• Tue, Feb. 7, 5:26 PM
    • 3M Company (NYSE:MMM) declares $1.175/share quarterly dividend, 6.0% increase from prior dividend of $1.11.
    • Forward yield 2.67%
    • Payable March 12; for shareholders of record Feb. 17; ex-div Feb. 15.
    Tue, Feb. 7, 5:26 PM | 19 Comments
  • Tue, Jan. 24, 8:23 AM
    • Net income of $1.16B, or $1.88 per diluted share, vs. $1.04B, or $1.66 per diluted share a year ago.
    • Revenue by segment: Industrial +3%; Electronics and Energy -1%; Safety and Graphics +0.6%; Health Care -0.1%; Consumer -0.7%.
    • Returned $1.59B to shareholders via dividends and share repurchases.
    • The company affirmed outlook for 2017: Earnings are expected to be in the range of $8.45-$8.80 per share, with organic local-currency sales growth of 1%-3%.
    • Conference call at 9:00 a.m. ET
    • MMM -0.6% premarket
    • Q4 results
    Tue, Jan. 24, 8:23 AM | 1 Comment
  • Tue, Jan. 24, 7:32 AM
    • 3M (NYSE:MMM): Q4 EPS of $1.88 beats by $0.01.
    • Revenue of $7.33B (+0.4% Y/Y) in-line.
    • Press Release
    Tue, Jan. 24, 7:32 AM | 3 Comments
  • Mon, Jan. 23, 5:30 PM
    Mon, Jan. 23, 5:30 PM | 36 Comments
  • Dec. 13, 2016, 6:56 PM
    • U.S.-based industrial companies such as Emerson Electric (NYSE:EMR), Fortive (NYSE:FTV), 3M (NYSE:MMM) and Danaher (NYSE:DHR) could enjoy sizable benefits from potential tax changes that could occur next year, as well as increased capital spending, Bernstein analyst Steven Winoker writes.
    • The potential EPS upside of U.S. tax reform should reach double digits for the four companies, while Eaton (NYSE:ETN) - already at a group-low ~10% global effective tax rate - should see only minimal upside, according to Winoker, who notes that tax deductibility of capex investment also would spark spending in the U.S.
    • Bernstein's covered companies derive between 10% (3M) and 60%-plus (Rockwell Automation (NYSE:ROK)) of revenues from customers’ capex spending, so the impact could be meaningful; the firm rates Allegion (NYSE:ALLE), DHR, Dover (NYSE:DOV), FTV, Honeywell (NYSE:HON), Ingersoll-Rand (NYSE:IR), Johnson Controls (NYSE:JCI) and Pentair (NYSE:PNR) at Outperform, with EMR, ETN, General Electric (NYSE:GE), Idex (NYSE:IEX), MMM and ROK at Market Perform.
    Dec. 13, 2016, 6:56 PM | 26 Comments
  • Dec. 13, 2016, 8:07 AM
    • Speaking today at the company’s annual outlook meeting, CEO Inge Thulin will outline why 3M (NYSE:MMM) is well-positioned for success next year and beyond.
    • For full-year 2017, the company expects: EPS of $8.45-$8.80, organic local-currency sales growth of 1%-3% and free cash flow conversion of 95%-105%.
    • In 2017, 3M also plans to invest approximately $1.8B in R&D to support organic growth, and enhance the company’s strong margins and return on invested capital.
    • The webcast has just begun here
    Dec. 13, 2016, 8:07 AM | 2 Comments
  • Dec. 8, 2016, 10:40 PM
    • 3M (NYSE:MMM) agrees to sell its identity management business in its traffic safety and securiyt division to Amsterdam-based digital security company Gemalto (OTCPK:GTOFF) for $850M.
    • The sale includes 3M Cogent, which provides a full spectrum of biometric solutions with a focus in law enforcement, border control and civil identification.
    • 3M says the unit has annual global sales of ~$215M.
    Dec. 8, 2016, 10:40 PM | 4 Comments
  • Dec. 7, 2016, 10:20 AM
    • 3M (MMM +0.3%) is marginally higher on the heels of an upgrade to Sector Perform from Underperform at RBC Capital Markets due to a recent drop in the stock making its risk/reward profile more balanced.
