3M Company (MMM)

NYSE - NYSE Delayed Price. Currency in USD

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110.50

-1.80

(-1.60%)

At close: 04:03PM EDT

110.60

+0.10

(+0.09%)

After hours:

07:59PM EDT

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c
I got out on Friday. I hated to sell. I really did, but I needed to use the $, while there was still some left.
Most stocks are losing value. It isn't 3M only.
GL to everyone. Hope the coming winter is better than I expect.
L
Apparently, enough progress was made during the last mediation session (9/15-9/16) that another session was ordered to start by 10/3. Hoping for about $4-8B settlement. If on lower end of this range, 3M share price will start going up.
R
The cost to borrow money in the corporate world is soaring. If 3M has to refinance its debt at 10%, it is looking at $1.7B in debt payments. At 20%, $3.4B. Not sure when all the debt is due, but it ain’t gonna be at yesterday’s low interest, unless the Fed pivots and says “dam the torpedoes, to hull with inflation”. “Let them use their wheelbarrows.”

3M earns about $4B a year. That number could be cut in two in the next year or so. That’s when things can get real dicey.
B
MMM is trading at 10x forward earnings....in last 50 years it has traded at 9x once in 1980 when rates moved to 20%...... That is not today. 5% yield today, street projecting $12.00 future earnings..... for decades mutiple has been in high teens...
c
My understanding is that Military Personnel were ordered by The Military to use 3M earplugs and they were allowed NO other options ( including their own ear protection of choice). Wouldn't this make The Military ultimately and definitively liable? 3M did not and does not issue orders of any kind, much less the mandatory use of their products, to Military Personnel. So, am I wrong here? This seems obvious. Did the Military disallow any options?
J
Taking 8000 employees out did nothing. What next? May I suggest getting rid of the top brass, dumping the woke agenda, contracting with the best lawyers in the world (not the cheapest), emboldening risk taking innovators instead of incrementalism, simplify peoples job and focus on growth
J
Painful stuff. I made the bet and was wrong so far. Cost basis now $148.86, catching the falling knife to the tune of 20k. I am sure others are far worse off and had more dollars invested. I will hold the line and wipe my tears with the dividend payments. The 82% div payout ratio is concerning though. I like to see 75% or less on payout to feel comfortable. Good luck to us all!
L
The 3M CAE2 mediation has started. Anybody know how to get daily updates?
L
No settlement with plaintiifs' lawyers. I am almost certain 3M is waiting for outcome of appeal of J&J's case that starts later this week. If ruling favors J&J, you will see 3M go up by a significant amount. If ruling goes against J&J, I would imagine a settlement end of 2023.
S
MMM trading $18 below its 200 MONTHLY moving avg is a buy signal
R
Boy, they sure are doing a great job painting the tape this morning. Let’s see if it lasts throughout the day.
G
What do you guys think of 3M?
L
My thoughts about 3M ...

The Healthcare spinoff will be 3-3.5X EBITDA, which by the end of 2023 should result in roughly $28B-32B. 3M will retain 19.9% of spinco, with the rest going to shareholders. This means 3M will net roughly $6B from this spinoff.

Given this spinoff will not occur until end of 2023, 3M will drag the CAE2 litigation settlement out to end of '23 or early '24 so that the company has the necessary funds to pay claimants. The hope is that litigation settlements will be < $6B.

Given the reduction in outstanding 3M shares after the healthcare spinoff, 3M should be able to maintain current EPS and dividend levels. While this means that 3M will be a smaller (roughly $27B revenue) company, it will only have the PFAS litigation remaining (which have mostly been settled).

So, by Q2 2024, 3M stock should once again be on a steady growth path. Just my 2 cents.
C
Mediation meeting between plaintiff and 3m was ordered to take place today. I don't know if they will announce anything any time soon regardless, but this stock could get quite volatile pretty soon
K
Home Depot, Lowes, & Ace Hardware have wall to wall MMM products. CVS & Walgreens also have a number of MMM products. I recently noted that MMM is considered a “ defense” stock. Your doctor’s stethoscope, your dentist,etc. have MMM products. Like JnJ with the talcum powder debacle, MMM will deal and move on !
J
More headcount reductions, reversing Advance 3M, stock continues to plummet. How about Roman and Monish be held accountable for this debacle.
e
Not worth the risk. Best case scenario is years to get back to $200 where they were at peak. Thats 90% and a lot of risks. Likely down another 20% by end of the year. This is the LARGEST CLASS ACTION LAWSUIT IN US HISTORY. And that is saying a lot for a country that sues more than any others. Stay away kids, its a yield trap. It could drop 5% in a day on bad news and there goes your whole year of dividends
C
I know most people on this thread are just trying to invest in their futures. It's unfortunate that vets are pitted against anyone at home.
C
3M may be in hot water if their chief legal affairs officer is still touting a bankruptcy strategy that no legal team or financial analyst agrees with whether in pricing or principle. This delusory thinking is characteristic of a company that is really planning for its top few execs, not its employees, investors, or the general public.
G
18% short interest. Wall Street betting on collapse of cash flows due to legal issues and management being ineffective and powerless to stem the tide. Who is right and who is wrong here?
Neutral