3M Company (MMM)

[Nebuchadnezzar]

it was over $200 for well over a month or two, no excuses. plenty of time for people to sell and that is what it looks like the SMART MONEY did. they left this dog above $200

[bar1080]

Yes, I sold at the exact peak... like all IHUBbers do. Adios

[Nebuchadnezzar]

cool, hope you sold some over $200

[bar1080]

I've owned 3M for many, many years, just like all my blue chips.

[Nebuchadnezzar]

congrats on owning a a stock that has basically dead money for 2 years running



in terms of big names, maybe only GE and BA are worse

I will wait and buy MMM again when it falls for a trade and a trade only, there are plenty of better stocks to own long term

DPZ COST NFLX WM PG etc

[bar1080]

Amazing how IHUBers always know where stocks are_heading, where the high will be, where the low will be... yet year after year virtually all IHUbers lag simple index funds. Most lag them by miles!

My prediction for my long held 3M: it will fluctuate, increase its dividend occasionally and likely continue rising.

[Nebuchadnezzar]

MMM heading back to $165-$170 imo

[DewDiligence]

3M raises_2021_EPS_guidance_to $9.70-10.10—(from_prior-range_of_$9.20-$9.70):

2Q21 PR:
https://investors.3m.com/news/news-details/2021/3M-Reports-Second-Quarter-2021-Results/default.aspx

2121 CC slides:
https://s24.q4cdn.com/834031268/files/doc_financials/quarterly/2021/2Q-2021-Earnings-Presentation.pdf

3M also raised 2021 YoY revenue-growth guidance to 7-10% (from the prior range of 5-8%).

[DewDiligence]

3M wins earplug case, which ought to reduce NPV estimates of 3M’s total eventual payout for this tort:

https://finance.yahoo.com/news/3m-wins-u-trial-alleging-024414868.html

3M Co won a court case on Friday in which it was accused of covering up design defects in earplugs used by the military, following a recent loss in a similar case among nearly 230,000 claims against the company.

The Florida trial is the second to address allegations 3M hid design flaws, fudged test results and failed to instruct the military in proper use of the earplugs, which were used by the army between 2007 and 2013.

The two decisions are in "bellwether" cases, where the parties select a set of cases from the thousands that are pending to test the strength and weaknesses of the claims. The next such trial begins on June 7.

…In April, three veterans who had accused the company of covering up design defects in its earplugs were awarded $2.1 million each in punitive damages and a total of $830,500 in compensatory damages for their medical expenses, lost earnings and pain and suffering.

[DewDiligence]

3M 1Q21_results—full-year-2021_guidance*_unchanged_from_3mo_ago…

1Q21 PR:
https://investors.3m.com/news/news-details/2021/3M-Reports-First-Quarter-2021-Results/default.aspx

CC slides:
https://s24.q4cdn.com/834031268/files/doc_financials/2021/q1/Q1-2021-Earnings-Presentation.pdf

*GAAP EPS $9.20-9.70; YoY sales growth 5-8%; organic YoY sales growth 3-6%.

[north40000]

:=)

[DewDiligence]

:- )

[bar1080]

3M tops $200 for first time since early 2019. Its all-time high was ~$259 in January 2018. Current yield is 2.95%

[DewDiligence]

3M faces a second liability issue—military earplugs:

https://www.wsj.com/articles/3m-military-earplugs-blamed-for-hearing-loss-in-largest-set-of-u-s-suits-11617969601

[DewDiligence]

Ditto. (MON was at one time my largest holding.)

[bar1080]

I dodged that bullet at my long-held Monsanto. Now Bayer's problem. Their stock is down about 50% in the past few years.

https://www.barrons.com/articles/sizing-up-liability-for-pfas-chemicals-at-3m-and-others-51564653600

[DewDiligence]

When 3M is able to quantify (i.e. contain) the PFAS liability, we could see a return to the old highs. This will take some time to play out, but I'm the stock for the long haul.

