Investor interest in 3M Company (MMM) has surged due to diverse reasons. Despite a historic dividend cut, 3M stock experienced a significant rally, fueled by operational performance that utilized Q1 2024 earnings to initiate full-year 2024 guidance. However, MMM's performance still lagged behind the broader market, leading to speculation about its value. In a strategic move, 3M’s board approved a health care business spin-off, naming the independent company Solventum, which was completed recently. Alongside this, William Brown was announced as the new CEO, following which JP Morgan upgraded 3M due to key catalysts, including the healthcare spinoff. Despite warnings of profit margins in 2024, the stock remained resilient, outperforming competitors on several strong trading days. There is constant evaluation of 3M's stagnating stock and talks of a potential dividend cut post the healthcare spinoff. Subsequently, 3M's stocks took a hit due to a disappointing full-year guidance but rebounded thanks to MMM’s Q4 earnings beating estimates, and anticipated post-spin dividend cuts. MMM, now considered high risk, has endured a steep stock loss over the last five years, yet some analysts speak of an untapped opportunity. Recently, Bill Brown was appointed CEO, contributing to a stock climb.
3m Company MMM News Analytics from Thu, 16 Nov 2023 08:00:00 GMT to Sun, 26 May 2024 10:49:23 GMT - Rating 5 - Innovation 2 - Information 8 - Rumor -1
