|Bid||201.34 x 800|
|Ask||201.39 x 800|
|Day's range||200.08 - 201.58|
|52-week range||191.44 - 259.77|
|PE ratio (TTM)||29.79|
|Earnings date||24 Jul 2018|
|Forward dividend & yield||5.44 (2.71%)|
|1y target est||211.64|
On July 9, 3M (MMM) announced that the USDA (U.S. Department of Agriculture) FSIS (Food Safety and Inspection Service) awarded the company with a contract for supplying pathogen detection instruments and kits. The FSIS will use 3M’s Molecular Detection System to detect Salmonella, Listeria monocytogenes, and E.coli O157. These organisms impact the safety of meat, poultry, and egg products.
LANSING, Mich. (AP) — Gov. Rick Snyder said Friday that the state of Michigan intends to sue the Minnesota-based manufacturer of chemicals linked to contaminated water near military bases and industrial sites, citing "significant costs" that will only rise in the future.
3M's (MMM) Molecular Detection System will be used by the U.S. Department of Agriculture Food Safety and Inspection Service for detecting major pathogenic organisms.
The latest data as of May 31 show that 3M’s (MMM) short interest is range-bound in 2018. Its short interest has fallen to 1.3% as of May 31. Although 3M stock has fallen more than 20% from its all-time high of $258, positive sentiment remains.
As of June 26, 3M’s (MMM) one-year forward PE multiple is 18.05x. That compares to Honeywell International’s (HON) PE multiple of 17.2x and Stanley Black & Decker’s (SWK) of 15.0x. A forward PE multiple takes future earnings into consideration.
Currently, 14 analysts are actively tracking 3M (MMM) stock. Analysts’ consensus target price for 3M is $213, which implies a return potential of 8.8% over the closing price on June 25. In the past three months, analysts have cut their consensus target price for 3M from $244.50 to $213, indicating their hawkish view on the stock.
It’s natural that when debt increases, so do interest expenses. 3M’s interest expenses have gone up significantly, from $171 million in 2012 to $322 million in 2017. In the first quarter of 2018, 3M’s interest expense was $82 million.
3M’s (MMM) debt at the end of the first quarter was at an all-time high. Since 2012, its debt has grown significantly, from $6 billion to $15.7 billion at the end of Q1 2018. It has grown at a CAGR (compound annual growth rate) of 20%. Debt includes short-term borrowings, the current portion of long-term debt, and long-term debt.
On June 18, 3M (MMM) announced that it’s an official sponsorer of the PGA. As a result, a PGA Tour event will be held in the Twin Cities in 2019. The seven-year deal by 3M’s nonprofit open fund will bring the top golfers to the Twin Cities. Minnesota will host the PGA Tour for the first time since 2009.
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On June 12, 3M announced the launch of its elastic blend nonwoven tape with improved comfort and breathability. The tape is a thin, water-resistant tape with a 14-day wear time. This product adds to the company’s lineup of advanced adhesives for medical devices.
The size of 3M Company (NYSE:MMM), a US$121.66B large-cap, often attracts investors seeking a reliable investment in the stock market. One reason being its ‘too big to fail’ aura whichRead More...
On June 4, 3M (MMM) announced that it had completed the sale of most of its Communication Markets business to Corning (GLW). MMM entered into a definitive agreement with GLW in December 2017, and the deal was expected to garner $900.0 million for 3M.
On May 29, Honeywell (HON) bagged a new order from Shandong Tianhong Chemical for its C3 Oleflex propane dehydrogenation technology. As part of the deal, HON is set to give Shandong C3 and C4 Oleflex licenses, onsite training, tprocess design packages, and non-proprietary equipment. Once the plant is set up, 25,000 metric tons of polymer-grade propylene could be produced from the facility. This order is HON’s 32nd for Oleflex in China. HON did not disclose financial details of the deal.
3M Company (NYSE:MMM) outperformed the Industrial Conglomerates industry on the basis of its ROE – producing a higher 37.59% relative to the peer average of 11.97% over the past 12Read More...
Stanley Black & Decker’s (SWK) stock has been struggling so far in 2018. On a year-to-date basis, the stock has left investors poorer by 15.1%. Its other industrial peers, Dover (DOV), Illinois Tool Works (ITW) and 3M (MMM) are also in red and have declined by 3.4%, 12.6%, and 15.6% respectively.
The May 15 short interest figures show that Stanley Black & Decker (SWK) has pulled back from highs over the previous report but continues to be on the higher side, indicating that the negative sentiments have gripped the stock and bears appear to have gained the upper hand. As of May 15, SWK’s short interest as a percentage of its outstanding shares was 2.0% compared to 2.3% in the previous report. Although the earnings and revenues beat Wall Street expectations, the downward revision of the GAAP EPS (earnings per share) from $7.80–$8.00 to $7.40–$7.60 didn’t go well with investors.