3M Corp Stock Price, News & Analysis

On August 12, 2022, the Board of Directors of 3M (NYSE: MMM) declared a quarterly dividend of $1.49 per share, payable on September 12, 2022, to shareholders on record as of August 22, 2022. This reflects over 100 years of uninterrupted dividend payments, showcasing the company’s commitment to returning value to shareholders. As of June 30, 2022, 3M had approximately 569.6 million shares outstanding with 64,391 shareholders. The company continues to focus on science and innovation to address global challenges.

3M Company (NYSE: MMM) has launched an exchange offer to separate its food safety business as part of a Reverse Morris Trust transaction with Neogen Corporation (NASDAQ: NEOG). 3M stockholders can exchange their shares for SpinCo common stock, which will convert to Neogen stock post-merger. The exchange provides approximately $107.53 of Neogen shares for every $100 of 3M stock tendered. The offer, which may be oversubscribed, is set to expire on August 31, 2022. Following completion, holders of SpinCo stock will own about 50.1% of Neogen's outstanding shares.

3M Health Care's Medical Solutions Division has launched two significant innovations in wound care: the 3M™ Veraflo™ Cleanse Choice Complete™ Dressing Kit and a software upgrade for the 3M™ V.A.C.® Ulta Therapy Unit. These advancements aim to simplify the administration of Veraflo Therapy, enhancing clinician efficiency and patient comfort by making dressing changes quicker and less painful. The upgraded software includes features that automate therapy initiation and improve usability, while the new dressing kit reduces the complexity of product application.

3M launches the revolutionary 3M™ On Demand Bonding System with 3M™ VHB™ Extrudable Tape, enhancing manufacturing with improved automation and sustainability. This innovative solution merges the effectiveness of traditional VHB tapes with the flexibility of liquid adhesives, allowing for easy application on various materials without the mess. The system aims to reduce waste, increase throughput, and streamline production processes. Available worldwide, this product marks a significant advancement in bonding technology, promising faster and more efficient manufacturing capabilities.

3M Company reported its Q2 2022 financial results, highlighting a significant $1.2 billion pre-tax charge due to ongoing litigation related to Combat Arms Earplugs. GAAP earnings per share were $0.14, while adjusted EPS stood at $2.48. The company experienced a 3% decline in sales, totaling $8.7 billion, influenced by a strong U.S. dollar and reduced demand from China lockdowns. Additionally, operating cash flow dropped 40% year-on-year, amounting to $1.1 billion. 3M announced adjustments to its full-year outlook, expecting total sales growth to range from -2.5% to -0.5%.

3M (NYSE: MMM) has announced plans to spin off its Health Care business, creating two separate public companies. The New 3M will focus on material science innovations, generating $26.8 billion in sales in 2021, while Health Care aims for healthcare technology leadership. The spin-off is expected to be tax-free for U.S. federal income tax purposes and completed by year-end 2023. Each entity will benefit from enhanced agility, tailored capital allocation strategies, and unique management teams. Additionally, 3M will retain a 19.9% stake in Health Care for future monetization.

3M (NYSE: MMM) announced the second-quarter 2022 earnings conference call scheduled for July 26, 2022, at 8 a.m. CDT. Investors can participate by calling (800) 762-2596 in the U.S. or +1 (212) 231-2916 internationally. The event will also be webcast live and available for replay on 3M's Investor Relations website at http://investors.3M.com. This event highlights 3M's commitment to transparency and investor engagement.

3M has announced the top 10 finalists and four honorable mentions for the 2022 Young Scientist Challenge. Fourteen students, aged 12-14, have submitted innovative solutions to global challenges, evaluated by a panel of judges, including 3M scientists. The finalists will present their projects at the 3M Innovation Center in Minneapolis on October 17-18, 2022. The winner will receive $25,000 and the title of America's Top Young Scientist. 3M aims to support young innovators to harness STEM for community improvement.