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.
The 3M Board of Directors declared a quarterly dividend of $1.48 per share for Q2 2021, payable on June 12, 2021, to shareholders of record by May 21, 2021. This marks over 100 years of uninterrupted dividend payments to its shareholders. As of March 31, 2021, 3M had approximately 579.7 million common shares outstanding and 67,849 shareholders of record.
3M (NYSE: MMM) announced two upcoming investor events. The first is the Goldman Sachs Industrials & Materials Conference on May 13, 2021, where CFO Monish Patolawala will speak at 8:50 a.m. EDT. The second event is the Wolfe Research Global Transportation & Industrials Conference on May 26, 2021, with Patolawala presenting at 10:20 a.m. EDT. Both events will be webcast live and available for replay on 3M's Investor Relations website.
3M (NYSE: MMM) reported strong first-quarter 2021 results, with sales increasing by 9.6% year-on-year to $8.9 billion. The company achieved a 23% increase in GAAP earnings per share, reaching $2.77. Growth was observed across all business segments, particularly in Safety and Industrial, which saw a 13.7% sales increase. Additionally, 3M generated $1.7 billion in operating cash flow and returned $1.1 billion to shareholders. The company remains committed to ambitious sustainability goals, including achieving carbon neutrality by 2050.
3M has won a legal case against MA MicroGrind GmbH for infringing on its German Utility Model and European Patent regarding precision grinding technology. The Mannheim District Court ordered MicroGrind to cease manufacturing and selling the infringing grinding wheels and to compensate 3M for economic losses. The ruling, issued on March 5, 2021, is not final as MicroGrind can appeal. 3M emphasizes its commitment to protecting its intellectual property in abrasive technology.
3M has launched a new Brainstorming Session feature on its Post-it® App, enhancing virtual collaboration. This feature allows users to create a shareable digital canvas where physical and digital Post-it® Notes can be uploaded, arranged, and organized in real-time. The app is designed to mimic in-person collaboration, promoting seamless idea exchanges. Users can digitize notes of various sizes and utilize handwriting-to-text conversion. The app is available for free on multiple platforms, including Android, iOS, and macOS.
3M (NYSE:MMM) announced a sustainability goal on Earth Day, aiming to reduce its reliance on new plastic made from petroleum by 125 million pounds by 2025. This initiative focuses on innovation in product and packaging design, utilizing recycled materials, and bio-based plastics. The Scotch-Brite® Greener Clean Non-Scratch Scrubber exemplifies these efforts, made with 75% post-consumer recycled plastic. The company emphasizes the importance of transitioning toward a circular economy, collaborating with various stakeholders to drive sustainable practices.
3M Food Safety has secured a contract from the U.S. Department of Agriculture Food Safety and Inspection Service to use its 3M™ Molecular Detection System for detecting Campylobacter in poultry. This makes the 3M system the primary detection method for Campylobacter, complementing its previously established role for Salmonella and Listeria monocytogenes. The system allows for efficient testing, enabling up to 96 tests in a single run, thus enhancing food safety standards in poultry processing.
3M, in partnership with the University of Texas at Austin and Nobel Prize Outreach, announced the Nobel Prize Inspiration Initiative (NPII) virtual event on April 21-22, 2021, aimed at inspiring future innovators. This free event will feature three Nobel Laureates: Elizabeth Blackburn, Andrew Fire, and Robert Grubbs, and is open to the public, including students from the Austin Independent School District. The initiative, which has been ongoing since 2016, emphasizes the importance of science in addressing global challenges and enhancing educational opportunities for students.
3M (NYSE: MMM) announced an investor event scheduled for April 27, 2021, at 8 a.m. CDT. This event will feature the first-quarter 2021 earnings conference call, accessible via 800-762-2596 in the U.S. and +1-212-231-2916 internationally. A live webcast will be available, with a replay on 3M's Investor Relations website. For more information on 3M's innovative solutions, visit www.3M.com.
3M has launched the 2484 Hi-Tack Silicone Adhesive, designed for medical devices catering to individuals with fragile skin, such as the elderly and patients with chronic diseases. This adhesive is breathable, conforms well, and allows for a wear time of up to seven days while minimizing skin cell removal. It is the second product in the Hi-Tack Silicone Adhesive Portfolio, following the introduction of the 2480 adhesive. This launch highlights 3M's commitment to enhancing patient safety and device reliability in the medical sector.
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