3M Corp Stock Price, News & Analysis

3M (NYSE: MMM) announced a $1 billion investment over 20 years to meet environmental goals, including achieving carbon neutrality by 2050 and reducing water use by 25%. The company aims for a 50% reduction in carbon emissions by 2030 and plans to enhance water quality through state-of-the-art purification technologies. CEO Mike Roman emphasized improving operations and driving growth through these initiatives. The commitments align with 3M's long-standing dedication to sustainability and leadership in environmental stewardship.

On February 9, 2021, 3M (NYSE: MMM) announced its participation in two upcoming investor events. The first is the Barclays Industrial Select Conference 2021 on February 17, 2021, featuring CEO Mike Roman and CFO Monish Patolawala at 11:30 a.m. EST. The second event is the Citi 2021 Global Industrials Conference on February 18, 2021, where they will present at 10:30 a.m. EST. Both events will be available via live webcast and on the Investor Relations section of 3M's website.

3M Health Care unveiled the 3M™ Polisher™ ST on Feb. 9, 2021, a single-use AEX solution aimed at enhancing biologic drug manufacturing. This innovative product reduces processing steps, improving economic efficiency. The Polisher ST features dual AEX-functional media designed for turbidity, DNA, and endotoxin reduction, and is engineered for continuous bioprocessing. It is a compact, cost-effective solution that supports higher purity and yield. Production capsules will be available later, signaling 3M's commitment to advancing biopharmaceutical manufacturing technology.

The 3M Board of Directors declared a $1.48 dividend per share for Q1 2021, a 1% increase over the previous year. This dividend will be paid on March 12, 2021, to shareholders on record as of February 12, 2021. Notably, this is the 63rd consecutive year of dividend increases and follows over 100 years of uninterrupted dividend payments. As of December 31, 2020, 3M had 577,749,638 shares outstanding and 68,843 shareholders of record.

3M has appointed Jim Fitterling, CEO of Dow, Inc., to its Board of Directors, effective February 5, 2021. The board's size has increased to 12 members to accommodate this addition. Fitterling brings 35 years of experience in materials science, emphasizing sustainable innovation and corporate responsibility. His leadership at Dow has focused on transforming the company towards higher-growth sectors and addressing sustainability challenges. 3M's chairman, Mike Roman, expressed confidence that Fitterling's insights will enhance 3M's strategic direction.

3M reported strong fourth-quarter and full-year 2020 results, achieving a 5.8% increase in sales to $8.6 billion and a 43.4% rise in GAAP earnings per share to $2.38. Despite COVID-19 challenges, organic sales grew across all business groups, with notable demand in personal safety and home improvement. The company generated $2.5 billion in operating cash flow and reduced debt by $0.8 billion. For 2021, 3M expects earnings of $9.20 to $9.70 per share and total sales growth of 5% to 8%.

3M Food Safety has unveiled the 3M™ Petrifilm™ Plate Reader Advanced, a cutting-edge technology designed for food safety professionals. This device automates the counting of microbiological colonies on 3M Petrifilm Plates, enhancing productivity by processing up to 900 plates per hour and delivering results in 4-6 seconds. The introduction aims to help food labs optimize operations amidst increased demands due to COVID-19. Notably, a study showed a 94% reduction in time for enumeration. This marks 3M's second automation product in two years to assist food and beverage manufacturers.

3M announced an upcoming fourth-quarter 2020 earnings conference call scheduled for January 26, 2021, at 8 a.m. CST. Investors can join the call by dialing (800) 762-2596 in the U.S. or +1 (212) 231-2916 internationally. The event will be available via webcast and a replay can be accessed on 3M's Investor Relations website. For more information, visit 3M's Investor Relations.