[bar1080]

$191. 52-week high for MMM

[DewDiligence]

3M touts “EGS” goals:

https://finance.yahoo.com/news/3m-invest-1-billion-achieve-130000315.html

[PennyStocksGuru]

MMM is a great product design company.

[DewDiligence]

True, but a 3.4% yield isn't bad.

[bar1080]

SA opinions: 3M Div Increase Was Really Puny:

https://seekingalpha.com/news/3657574-3m-hikes-dividend-1-to-1_48-per-share

[DewDiligence]

3M increases dividend for 63rd(!) consecutive year:

https://finance.yahoo.com/news/3m-board-declares-increase-first-001500345.html

The new annualized payout is $5.92 (up from $5.88). At the current share price ($175.02), the new payout equates to a dividend yield of 3.4%.

[bar1080]

Nice numbers announced. Should get sizable div increase in February.

[DewDiligence]

3M 4Q20 results—2021 guidance:

https://investors.3m.com/news/news-details/2021/3M-Reports-Fourth-Quarter-and-Full-Year-2020-Results-Provides-Full-Year-2021-Guidance/default.aspx

2021 guidance:

• GAAP EPS = $9.20-9.70 (-1% to +5% vs 2020 actual GAAP EPS of $9.25; +5% to +11% vs 2020 actual non-GAAP EPS of $8.74); the 2021 range is unusually wide due to COVID-related uncertainty.

• 5-8% YoY revenue growth.

• 3-6% YoY organic revenue growth (excluding currency, acquisitions, and divestitures).

The stock is +1% in PM trading.

4Q20 CC slides:
https://s24.q4cdn.com/834031268/files/doc_financials/2020/q4/Q4-2020-Earnings-Presentation.pdf

[bar1080]

3M due for div increase around Feb 15.

[DewDiligence]

3M had a better 2020 than some people think—(Barron’s):

https://www.barrons.com/articles/3m-had-a-solid-2020-but-the-stock-doesnt-show-it-51609234200

Reasonable right up, although I have one nitpick: 3M is not a true conglomerate; rather, it’s a materials science company with a wide array of applications. 3M is run as an integrated business, not as a holding company like (for instance) GE, DHR, and Berkshire Hathaway.

[DewDiligence]

Generally a really huge ibox is just another indication of a scam stock.

Absolutely true, in my experience!

[bar1080]

There we go. Was more work than I assumed it would be. Haven't played with an IBOX in years. Generally a really huge ibox is just another indication of a scam stock.

[bar1080]

I tried that approach earlier today before my recent posts. In any event, it can take a while to become a mod, sometimes a day or two. Figured it was easier to ask you since you were here.

I like IHUB charts for visualizing a stock's history. Have got used to them over the years.

[bar1080]

I picked up my 3M in 2009 but not the low. So it's one of my newer buys. LOLOL!

DD, as board mod, can you get a chart going for 3M?

[DewDiligence]

If you take a somewhat longer view, MMM has been a strong performer. The share price is 4.5x the 2009 low, which is not bad for a sleep-easy stock.

[bar1080]

MMM inching to 52 week high. It's been one of my few "dogs" for the past several years. But a reasonable div grower.

Expect a significant increase next payout (February).

[DewDiligence]

3M launches new medical adhesive:

https://www.prnewswire.com/news-releases/3ms-new-silicone-adhesive-helps-improve-lives-of-patients-using-wearable-medical-devices-needing-longer-wear-301191694.html

[DewDiligence]

3M November sales +7% YoY on organic basis:

https://www.sec.gov/Archives/edgar/data/66740/000110465920135059/tm2038405d1_ex99.htm

Total sales for November increased 8 percent year-on-year to $2.9 billion. Organic local-currency sales (which include organic volume impacts and selling price changes) increased 7 percent [YoY], while divestitures decreased sales by 1 percent. Foreign currency translation increased sales by 2 percent year-on-year.

… Through November, 3M has delivered fourth-quarter to-date total sales of $5.7 billion. Although significant macroeconomic uncertainty remains, with one month left in the quarter the company estimates its sales to be in the range of $8.2 to $8.4 billion for the fourth quarter.

