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3M (MMM) Stock Forecast, Price & News

$100.76
-0.24 (-0.24%)
(As of 06/8/2023 ET)
Compare
Today's Range
$99.58
$101.35
50-Day Range
$93.31
$106.78
52-Week Range
$92.38
$152.30
Volume
3.15 million shs
Average Volume
3.55 million shs
Market Capitalization
$55.59 billion
P/E Ratio
10.44
Dividend Yield
5.95%
Price Target
$122.69

3M MarketRank™ Forecast

Analyst Rating
Hold
1.80 Rating Score
Upside/​Downside
21.8% Upside
$122.69 Price Target
Short Interest
Healthy
2.16% of Float Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
-2.89
Upright™ Environmental Score
News Sentiment
0.27mentions of 3M in the last 14 days
Based on 5 Articles This Week
Insider Trading
Selling Shares
$1.62 M Sold Last Quarter
Proj. Earnings Growth
9.70%
From $8.66 to $9.50 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.61 out of 5 stars

Multi-Sector Conglomerates Sector

5th out of 21 stocks

Surgical & Medical Instruments Industry

9th out of 97 stocks


MMM stock logo

About 3M (NYSE:MMM) Stock

Since its inception in 1902, 3M (originally Minnesota Mining and Manufacturing Company) has become one of the world's most successful companies. From its humble beginnings in Two Harbors, Minnesota, 3M has become an American multinational conglomerate that operates in the worker safety, U.S. health care and consumer goods industries.

Today, 3M, headquartered in Maplewood, Minnesota, produces over 60,000 products under several brands, including adhesives, abrasives, laminates, passive fire protection, personal protective equipment, window films, paint protection films, dental and orthodontic products, electrical and electronic connecting and insulating materials, medical products, car-care products, electronic circuits, healthcare software and optical films. 

In 2021, 3M reported total sales of $35.4 billion and ranked 102 on the Fortune 500 list of the largest United States corporations by total revenue. The company had approximately 95,000 employees and operations in over 70 countries in 2021.

3M has been a leader in innovation since its inception. In 1924, 3M obtained its first patent and launched its Pollution Prevention Pays program. Through this program, 3M reduced releases of toxic pollutants by 99% and greenhouse gas emissions by 72%. 3M has also earned the United States Environmental Protection Agency's Energy Star Award.

In 1947, 3M began producing perfluorooctanoic acid (PFOA) by electrochemical fluorination. In 1951, DuPont purchased PFOA from 3M for use in the manufacturing of Teflon. In 1952, Patsy Sherman and Samuel Smith discovered the original formula for Scotchgard, a water-repellent applied to fabrics. In the late 1950s, 3M produced the first asthma inhaler. 3M entered the pharmaceutical industry in the mid-1960s by acquiring Riker Laboratories. In the mid-1990s, 3M Pharmaceuticals made the first CFC-free asthma inhaler.

In 2000, 3M began phasing out perfluoro sulfonic acid (PFOS), perfluorooctanoic acid and PFOS-related products. In 2010, the state of Minnesota sued 3M for $5 billion in punitive damages. In 2018, the company settled the case with $850 million. The settlement included a commitment to spend $35 million on research, monitoring, and education to help protect and restore natural resources. 

In 2016, 3M completed a 400,000-square-foot research-and-development building that cost $150 million on its Maplewood campus. In 2017, 3M reported net sales of $31.657 billion. In 2020, 3M divested its drug delivery business to an affiliate of Altaris Capital Partners LLC, for approximately $650 million. In 2021, 3M merged its food-safety business with food testing and animal healthcare maker Neogen. 

Recently, 3M has been in the news for producing PFAS, or "forever chemicals." These chemicals make coatings and products that resist grease, heat, water and oil. Recent studies have suggested that these chemicals are far more hazardous to human health than previously thought. In response, 3M has announced that it will be phasing out PFAS in its products by the end of 2025, which should hit the company between $1.3 and $2.3 billion in the coming years.

3M has also been in the news due to its perfluoroethane (CF4) emissions from its chemical plant in Cordova, Illinois. The CF4 is 7,380 times more potent than carbon dioxide as a greenhouse gas and remains in the atmosphere for 50,000 years. 3M has agreed to meet the EPA's hazardous waste incineration standards and reduce its CF4 emissions by 99.95%.




