167.00 -0.41 (-0.24%)
After hours: 7:32PM EDT
|Bid||166.60 x 900|
|Ask||167.47 x 800|
|Day's Range||165.00 - 168.35|
|52 Week Range||114.04 - 187.72|
|Beta (5Y Monthly)||1.10|
|PE Ratio (TTM)||19.85|
|Earnings Date||Jul 28, 2020|
|Forward Dividend & Yield||5.88 (3.62%)|
|Ex-Dividend Date||May 21, 2020|
|1y Target Est||153.73|
Looking into the current session, 3M Inc. (NYSE: MMM) shares are trading at $166.87, after a 2.65% increase. Moreover, over the past month, the stock went up by 12.36%, but in the past year, fell by 0.85%. Shareholders might be interested in knowing whether the stock is undervalued, even if the company is performing up to par in the current session.The stock is currently higher from its 52 week low by 46.32%. Assuming that all other factors are held constant, this could present itself as an opportunity for investors trying to diversify their portfolio with Specialty Industrial Machinery stocks, and capitalize on the lower share price observed over the year.The P/E ratio is used by long-term shareholders to assess the company's market performance against aggregate market data, historical earnings, and the industry at large. A lower P/E indicates that shareholders do not expect the stock to perform better in the future, and that the company is probably undervalued. It shows that shareholders are less than willing to pay a high share price, because they do not expect the company to exhibit growth, in terms of future earnings.Depending on the particular phase of a business cycle, some industries will perform better than others.Compared to the aggregate P/E ratio of the 25.06 in the Specialty Industrial Machinery industry, 3M Inc. has a lower P/E ratio of 19.08. Shareholders might be inclined to think that they might perform worse than its industry peers. It's also possible that the stock is undervalued.P/E ratio is not always a great indicator of the company's performance. Depending on the earnings makeup of a company, investors may not be able to attain key insights from trailing earnings.See more from Benzinga * Price Over Earnings Overview: Procter & Gamble * A Look Into Mastercard's Price Over Earnings * Stocks That Hit 52-Week Lows On Friday(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The Dow Jones Industrial Average - that group of 30 blue-chip behemoths with long track records of outperformance - is trailing the other major indexes by a wide margin this year.But the Dow's 30 stocks are starting to catch up.The DJIA is down nearly 10% year-to-date. That compares unfavorably with the S&P; 500's drop of less than 5%, to say nothing of the Nasdaq Composite's rise of more than 7%. Since the market's bottom in March, however, it's essentially a three-way tie. The Dow, S&P; 500 and Nasdaq are all up about 40%.If you want to ride the coattails of the Dow's accelerating revival, just remember that not all Dow stocks are created equal. Each index component has a solid pedigree. However, their short- to intermediate-term prospects diverge widely.If you want to pick and choose among the bluest of blue chips, you can look at this full list of 30 Dow stocks that we've sorted by analysts' average recommendation. Here's how it works: S&P; Global Market Intelligence surveys analysts' stock calls and scores them on a five-point scale, where 1.0 equals a Strong Buy and 5.0 is a Strong Sell. Scores between 3.5 and 2.5 translate into a Hold recommendation. Any score lower than 2.5 means that analysts, on average, rate the stock as being Buy-worthy. The closer a score gets to 1.0, the better.Read on as we show you how Wall Street's analysts rate all 30 Dow stocks right now - and what they have to say about them. SEE ALSO: 20 Best Stocks to Buy Now for the Next Bull Market
3M Co. said Wednesday that Chief Financial Officer Nick Gangestad has announced his intention to retire after about 6 years in the role, and 33 years with the company. The diversified consumer and industrial products company, which products include N95 respirators, Scotch tape and Post-it notes, said it has named Monish Patolawala as its new CFO, effective July 1. Patolawala is currently at General Electric Co.'s GE Healthcare, where he has served as CFO. Gangestad will remain with the company until July 31 to ensure an orderly transition. 3M's stock, which ticked up 0.4% in premarket trading, has gained 8.5% over the past three months, while the Dow Jones Industrial Average has slipped 0.7%.
