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.
3M (NYSE: MMM) has introduced the 3M™ Clean & Protect Certified Badge Program to assist businesses in reopening safely post-pandemic. The program offers comprehensive cleaning, monitoring, and training solutions aimed at enhancing facility safety. Key components include a variety of cleaning and disinfection solutions, real-time cleaning verification with the 3M Clean-Trace™ ATP Monitoring System, specialized training from the 3M Cleaning Academy, and customizable social distancing graphics. This initiative reflects a proactive approach to instilling confidence in public spaces as businesses resume operations.
3M (NYSE: MMM) announced a $1 billion investment over 20 years to meet environmental goals, including achieving carbon neutrality by 2050 and reducing water use by 25%. The company aims for a 50% reduction in carbon emissions by 2030 and plans to enhance water quality through state-of-the-art purification technologies. CEO Mike Roman emphasized improving operations and driving growth through these initiatives. The commitments align with 3M's long-standing dedication to sustainability and leadership in environmental stewardship.
On February 9, 2021, 3M (NYSE: MMM) announced its participation in two upcoming investor events. The first is the Barclays Industrial Select Conference 2021 on February 17, 2021, featuring CEO Mike Roman and CFO Monish Patolawala at 11:30 a.m. EST. The second event is the Citi 2021 Global Industrials Conference on February 18, 2021, where they will present at 10:30 a.m. EST. Both events will be available via live webcast and on the Investor Relations section of 3M's website.
3M Health Care unveiled the 3M™ Polisher™ ST on Feb. 9, 2021, a single-use AEX solution aimed at enhancing biologic drug manufacturing. This innovative product reduces processing steps, improving economic efficiency. The Polisher ST features dual AEX-functional media designed for turbidity, DNA, and endotoxin reduction, and is engineered for continuous bioprocessing. It is a compact, cost-effective solution that supports higher purity and yield. Production capsules will be available later, signaling 3M's commitment to advancing biopharmaceutical manufacturing technology.
The 3M Board of Directors declared a $1.48 dividend per share for Q1 2021, a 1% increase over the previous year. This dividend will be paid on March 12, 2021, to shareholders on record as of February 12, 2021. Notably, this is the 63rd consecutive year of dividend increases and follows over 100 years of uninterrupted dividend payments. As of December 31, 2020, 3M had 577,749,638 shares outstanding and 68,843 shareholders of record.
3M has appointed Jim Fitterling, CEO of Dow, Inc., to its Board of Directors, effective February 5, 2021. The board's size has increased to 12 members to accommodate this addition. Fitterling brings 35 years of experience in materials science, emphasizing sustainable innovation and corporate responsibility. His leadership at Dow has focused on transforming the company towards higher-growth sectors and addressing sustainability challenges. 3M's chairman, Mike Roman, expressed confidence that Fitterling's insights will enhance 3M's strategic direction.
3M reported strong fourth-quarter and full-year 2020 results, achieving a 5.8% increase in sales to $8.6 billion and a 43.4% rise in GAAP earnings per share to $2.38. Despite COVID-19 challenges, organic sales grew across all business groups, with notable demand in personal safety and home improvement. The company generated $2.5 billion in operating cash flow and reduced debt by $0.8 billion. For 2021, 3M expects earnings of $9.20 to $9.70 per share and total sales growth of 5% to 8%.
3M Food Safety has unveiled the 3M™ Petrifilm™ Plate Reader Advanced, a cutting-edge technology designed for food safety professionals. This device automates the counting of microbiological colonies on 3M Petrifilm Plates, enhancing productivity by processing up to 900 plates per hour and delivering results in 4-6 seconds. The introduction aims to help food labs optimize operations amidst increased demands due to COVID-19. Notably, a study showed a 94% reduction in time for enumeration. This marks 3M's second automation product in two years to assist food and beverage manufacturers.
3M announced an upcoming fourth-quarter 2020 earnings conference call scheduled for January 26, 2021, at 8 a.m. CST. Investors can join the call by dialing (800) 762-2596 in the U.S. or +1 (212) 231-2916 internationally. The event will be available via webcast and a replay can be accessed on 3M's Investor Relations website. For more information, visit 3M's Investor Relations.
FAQ
What is the current stock price of 3M Company (MMM)?
What is the market cap of 3M Company (MMM)?
What are the core business segments of 3M?
What recent strategic changes has 3M made?
How did 3M perform financially in the first quarter of 2024?
What legal settlements has 3M recently completed?
What is the focus of 3M’s Safety and Industrial segment?
How is 3M combating counterfeit PPE products?
What investment has 3M made in its Valley, Nebraska facility?
What percentage of 3M’s revenue comes from outside the Americas?
What are some of the products developed by 3M?
What is 3M's commitment to innovation?