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MMM Stock News Headlines

3M (NYSE:MMM) Stock Rating Lowered by StockNews.com
The single greatest medical breakthrough of all time?
We are on the cusp of a medical breakthrough. And soon, this single breakthrough could lead to the cure of over 6,000 genetic diseases, including Alzheimer's, heart disease, and even cancer! This reminds me of Amgen, where early investors made as much as 46,751% when they released their revolutionary drug to the market.
3M (NYSE:MMM) Receives $122.69 Average PT from Analysts
The single greatest medical breakthrough of all time?
We are on the cusp of a medical breakthrough. And soon, this single breakthrough could lead to the cure of over 6,000 genetic diseases, including Alzheimer's, heart disease, and even cancer! This reminds me of Amgen, where early investors made as much as 46,751% when they released their revolutionary drug to the market.
3M: Sellers May Be Exhausted
3M: A High Yield With Market Concerns
3M Company: Still Cautious Sub $100
3M Unusual Options Activity
The Latest Analyst Ratings for 3M
3M (NYSE:MMM) Plans $1.50 Quarterly Dividend
3M Stock To Go Ex-dividend Tomorrow (MMM)
See More Headlines

MMM Price History

MMM Company Calendar

Ex-Dividend for 3/12 Dividend
2/16/2023
Dividend Payable
3/12/2023
Last Earnings
4/25/2023
Ex-Dividend for 6/12 Dividend
5/18/2023
Today
6/08/2023
Dividend Payable
6/12/2023
Next Earnings (Estimated)
7/25/2023
Fiscal Year End
12/31/2023

Industry, Sector and Symbol

Industry
Surgical & medical instruments
Sub-Industry
Industrial Conglomerates
CUSIP
88579Y10
Employees
92,000
Year Founded
1902

Price Target and Rating

Average Stock Price Forecast
$122.69
High Stock Price Forecast
$155.00
Low Stock Price Forecast
$95.00
Forecasted Upside/Downside
+21.8%
Consensus Rating
Hold
Rating Score (0-4)
1.80
Research Coverage
10 Analysts

Profitability

Net Income
$5.78 billion
Pretax Margin
17.88%

Debt

Sales & Book Value

Annual Sales
$34.23 billion
Cash Flow
$14.03 per share
Book Value
$26.72 per share

Miscellaneous

Free Float
549,796,000
Market Cap
$55.59 billion
Optionable
Optionable
Beta
0.95

Social Links


Key Executives

  • Michael F. RomanMichael F. Roman
    Chairman, President & Chief Executive Officer
  • Monish Patolawala
    EVP, Chief Financial & Transformation Officer
  • John Patrick BanovetzJohn Patrick Banovetz
    CTO & EVP-Environmental Responsibility
  • Mark W. Murphy
    Executive VP, Chief Information & Digital Officer
  • Michael A. Duran
    Senior VP, Chief Ethics & Compliance Officer













MMM Stock - Frequently Asked Questions

Should I buy or sell 3M stock right now?

10 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for 3M in the last twelve months. There are currently 2 sell ratings and 8 hold ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" MMM shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in MMM, but not buy additional shares or sell existing shares.
View MMM analyst ratings
or view top-rated stocks.

What is 3M's stock price forecast for 2023?

10 equities research analysts have issued 12-month price targets for 3M's shares. Their MMM share price forecasts range from $95.00 to $155.00. On average, they anticipate the company's share price to reach $122.69 in the next twelve months. This suggests a possible upside of 21.8% from the stock's current price.
View analysts price targets for MMM
or view top-rated stocks among Wall Street analysts.

How have MMM shares performed in 2023?

3M's stock was trading at $119.92 at the beginning of 2023. Since then, MMM shares have decreased by 16.0% and is now trading at $100.76.
View the best growth stocks for 2023 here
.

When is 3M's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Tuesday, July 25th 2023.
View our MMM earnings forecast
.

How were 3M's earnings last quarter?

3M (NYSE:MMM) posted its quarterly earnings data on Tuesday, April, 25th. The conglomerate reported $1.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.60 by $0.37. The conglomerate earned $8.03 billion during the quarter, compared to analysts' expectations of $7.51 billion. 3M had a trailing twelve-month return on equity of 36.48% and a net margin of 16.31%. The firm's revenue was down 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.65 earnings per share.
Read the conference call transcript
.

