Does 3M Have Enough Cards Left To Play?
Stephen Simpson, CFA
Stephen Simpson, CFA
Yesterday, 9:04 AM
- Net income of $1.29B, or $2.08 per diluted share, vs. $1.3B, or $2.02 per diluted share, a year ago.
- Revenue by segment: Industrial -0.1%; Electronics and Energy -10%; Safety and Graphics +4.7%; Health Care +3%; Consumer +1.7%.
- Returned $1.5B to shareholders via dividends and share repurchases.
- The company narrowed its expected EPS range for 2016 to $8.15-$8.30 (vs. $8.10-$8.45 previously) and lowered its organic local-currency sales growth guidance to 0-1% (vs. 1-3%)
- MMM -1.2% premarket
- Q2 results
Yesterday, 7:31 AM
Mon, Jul. 25, 5:30 PM
- ABG, ACW, AHGP, AKS, ALLY, AOS, ARLP, ASTE, ATI, AUDC, AVY, AXE, AXTA, BAX, BEAV, BP, BPOP, CAT, CHKP, CIGI, CNC, CNHI, CNX, CPLA, CSL, CTG, CVLT, CYNO, DD, DTE, EEFT, EXAS, FBC, FCH, FCX, FELE, FIS, FMER, GPK, HOT, HUBB, HZO, ICLR, JBLU, JNS, KEY, KKR, LLY, LPT, MAS, MBLY, MCD, MDXG, MMM, NCI, NEO, NLSN, NORD, PCAR, PCH, RAI, RDWR, SAH, SIR, SIRI, ST, TGNA, TNC, TOWR, TROW, UA, USG, UTX, VLO, VZ, WAT, WDR, WWW, XRS
Fri, Jul. 15, 10:18 AM
- BMO technical analyst Russ Visch likes the following stocks:
- MMM: breaks out of 2-yr range, new target $205.
- AYI: successfully tested breakout at $241 level, next target $313.
- CAT: “lots of positive developments” including beginnings of a bearish-to-bullish reversal; rally above $81 would signal uptrend resuming with target of $105.
- EMR: successful retest of recent breakout, rally above $56.75 would open new target of $65.50.
- GE: breaks out of triangle pattern, next target $37, implies nearly 15% gain.
- TYC: has to breakout above $44 resistance, that would open new target of $48.
- UNP: in bearish-to-bullish reversal, new long-term uptrend underway, next target $113, implies 23% gain.
- UPS: to challenge all-time high at $114.40, breakout would be “extremely bullish” with new target $140.
- Also likes: FAST, FLR, JEC, MAS, PH, UTX, VRSK
Mon, Jun. 27, 11:16 AM
- The outperformance of low-P/E stocks that marked H1 is behind us, says RBC's Jonathan Golub, and it's time for the "Stable Growers" to re-asset leadership. He cautions about putting money to work too quickly though, noting the pullback so far has been limited.
- His list of Stable Growers (page 1, page 2): CHD, CL, CVS, K, MO, PEP, PG, PM, BCR, BDX, DGX, DVA, HSIC, JNJ, LH, MDT, SYK, TMO, UNH, ZBH, AFL, AON, MMC, TMK, CTAS, DHR, HON, ITW, LMT, MMM, NLSN, RSG, RTN, UPS, VRSK, WM, XYL, CMCSA, MCD, OMC, ADP, APH, EMC, MA, T, VZ, ECL, PX
Wed, May 18, 9:08 AM
Tue, May 17, 10:37 AM
- Dentists from Georgia and Texas have filed a proposed class-action lawsuit against 3M (MMM -0.3%) in Minnesota federal court, claiming the company's dental crowns contain defects that cause them to de-bond inside patients' mouths.
- "This suit involves hundreds of thousands of 3M Lava Ultimate restorations performed in dental practices throughout the country," said Burns Charest lead partner Warren Burns.
- Plaintiffs claim the crowns fail at rates of 50% or more, and can cost more than $1,000 per replacement.
