including adhesives, abrasives, laminates, healthcare solutions, and personal protective equipment.

What is 3M's commitment to innovation?

3M is dedicated to leveraging science and technology to create innovative solutions that improve lives and address global challenges.

3M Company

NYSE:MMM

MMM Rankings

MMM Stock Data

69.24B
543.85M
0.12%
68.39%
1.22%
Conglomerates
Surgical & Medical Instruments & Apparatus
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United States of America
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