3M (NYSE:MMM) announced today that Monish Patolawala is appointed senior vice president and chief financial officer, effective July 1, 2020. Patolawala will succeed Nick Gangestad, who has announced his intention to retire. Gangestad will stay on through July 31, 2020, to ensure an orderly transition.
3M's (NYSE: MMM) chief executive officer Mike Roman gave a presentation at a Bernstein investment conference at the end of May and what he had to say helped confirm 3M's status as one of the most interesting investment opportunities in the industrial sector. It's not that the company's operational performance has been great over the last few years, or that its end markets overall aren't being hit by the COVID-19 pandemic. Instead, the case for buying 3M stock is based on the idea that Roman can significantly improve performance in a company that is now valued lower than its peers.
Secretary of State Mike Pompeo declared Hong Kong to be no longer autonomous from China Wednesday, a move that further increases U.S.-China tensions and could pave the way for changes to U.S. policy toward Hong Kong that could have massive ramifications for the Hong Kong, Chinese and American economies.
The financial regulations require hedge funds and wealthy investors that exceeded the $100 million equity holdings threshold to file a report that shows their positions at the end of every quarter. Even though it isn't the intention, these filings to a certain extent level the playing field for ordinary investors. The latest round of 13F […]
When it comes to where millionaires live in America, the rich keep getting richer.Market research firm Phoenix Marketing International notes that although the total number of millionaire households rose for the 11th straight year in 2019, the gains were disproportionately seen in states that already had more than their fair share of millionaires."While the total number of high-net-worth households grew, these increases were largely seen in the wealthiest states, reinforcing the broader ongoing wealth-gap issues the country faces," says Carl Uttaro, VP of financial services research at Phoenix MI. How Many Millionaires Are in the U.S.?Phoenix MI is tracking the effects of the coronavirus pandemic, which could make for a very different landscape going forward. But last year, at least, the good times continued to roll. Indeed, a record 6.71% (or 8,386,508 out of 125,018,808 total U.S. households) can now claim millionaire status. That's up from 6.21% in 2018 and just 5.81% in 2017.Note well that to be considered a millionaire by the standards of wealth research, a household must have investable assets of $1 million or more, excluding the value of real estate, employer-sponsored retirement plans and business partnerships, among other select assets.Although California and New York have a great deal of millionaires in terms of raw numbers, they don't have the highest concentrations of rich households. It turns out there are numerous states with higher percentages of well-off households, several of which probably will surprise you.And don't forget that between living costs and taxes, a million dollars goes much further in some states than others.Here's a look at the millionaire rankings for all 50 states (plus the District of Columbia), based on the percentage of millionaire households in each. Just for good measure, we're also providing important tax and cost-of-living information. SEE ALSO: The Berkshire Hathaway Portfolio: Latest Buffett Stock Rankings
A New Jersey used car dealer was criminally charged on Tuesday with exploiting the coronavirus pandemic by trying to defraud and price gouge New York City into buying N95 respirator masks he was not authorized to sell, in a roughly $45 million scheme. The U.S. Department of Justice said Ronald Romano, 58, sought quick riches in late March when his Performance Supply LLC tried to sell 7 million of the 3M-branded masks to New York City's Office of Citywide Procurement for about 500% above the typical list price. Prosecutors said the Manalapan, New Jersey, resident created a bogus letter falsely showing that 3M Co authorized the sale.
Ontario Teachers’ Pension Plan bought Microsoft, Alibaba, and 3M stock in the first quarter. It sold nearly all its Amazon stock.
