In a series of major developments, 3M Company (MMM) witnessed a strong surge in its stock price following a dividend cut. This decisive move led to a 44% increase in stock value by 2024 triggering increased interest from institutional investors, who now own a whopping 66% in the company. Notably, 3M has announced robust performance figures for its Q2 earnings and has provided updates for its full-year earnings guidance for 2024. Additionally, the stock trades near 52-week highs, sparking speculation whether it's time to buy, sell, or hold.
The board declared quarterly dividends in May and August 2024, accentuating the company's financial health. Furthermore, the appointment of a new CFO in August 2024 fueled optimism among investors.
In a strategic move, 3M completed a spin-off of Solventum, it's healthcare business, a move welcomed by shareholders. The company’s stock jumped 20% to a two-year high on back of strong earnings and upbeat guidance. Its Q2 revenues surpassed estimates giving the stock a further boost
3m Company MMM News Analytics from Thu, 16 Nov 2023 08:00:00 GMT to Sun, 22 Sep 2024 04:51:00 GMT - Rating 7 - Innovation 5 - Information 8 - Rumor 2