How often does 3M pay dividends? What is the dividend yield for 3M?

3M announced a quarterly dividend on Tuesday, May 9th. Stockholders of record on Friday, May 19th will be given a dividend of $1.50 per share on Monday, June 12th. This represents a $6.00 dividend on an annualized basis and a yield of 5.95%. The ex-dividend date is Thursday, May 18th.
Read our dividend analysis for MMM
.

Is 3M a good dividend stock?

3M (NYSE:MMM) pays an annual dividend of $6.00 per share and currently has a dividend yield of 6.10%. MMM has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company has been increasing its dividend for 66 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 62.18%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, MMM will have a dividend payout ratio of 63.16% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for MMM.

What guidance has 3M issued on next quarter's earnings?

3M issued an update on its FY 2023 earnings guidance on Thursday, April, 27th. The company provided earnings per share (EPS) guidance of $8.50-$9.00 for the period, compared to the consensus earnings per share estimate of $8.60. The company issued revenue guidance of $30.91 billion-$32.22 billion, compared to the consensus revenue estimate of $31.81 billion.

What is Mike Roman's approval rating as 3M's CEO?

385 employees have rated 3M Chief Executive Officer Mike Roman on Glassdoor.com. Mike Roman has an approval rating of 80% among the company's employees.

What other stocks do shareholders of 3M own?

Based on aggregate information from My MarketBeat watchlists, some companies that other 3M investors own include Johnson & Johnson (JNJ), AT&T (T), Intel (INTC), Walt Disney (DIS), Cisco Systems (CSCO), AbbVie (ABBV), Verizon Communications (VZ), Exxon Mobil (XOM), JPMorgan Chase & Co. (JPM) and Pfizer (PFE).

What is 3M's stock symbol?

3M trades on the New York Stock Exchange (NYSE) under the ticker symbol "MMM."

Who are 3M's major shareholders?

3M's stock is owned by a variety of institutional and retail investors. Top institutional shareholders include BlackRock Inc. (7.26%), State Street Corp (6.00%), Charles Schwab Investment Management Inc. (2.27%), Geode Capital Management LLC (2.08%), Flossbach Von Storch AG (1.69%) and Newport Trust Co (1.59%). Insiders that own company stock include Denise R Rutherford, Eric D Hammes, Eric D Hammes, Ivan K Fong, Jeffrey R Lavers, Jeffrey R Lavers, John Patrick Banovetz, Kevin H Rhodes, Khandpur K Ashish, Khandpur K Ashish, Kristen M Ludgate, Michael F Roman, Michael G Vale, Mojdeh Poul, Rodriguez Beatriz Karin Chavez, Theresa E Reinseth, Theresa E Reinseth and Zoe L Dickson.
View institutional ownership trends
.

How do I buy shares of 3M?

Shares of MMM stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

What is 3M's stock price today?

One share of MMM stock can currently be purchased for approximately $100.76.

How much money does 3M make?

3M (NYSE:MMM) has a market capitalization of $55.59 billion and generates $34.23 billion in revenue each year. The conglomerate earns $5.78 billion in net income (profit) each year or $9.65 on an earnings per share basis.

How many employees does 3M have?

The company employs 92,000 workers across the globe.