(Bloomberg Opinion) -- After a prolonged shutdown, Ford Motor Co. officially resumed production at its North American factories this week. It hasn’t been as smooth a process as the company might have hoped: Ford had to temporarily close two critical facilities this week to allow for a deep cleaning after workers tested positive for the coronavirus. An Explorer SUV plant in Chicago was closed a second time after an employee at a nearby supplier facility tested positive for the virus, causing a parts shortage.This is the reality of manufacturing for the time being as companies fret about worker safety and the legal and reputational risks of not doing enough to protect employees. Unlike Ford, whose products fall into a category of consumer spending that’s become even more discretionary amid the pandemic, wide swaths of the industrial sector were deemed essential and allowed to remain operational. Those companies, too, have had their share of growing pains as they adjust to a new way of working.Boeing Co. temporarily closed its factories in the Puget Sound area in March after a worker died of the coronavirus and later briefly shuttered work at its 787 plant in South Carolina. CBS Minnesota reported earlier this month that a Honeywell International Inc. facility in Minneapolis had closed after a worker tested positive. Whirlpool Corp. closed its Amana, Iowa, refrigerator plant at least twice after employees tested positive for the virus, according to the Gazette local paper. Deere & Co. and Altria Group Inc.’s Philip Morris USA are among the many others that have had to close plants on a limited basis to avoid outbreaks among workers. Lockheed Martin Corp., meanwhile, said this week it will temporarily slow production of the F-35 fighter jet because of delays at suppliers. It’s a lot harder, though, to bring factories back to life than it is to just figure it out as you go along. Ford may be a manufacturer, but because it’s one of the few to have experienced an extended lockdown, it’s arguably a better benchmark for the non-industrial economy. You better believe that office-based companies that have sent most of their workers home are keeping a close eye on how the likes of Ford fare in flipping the switch back on. Seeing the automaker’s setbacks this week, companies that can operate without their employees clustered in the same place may be less keen to rush back. They’re getting a more continuous stream of work out of their employees now than they would if they had to hit the pause button and clear out the office every few weeks. And the mixed messages from the White House aren't helpful: President Donald Trump is due to visit a Ford factory in Michigan that’s been converted to ventilator production and has been wishy-washy on whether he will adhere to the company’s face-mask requirements. Already, American Express Co. CEO Steve Squeri and Visa Inc. CEO Al Kelly said this week that most of their employees would work from home for the rest of the year. Some 28% of employers recently surveyed by Challenger, Gray & Christmas said they would make work-from-home arrangements permanent for at least some employees. Cryptocurrency exchange Coinbase and social media site Twitter Inc. are among those who have publicly said remote working will be their indefinite default option. Facebook Inc. said Thursday it would follow suit and move to a more permanent remote workforce.At the end of the day, manufacturing or non-manufacturing, it's all interconnected. How permanent this shift to work from home will be is debatable, but if companies end up needing less office space, by default that means fewer HVAC systems, commercial lighting, fire and security products or even 3M Co.’s Post-it notes. And if workers aren’t going to be commuting, do they still need to buy cars from Ford? There's a lot riding on getting reopening right. This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Brooke Sutherland is a Bloomberg Opinion columnist covering deals and industrial companies. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
DOW UPDATE Shares of Walt Disney and Exxon Mobil are trading lower Thursday morning, sending the Dow Jones Industrial Average into negative territory. Shares of Walt Disney (DIS) and Exxon Mobil (XOM) have contributed to the index's intraday decline, as the Dow (DJIA) was most recently trading 68 points (0.
DOW UPDATE The Dow Jones Industrial Average is falling Thursday morning with shares of Walt Disney and 3M facing the biggest setback for the price-weighted average. The Dow (DJIA) was most recently trading 6 points (0.
Head of Macro Strategy at Academy Securities Peter Tchir joins Yahoo Finance’s Seana Smith to break down his outlook on the markets as coronavirus cases surpass 1.5M in the U.S., according to John Hopkins.