3M began monthly sales reporting at onset of the COVID pandemic to assist investors during a period of increased business uncertainty.

[bar1080]

What kind of engineering degree does he have?

"The engineer who services my furnace and A/C says..."

[DewDiligence]

3M plans 2,900-job layoff:

https://www.sec.gov/Archives/edgar/data/66740/000110465920131814/tm2037619d1_ex99.htm

Percentagewise, this is not a huge cut insofar as 3M has almost 100,000 worldwide employees.

[DewDiligence]

3M is now issuing MONTHLY sales reports, which they never did pre-COVID:

https://www.sec.gov/Archives/edgar/data/66740/000110465920124702/tm2035903d1_ex99.htm

[DewDiligence]

Share buybacks will not resume until 2021 at the earliest, according to today's CC.

[DewDiligence]

In 3Q20, 3M’s strongest growth among any of its product lines came from the Filtrete at-home furnace filters. As more people are working from home, they are upgrading their filters—and changing them more often.

(I use a 3M Filtrete filter with a MERV=12 rating, which is one of the highest—but not the highest—filtration rating available. The engineer who services my furnace and A/C says that a higher-rated filter would not allow the system to “breathe” sufficiently, leading to suboptimal performance and possible damage to the furnace itself.

As a result of using a high-quality filter and running the furnace fan 24/7, the house needs vacuuming must less frequently than most people probably think.)

[DewDiligence]

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=159150541

[DewDiligence]

3M 3Q20 results—COVID PPE strong—other business lines not so much:

https://www.wsj.com/articles/3m-sales-rise-from-personal-safety-home-improvement-products-11603798292

3M said sales of N95 and other masks were $235 million higher than in the same quarter a year before. The company said it has sold 1.4 billion of the masks so far this year and plans to have sold 2 billion by the end of 2020. 3M said it would be able to make 2.4 billion N95 masks annually by the end of 2020, more than triple its pre-pandemic production capacity.

… Still, other markets have remained weak, and 3M said sales were down in about half its business lines from a year earlier. Total sales through the first three quarters of this year are down 1.8% compared with the same period a year earlier.

3M has not reinstated 2020 guidance since pulling during the initial wave of the pandemic.

3Q20 PR:
https://news.3m.com/English/press-releases/press-releases-details/2020/3M-Reports-Third-Quarter-2020-Results/default.aspx

CC slides:
https://s24.q4cdn.com/834031268/files/doc_financials/2020/q3/Q3-2020-Earnings-Presentation-(1).pdf

[T695]

Buy buy buy

[Canna_Business]

$MMM $V $RUN $UA $ALLY $HRVSF

[T695]

10-30 $180 calls will at a minimum triple in the coming days
Buy buy buy

[T695]

Still not too late to pick up some 10-30 $180 calls... and they cover earnings. Buy buy buy

[T695]

10-30 $180 calls... buy buy buy

[DrewStegman]

3M STOCK ANALYSIS:

[bar1080]

3M 5-Year Q. Dividend History:

 Aug 21, 2020	1.47 Dividend 
 May 21, 2020	1.47 Dividend 
 Feb 13, 2020	1.47 Dividend 
 Nov 21, 2019	1.44 Dividend 
 Aug 15, 2019	1.44 Dividend 
 May 23, 2019	1.44 Dividend 
 Feb 14, 2019	1.44 Dividend 
 Nov 21, 2018	1.36 Dividend 
 Aug 23, 2018	1.36 Dividend 
 May 17, 2018	1.36 Dividend 
 Feb 15, 2018	1.36 Dividend 
 Nov 22, 2017	1.175 Dividend 
 Aug 23, 2017	1.175 Dividend 
 May 17, 2017	1.175 Dividend 
 Feb 15, 2017	1.175 Dividend 
 Nov 16, 2016	1.11 Dividend 
 Aug 17, 2016	1.11 Dividend 
 May 18, 2016	1.11 Dividend 
 Feb 10, 2016	1.11 Dividend 
 Nov 18, 2015	1.025 Dividend 
 

[Futurecash]

Sleepy Mike has to go.