Tue, May 10, 5:36 PM
Mon, May 2, 7:56 AM
- April monthly performance was: -0.42%
- $0.06 in dividends were paid in April
- Top 10 Holdings as of 3/31/2016: Coca-Cola Co (KO): 4.27%, Microsoft Corp (MSFT): 3.51%, Altria Group Inc (MO): 3.33%, Apple Inc (AAPL): 3.31%, AbbVie Inc (ABBV): 2.67%, International Business Machines Corp (IBM): 2.38%, McDonald's Corp (MCD): 2.09%, Cisco Systems Inc (CSCO): 1.95%, 3M Co (MMM): 1.84%, Home Depot Inc (HD): 1.81%
Tue, Apr. 26, 7:36 AM
Mon, Apr. 25, 5:30 PM
- ABG, ABX, AHGP, AIXG, AKS, ALLY, ARLP, ATI, AVX, AXE, BAX, BEAV, BLMN, BP, CNC, CNX, COH, CPLA, CRS, CTG, CYNO, DD, DFRG, DTE, ENTG, ETR, FBC, FCAU, FCH, FCX, FLIR, FLWS, FMER, GLPI, GLW, GPK, HSY, HUBB, HZO, ICLR, IIVI, IR, JBLU, JNS, LLY, LMT, LPT, MAS, MDXG, MHFI, MMM, NCI, ODP, PAG, PCAR, PCH, PG, PH, PNR, POL, R, RAI, SAH, SAVE, SCL, SIR, SPG, ST, SUI, SVU, TEN, TMUS, TRI, TROW, WAB, WAT, WDR, WHR, WYN
Tue, Apr. 12, 9:50 AM
- Jefferies raises 3M's (NYSE:MMM) price target to $187 from $175. Implied upside 12%.
- Analyst Laurence Alexander says favorable short-term indicators could support further upside, but notes that valuations at cycle-highs are starting to look stretched, particularly in light of MMM's modest organic growth forecasts.
- "If normal seasonality prevails from current levels, U.S. auto sales will be running 3-5% below prior year levels in Q416; U.S. corporate profit margins and aggregate profits have eased from peak levels; and U.S. housing permits and the NAHB index have also struggled to establish new highs. Until these trends are resolved positively, shorter-cycle business models like 3M's will likely benefit relative to companies more dependent on sustained improvements in longer-cycle end-markets."
- Laurence is ranked #51 out of 3,857 analysts on TipRanks.
- Now read 3M Should Be Trading At Least At $200 »
Tue, Apr. 5, 9:46 AM
- The increase in debt that ensues as 3M (MMM -0.9%) transitions to a more "optimized" capital structure will weaken the company's leverage and cash flow metrics.
- But the company's track record of innovation and leveraging its technology platforms across all of its business segments will continue to drive earnings growth, said Moody's Investors Service.
- In signs of firm's increasing risk tolerance, 3M plans to add $10-$15B of debt in 2016-20 to help fund $24-$29B of acquisitions and share repurchases.
- Now read 3M Expected To Outperform With Stronger Growth From Its Internal Initiatives
Mon, Apr. 4, 7:25 AM
- March monthly performance was: +6.95%
- 52-week performance vs. the S&P 500 is: +1%
- $0.07 in dividends were paid in March
- Top 10 Holdings as of 2/29/2016: Coca-Cola Co (KO): 4.24%, Altria Group Inc (MO): 3.5%, Microsoft Corp (MSFT): 3.45%, Apple Inc (AAPL): 3.13%, AbbVie Inc (ABBV): 2.72%, International Business Machines Corp (IBM): 2.19%, McDonald's Corp (MCD): 2.08%, Cisco Systems Inc (CSCO): 1.91%, 3M Co (MMM): 1.85%, Home Depot Inc (HD): 1.8%
Mon, Apr. 4, 7:23 AM
- March monthly performance was: +6.87%
- 52-week performance vs. the S&P 500 is: +5%
- No dividends were paid in March
- Top 10 Holdings as of 2/29/2016: Nucor Corp (NUE): 2.35%, Illinois Tool Works Inc (ITW): 2.18%, Genuine Parts Co (GPC): 2.17%, Leggett & Platt Inc (LEG): 2.16%, Emerson Electric Co (EMR): 2.16%, Target Corp (TGT): 2.16%, Cincinnati Financial Corp (CINF): 2.15%, W W Grainger Inc (GWW): 2.15%, McCormick & Co Inc Non-Voting (MKC): 2.11%, 3M Co (MMM): 2.11%
Tue, Mar. 29, 7:38 AM
- At a investor meeting today, CEO Inge Thulin will introduce new objectives and discuss how 3M's (NYSE:MMM) playbook - portfolio management, investing in innovation, and business transformation - is positioning the company to deliver a strong performance in 2016 and beyond.
- The new five-year financial objectives (covering 2016 through 2020) are: 8-11% growth in earnings per share; 2-5% organic local currency sales growth; 20% return on invested capital; 100% free cash flow conversion.
- 3M also reaffirmed its 2016 full-year guidance: EPS of $8.10-8.45, organic local-currency sales growth of 1-3%, and free cash flow conversion of 95-105%.
3M Co. is a diversified technology company serving customers and communities with innovative products and services. The company operates its business through five segments: Industrial, Safety and Graphics, Electronics and Energy, Health Care and Consumer. The Industrial segment serves a broad... More
Sector: Industrial Goods
Industry: Diversified Machinery
Country: United States
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