Stocks rallied to close the week, again showing resilience in the face of troubling economic data. An extension of the oil rebound and more positive reopening also provided some ballast to equities.Source: Provided by Finviz * The S&P 500 climbed 0.39%. * The Dow Jones Industrial Average advanced 0.25% * The Nasdaq Composite gained 0.79% * After being one of the Dow components worst hit by the novel coronavirus, Walt Disney (NYSE:DIS) was the index leader today on news Florida is taking steps to reopen theme parks, including Disney World in Orlando.Onto the data, which were again dismal. A report released earlier today by the Federal Reserve indicates industrial production plunged 11.2% last month, the worst decline on record (and that data spans more than a century). Even with that, Dow members from the industrial sector 3M (NYSE:MMM) and Caterpillar (NYSE:CAT) closed higher today.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSeparately, the Commerce Department said retail spending tumbled 16.4% in April, far worse than the 12% drop economists expected. The April decline follows an 8.3% in March. * 20 Stocks to Buy If You're Still Betting on America to Thrive Data points like those are sure to cap gains, but the broader market moved higher even as just 14 of 30 Dow names were higher in late trading. Showing Some StrengthNeither of the aforementioned data points would appear to be conducive to success for a stock like Home Depot (NYSE:HD), yet the home improvement retailer was one of the Dow leaders Friday. Today's strength in the name is relevant for several reasons, not the least of which is that the company reports earnings on Tuesday. More Boeing DramaAs has been widely documented, any road to recovery for Boeing (NYSE:BA) is likely to be bumpy and long. Add another bump to that road today following a Barron's article that points out Boeing isn't too big to fail.That doesn't mean Boeing will disappear, but investors shouldn't expect the company will get the same treatment some banks got during the global financial crisis. Bottom line: Boeing is going to have clean up its own backyard. Industrial CarnageAs noted above, a couple of Dow stocks hailing from the industrial sector fought of the weak, related data. Boeing didn't, but the real laggard from the sector Raytheon Technologies (NYSE:RTX). Not only was Raytheon the worst-performing Dow stock today, somewhat quietly it's lower by more than 13% over the past month. No Upgrade HelpGoldman Sachs' (NYSE:GS) joined other financial stocks in the losers column today, even after earning an upgradeto "outperform" from "market perform" from BMO Capital Markets."GS's strong capital position, relatively small loan book, limited reliance on spread income, and ongoing expense/ funding initiatives leave GS well-positioned versus most of the money center banks," said the research firm. Tepid CoverageMicrosoft (NASDAQ:MSFT) closed slightly higher after Citibank initiated coverage of the tech giant with a "neutral" rating."We do view shares as somewhat defensive in an uncertain environment, however the downside of the product cycle as well as margin impacts of Xbox launch could reverse some of the favorable trends that benefitted numbers in the earlier part of FY20 (upside to high-margin software franchise," said the bank. Bottom Line on the Dow Jones TodayIn another day when bad data commanded headlines, but stocks still rose, I thought the following from FactSet might be interesting. To boil it down, companies announcing negative earnings surprises this year aren't being punished in the fashion investors would expect."Companies in the S&P 500 that have reported negative earnings surprises for Q1 have seen a decrease in price of 1.1% on average from two days before the company reported actual results through two days after the company reported actual results," according to the research firm.That percentage decline is below the five-year average of 2.8%.Todd Shriber has been an InvestorPlace contributor since 2014. As of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace * Top Stock Picker Reveals His Next 1,000% Winner * America's Richest ZIP Code Holds Shocking Secret * 1 Under-the-Radar 5G Stock to Buy Now * The 1 Stock All Retirees Must Own The post Dow Jones Today: Another Data Defying Day As Retail Spend Plummeted appeared first on InvestorPlace.