Does 3M have any subsidiaries?
The following companies are subsidiares of 3M: 3M Asia Holding B.V., 3M Asia Pacific UK Holding Ltd, 3M Asset Management S.a.r.l., 3M Australia Pty. Ltd., 3M Belgium bvba/sprl, 3M Canada Company - Compagnie 3M Canada, 3M China Limited, 3M Deutschland GmbH, 3M EMEA GmbH, 3M Espana S.L., 3M Financial Management Company, 3M France S.A.S., 3M Global Capital S.a.r.l., 3M Global Channel Services Inc., 3M Health Information Systems Inc., 3M Holding Company B.V., 3M Hong Kong Limited, 3M ITALIA s.r.l., 3M India Limited, 3M Innovation Singapore Pte. Ltd., 3M Innovative Properties Company, 3M Interamerica Inc., 3M Intermediate Acquisitions B.V., 3M International Group B.V., 3M International Holding B.V., 3M International Investments B.V., 3M International Trading (Shanghai) Co. Ltd., 3M Investments (China) Co. Ltd., 3M Japan Holdings G.K., 3M Japan Innovation Limited, 3M Japan Limited, 3M Japan Products Limited, 3M Korea Co. Ltd, 3M Manaus Industria de Produtos Quimicos Ltda., 3M Material Technology (Suzhou) Co. Ltd., 3M Mexico Sociedad Anonima de Capital Variable, 3M Occupational Safety LLC, 3M Panama Pacifico S. de R.L., 3M Poland Manufacturing Sp. z.o.o., 3M Precision Grinding GmbH, 3M Products Limited, 3M Purification Inc., 3M Purification SAS, 3M Real Estate GmbH & Co KG, 3M Singapore Pte. Ltd., 3M Specialty Materials (Shanghai) Co. Ltd., 3M Svenska Aktiebolag, 3M Taiwan Limited, 3M Taiwan Optronics Corporation, 3M Technical Ceramics Inc., 3M Thailand Limited, 3M UK Holdings Limited, 3M United Kingdom Public Limited Company, 3M Unitek Corporation, 3M West Europe B.V., 3M Wroclaw spolka z ograniczona odpowiedzialnoscia, 3M do Brasil Ltda., ABRASIVOS, Abzil Industria e Comercio, Accuspray Application Technologies, Ace, Acelity, Acelity Inc., Acolyte Biomedica, Advanced Chemistry & Technology, Aearo Holding LLC, Aearo Intermediate LLC, Aearo LLC, Aearo Technologies, Aearo Technologies LLC, Aerion Supersonic, Alpha Beta Global Tapes And Adhesives Co, Alpha Beta Global Tapes and Adhesives Co. Ltd., Archon Technologies, Arizant, Attenti, Avery Dennison - consumer products business, Biotrace International, Bondo, Brontes Technologies, CUNO, Capital Safety, Capital Safety Acquisitions Limited, Capital Safety Global Holdings Limited, Capital Safety Group Canada ULC, Capital Safety Group EMEA, Capital Safety North America Holdings Inc., Capital Safety North America Intermediate Holdings LLC, Ceradyne, Chiron Holdings Inc., CodeRyte, Cogent Systems, Credence Technologies, D B Industries LLC, DMS Chile, Dailys, Diamond Productions, Dyneon GmbH, E Wood Holdings, EMFI SAS, Elution Technologies, Faab Fabricauto, Federal Signal Technologies, Food Diagnostics, Futuro, General Industrial Diamond Company, Grafoplast, HighJump Software, Hornell International, Hybrivet Systems, IMTEC Corp., Incavas Industria de Cabos e Vassouras, Ivera Medical, J.R. Phoenix, JJ Converting, K&H Surface Technologies, KCI Cayman Holdings, KCI Cayman Holdings II, KCI Europe Holding B.V., KCI Holding Company Inc., KCI International Inc., KCI Licensing Inc., KCI Manufacturing Unlimited Company, KCI UK Holdings Limited, KCI USA Inc., Kinetic Concepts Inc., Les Entreprises Solumed, Ligacon, Ligacon - Filtration Supplier, Lingualcare, M Modal, MModal IP LLC, MModal LLC, MModal MQ Inc., MModal Services Ltd., MTI PolyFab, Medical Holdings Limited, Meguiar's Inc., Meguiar’s, Mercury Online Solutions, Nida-Core, Nylonge, OMNII Oral Pharmaceuticals, Original Wraps, Polyfoam Products, Polypore (Separations Media Business), Powel, Quest Technologies, Robinson Nugent, Rochford Thompson Equipment, Ross Reels, SAPO S.A.S, SBG, SCC Products Inc., Scott Health & Safety Limited, Scott Safety, Scott Technologies Inc., Security Printing and Systems Limited, Semfinder, SoftMed Systems, Solvay Fluoropolymers, Standard Abrasives, Systagenix Wound Management B.V., Systagenix Wound Management Limited, Systagenix Wound Management Mezz B.V., TOP-Service für Lingualtechnik, Treo Solutions, Unifam, and Venture Tape.
Read More
How can I contact 3M?

3M's mailing address is 3M CENTER BLDG. 220-11W-02, ST PAUL MN, 55144. The official website for the company is www.3m.com. The conglomerate can be reached via phone at (651) 733-1110, via email at investorrelations@3m.com, or via fax at 651-733-9973.

This page (NYSE:MMM) was last updated on 6/8/2023 by MarketBeat.com Staff

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