Does 3M Have Enough Cards Left To Play?
Stephen Simpson, CFA
Stephen Simpson, CFA
Wed, Mar. 2, 6:30 AM| Wed, Mar. 2, 6:30 AM | 3 Comments
- February monthly performance was: +2.15%
- 52-week performance vs. the S&P 500 is: 0%
- $0.05 in dividends were paid in February
- Top 10 Holdings as of 1/29/2016: Coca-Cola Co (KO): 4.25%, Microsoft Corp (MSFT): 3.76%, Altria Group Inc (MO): 3.5%, Apple Inc (AAPL): 3.18%, AbbVie Inc (ABBV): 2.76%, McDonald's Corp (MCD): 2.22%, International Business Machines Corp (IBM): 2.1%, Intel Corp (INTC): 1.85%, Home Depot Inc (HD): 1.83%, 3M Co (MMM): 1.8%
Tue, Feb. 2, 4:23 PM
- 3M (NYSE:MMM) declares $1.11/share quarterly dividend, 8.3% increase from prior dividend of $1.025.
- Forward yield 3.0%
- Payable March 12; for shareholders of record Feb. 12; ex-div Feb. 10.
- The board authorized to repurchase up to $10M of common stock replacing the existing repurchase program.
Tue, Jan. 26, 8:14 AM
- Net income of $1.04B, or $1.66 per share, vs. $1.18B, or $1.81 per share, a year ago. Excluding restructuring charges, the company earned $1.80 per share.
- Revenue by segment: Industrial -6.3%; Electronics and Energy -11.7%; Safety and Graphics -5.3%; Health Care -0.8%; Consumer -2.4%.
- Returned $1.8B to shareholders via dividends and gross share repurchases.
- "The fourth quarter capped off a year of disciplined execution from our global team with solid margin and cash flow performance," CEO Inge Thulin declared. "We are building an even stronger and more competitive company for 2016 and beyond."
- As a result, the company affirmed 2016 earnings to be in the range of $8.10-$8.45 per share with organic local-currency sales growth of 1% to 3%.
- MMM +2.1% premarket
- Q4 results
Tue, Jan. 26, 7:33 AM
- 3M (NYSE:MMM): Q4 EPS of $1.80 beats by $0.17.
- Revenue of $7.3B (-5.4% Y/Y) beats by $90M.
Mon, Jan. 25, 5:30 PM
Thu, Jan. 21, 9:02 AM| Thu, Jan. 21, 9:02 AM | 6 Comments
Wed, Jan. 20, 9:16 AM
- 3M (NYSE:MMM) has agreed to sell its pressurized polyurethane foam adhesives business to Innovative Chemical Products Group, a portfolio company of Audax Private Equity.
- The unit is a provider to the roofing, insulation and industrial foam segments in the U.S. with annual sales of approximately $20M.
- Terms of the transaction were not disclosed.
Dec. 30, 2015, 9:50 AM| Dec. 30, 2015, 9:50 AM | 18 Comments
Dec. 15, 2015, 8:07 AM
- 3M (NYSE:MMM) -3.8% premarket after cutting FY15 EPS to $7.55 from $7.60-$7.65 due to a continuing slow-growth global economy. The company expects FY15 organic growth of approximately 1% vs prior guidance of 1.5%-2%.
- 3M also sees FY16 EPS of $8.10-$8.45. CEO Inge Thulin is set to tell investors that the company will continue to make investments to build and position itself for long-term success. These actions include strengthening and focusing its portfolio of businesses, investing in R&D, and moving to a more efficient business model through a global ERP system.
- The webcast is getting underway now.
Dec. 1, 2015, 8:27 AM
Nov. 20, 2015, 11:30 AM
- Market growth remains challenging whether there is an industrial recession or not, so investors should focus on stocks with strong end markets, particularly Allegion (ALLE +0.3%) and Danaher (DHR +0.5%), Bernstein's Steven Winoker says.
- Other stocks in a lower but still generally favorable tier include General Electric (GE +0.8%), Honeywell (HON +0.9%), Ingersoll-Rand (IR +0.9%) and 3M (MMM +0.7%), as these companies are exposed to favorable end markets but also to meaningfully weak markets, the analyst says.
- Aside from their portfolio transformations, DHR and GE have benefited and should continue to benefit from their above-average growth profiles in the current low-growth environment, Winoker says.
- Energy-heavy Dover (DOV +0.2%), Pentair (PNR +0.4%) and Emerson Electric (EMR +0.2%) remain the most challenged, according to Winoker, while Eaton (ETN +1.1%), Rockwell Automation (ROK +0.5%) and Tyco (TYC -0.2%) have a mix of tailwinds and headwinds, with the former more challenged on hydraulics/trucks and the latter two on energy.
- Winoker sees limited downside for DOV, which is highly linked to crude oil prices but is performing well in the ~80% of its portfolio not linked to oil.
- Earlier: Low expectations are no longer enough for multi-industry stocks, analyst says (Nov. 19)
Nov. 19, 2015, 6:25 PM
- A sluggish U.S. economy is likely to make life tough next year for industry conglomerates such as Danaher (NYSE:DHR), Honeywell (NYSE:HON), Tyco (NYSE:TYC), Emerson Electric (NYSE:EMR) and General Electric (NYSE:GE), says Bernstein's Steven Winoker.
- The analyst notes that Q3 saw 12 of Bernstein's 13 covered companies miss on revenues, 10 either lower FY 2015 EPS guidance or issue below-consensus FY 2016 guidance, and none raise growth guidance, yet 10 stocks outperformed during earnings season.
- The companies "can’t transform their way out of the reality of a low growth world, which became even more challenging this quarter, with an indication of the worst still to come," Winoker writes, expecting guidance conservatism from the group during investor meetings before the end of the year.
- Also: MMM, ROK, IR, ETN, ALE, IEX
Nov. 13, 2015, 7:30 AM
- Plug Power (NASDAQ:PLUG) and 3M (NYSE:MMM) have announced a supply agreement for membrane electrode assemblies to be used in the former's designed proton exchange membrane fuel cell stacks.
- Under the deal, the stacks will be manufactured in Plug Power's NY and WA facilities to support the $20B material handling market.
- The new fuel cell technology will also be utilized to expand Plug's presence into hydrogen enabled electric vehicle applications outside the material handling market.
- PLUG +6.7% premarket
Nov. 10, 2015, 4:48 PM
- 3M (NYSE:MMM) declares $1.025/share quarterly dividend, in line with previous.
- Forward yield 2.6%
- Payable Dec. 12; for shareholders of record Nov. 20; ex-div Nov. 18.
Oct. 22, 2015, 8:16 AM
- Net income of $1.29B, or $2.05 per share, vs. $1.30B, or $1.98 per share, a year ago.
- Revenue by segment: Industrial -7.1%; Electronics and Energy -8.1%; Safety and Graphics -2.2%; Health Care -3.2%; Consumer -1.2%.
- The company lowered its 2015 outlook and expects full-year earnings to be in the range of $7.73-$7.78 per share vs. a prior forecast of $7.73-$7.93, with organic local-currency sales growth of 1.5%-2% vs. a prior outlook of 2.5%-4%.
- The firm also plans to cut 1,500 jobs next year, and will record a pretax charge of about $100M in the fourth quarter.
- MMM -0.6% premarket
- Q3 results
Oct. 22, 2015, 7:31 AM
- 3M (NYSE:MMM): Q3 EPS of $2.05 beats by $0.05.
- Revenue of $7.71B (-5.3% Y/Y) misses by $140M.
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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