When it comes to Dow Jones Industrial Average stock 3M (NYSE:MMM), investors have been faced with their share of ailments off and on the price chart. But following a new sales report, will the old doggish trend in MMM stock remain the bears' best friend? Or will it mark new profitable beginnings for bulls? Let's take a closer look at what's going on with 3M right now.Source: r.classen / Shutterstock.com Many stocks in today's market can point to the novel coronavirus as a source for challenges facing those companies in an unfolding socially distanced environment. Take a look at the grounding in airline giant Delta Airlines (NASDAQ:DAL) or the TKO in casino heavyweight Las Vegas Sands (NYSE:LVS) as two common victims. It's not pretty. That's not the entire story though.Many blue-chip stocks within the Dow Jones are adapting. Home Depot (NYSE:HD) is one constituent whose price chart points at a company figuring out how to successfully service consumers through the coronavirus pandemic. And tech giant Microsoft (NASDAQ:MSFT), the market's largest publicly traded company, simply appears to be well-built for this unthinkable, disruptive socioeconomic shift. Unfortunately, 3M (and, by extension, MMM stock) is different.InvestorPlace - Stock Market News, Stock Advice & Trading TipsDespite the industrial conglomerate's well-positioned N-95 respirator mask success during the new pandemic and some spoils from other health-related business units, 3M's April sales dipped 11% from the year ago period according to a report released Thursday. Softness in other key market segments, including safety and industrial, consumer, transportation and electronics weighed on the company's total sales decline. * 7 Earnings Reports to Watch Next Week The news comes after 3M announced in late April it was withdrawing full-year guidance due to the pandemic. Management stated it will keep investors informed vis-a-vis monthly updates until a more accurate, longer-term forecast is possible. The first of these reports also appears to have been a surprise for Wall Street.MMM stock slid to its weakest levels since late March during Thursday's session. However, a rebound in the broader market from out-the-gate selling following back-to-back days of profit-taking helped lift the stock well off intraday lows to close down just 0.75%.But is 3M a pullback worth buying? MMM Stock Monthly Price Chart Source: Charts by TradingViewEarnings at the tail end of April saw investors bid up MMM stock by more than 2.50% and notch a two-month high. The action also established follow-through confirmation for a bullish monthly chart hammer candlestick formed during March's broader market correction. That's not all though.Technically, the hammer is well-supported by the 62% retracement level dating to 3M's 2009 financial crisis bottom. Also favorable, the candlestick's body completed narrowly above a long-term trend-line. It's the sort of evidence that makes the case for a meaningful bottom following a two-year long bear market. But a hard pullback over the past two weeks might raise a flag regarding the pattern's durability.A second look at 3M's monthly chart reveals the immediate post-earnings bid has yielded to another potential lower high pattern in MMM stock's existing downtrend. The rally high also failed rather quickly on an initial challenge of nearby resistance. It's not the sort of price action investors caught purchasing 3M's hammer are likely excited to see.The good news, if any, is 3M's stock is offering a pullback opportunity with solid risk versus reward characteristics. Shares are inside a support area from roughly $115 to $141 and above the trend-line, which held the body of April's hammer. Stochastics have also signaled a bullish crossover inside oversold territory.My advice for any would be buyers of 3M is to set a stop-loss beneath $129. This level minimizes dollar risk to about 5% as of Thursday's close. At the same time, relative to the recent high a return of nearly 20% is possible and skews the risk profile heavily in favor of buying stock. Moreover and to make sure an old and friendly doggish trend doesn't continue to rollover, this exit smartly pulls the plug if a bearish April pivot high is confirmed and 3M falls ominously inside the lower half of its hammer bottom.The information offered is based upon Christopher Tyler's observations and strictly intended for educational purposes only; the use of which is the responsibility of the individual. For additional market insights and related musings, follow Chris on Twitter @Options_CAT and StockTwits. More From InvestorPlace * Top Stock Picker Reveals His Next 1,000% Winner * America's Richest ZIP Code Holds Shocking Secret * 1 Under-the-Radar 5G Stock to Buy Now * The 1 Stock All Retirees Must Own The post Bad News Is Good News for Todayas 3M Stock Investors appeared first on InvestorPlace.
The global death toll from the coronavirus that causes COVID-19 edged closer to 300,000 on Thursday, as a new poll found the majority of Americans disapprove of President Donald Trump’s handling of the pandemic.
DOW UPDATE The Dow Jones Industrial Average is declining Thursday afternoon with shares of 3M and Raytheon Technologies Corp. facing the biggest declines for the index. Shares of 3M (MMM) and Raytheon Technologies Corp.
DOW UPDATE Dragged down by declines for shares of Raytheon Technologies Corp. and Walgreens Boots, the Dow Jones Industrial Average is declining Thursday morning. The Dow (DJIA) was most recently trading 127 points lower (-0.