    • The firm says health care exposure could hurt 3M due to possible new Trump initiatives, but it's raising its price target on shares to $171 from $155.
    Dec. 7, 2016, 10:20 AM | 1 Comment
  • Dec. 7, 2016, 7:51 AM
    • 3M (NYSE:MMM) has agreed to sell its safety prescription eyewear business to HOYA Vision Care "to focus on its core personal safety businesses."
    • The company will retain its safety non-prescription eyewear business, often referred to as plano eyewear. Terms of the transaction were not disclosed.
    Dec. 7, 2016, 7:51 AM
  • Nov. 21, 2016, 8:37 AM
    • Undifferentiated organic growth driven by Electronics and Energy weakness and margin headwinds will result in 3M (NYSE:MMM) share underperformance, according to Goldman Sachs.
    • As a result, the firm downgraded the stock to Sell from Neutral and lowered its price target to $159 from $167.
    • MMM -1.2% premarket
    Nov. 21, 2016, 8:37 AM | 7 Comments
  • Nov. 8, 2016, 5:16 PM
    Nov. 8, 2016, 5:16 PM | 1 Comment
  • Oct. 27, 2016, 5:07 PM
    • Griffin Capital Essential Asset REIT II has acquired 3M's (NYSE:MMM) DeKalb, Illinois distribution facility for $69.4M from Park 88 Group LLC.
    • It's a 978K sq ft distribution warehouse situated on a 49.71-acre site that was leased to 3M in August 2016 for 122 months.
    • "We are excited to acquire a new, state-of-the-art, Class-A logistics facility that serves as a primary distribution center for 3M. Our acquisition of this property reinforces our REIT's focus on driving shareholder value by investing in income-generating properties leased to well-established corporate tenants on a long term basis," said Shawn Carstens, VP Acquisitions.
    Oct. 27, 2016, 5:07 PM
  • Oct. 25, 2016, 7:52 AM
    • Net income of $1.33B, or $2.15 per diluted share, vs. $1.3B, or $2.05 per diluted share, a year ago.
    • Revenue by segment: Industrial +1%; Electronics and Energy -7.5%; Safety and Graphics +2.2%; Health Care +1.2%; Consumer +4%.
    • Returned $1.4B to shareholders via dividends and share repurchases.
    • The company lowered its expected EPS range for 2016 to $8.15-$8.20 (from $8.15-$8.30) and now expects organic local-currency sales growth to be approximately flat versus a previous range of 0-1%.
    • MMM -1.6% premarket
    • Q3 results
    Oct. 25, 2016, 7:52 AM | 12 Comments
  • Oct. 25, 2016, 7:30 AM
    • 3M (NYSE:MMM): Q3 EPS of $2.15 beats by $0.01.
    • Revenue of $7.71B in-line (flat Y/Y).
    • Press Release
    Oct. 25, 2016, 7:30 AM
  • Oct. 24, 2016, 6:58 PM
    • 3M (NYSE:MMM) is upgraded to Overweight from Equal Weight and a $194 price target at Barclays, part of the firm's more optimistic outlook in the U.S. multi-industry sector that prompts several stock upgrades.
    • Now is an attractive entry point for the overall group, Barclays believes, based on a view that the negative earnings revision cycle is nearing an end, greater visibility on key end-markets - particularly non-residential construction and general capital spending - and a recovery in emerging markets; $50-plus oil and potential M&A activity helps too, the firm says.
    • Barclays says 3M is the largest emerging market exposed name it covers (at 35% of sales), and it believes an emerging market recovery is taking place, particularly in places where 3M has been hit hard, notably Brazil; also, the recent rally in emerging market currencies will help 3M in an outsized manner.
    • In addition to 3M, Barclays upgrades WABCO Holdings (NYSE:WBC), ITT Industries (NYSE:ITT), Rexnord (NYSE:RXN) and Rockwell Automation (NYSE:ROK) to Overweight from Equal Weight; however, the firm downgrades Actuant (NYSE:ATU) and Terex (NYSE:TEX) to Underweight from Equal Weight.
    Oct. 24, 2016, 6:58 PM
  • Oct. 24, 2016, 5:30 PM
    Oct. 24, 2016, 5:30 PM | 28 Comments