3M Corp Stock Price, News & Analysis

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.

3M has launched Noted by Post-it®, a new collection of aesthetically designed stationery and desktop accessories aimed at enhancing organization and productivity. This line includes a variety of products, such as notebooks and planner pads, combining Post-it's signature technology with fresh designs. Available at major retailers like Target and Amazon, items range from $3.99 to $12.99. The initiative reflects a commitment to inspiring creativity and providing tools for a personalized workspace, as stated by company executives.

3M Littmann Stethoscopes has partnered with eMurmur to launch two new educational apps aimed at enhancing auscultation skills for healthcare students and instructors. The Littmann Learning App helps clinicians detect and classify heart murmurs, offering 22 continuing education credits with a subscription. The Littmann University App facilitates virtual classrooms and group testing capabilities. This collaboration addresses challenges posed by remote learning during the pandemic, aiming to improve training and patient care.

On Dec. 14, 2020, 3M announced the launch of its next generation silicone adhesive, 3M™ Hi-Tack Silicone Adhesive Tapes. The first product is the 2480 3M™ Single Coated Medical Nonwoven Tape, designed to enhance adhesion and wear time for medical devices. This adhesive provides up to four days of wear, supports heavier devices, and retains the pliability and comfort of traditional silicone adhesives. The product is compatible with various medical applications and sterilization processes, forming part of a broader portfolio set to expand in 2021.

3M (NYSE: MMM) reported an 8% year-on-year sales increase for November 2020, totaling $2.9 billion. Organic local-currency sales rose 7%, with divestitures negatively impacting sales by 1%. Key growth areas included a 16% increase in both Safety and Industrial and Consumer segments. Sales grew 10% in EMEA, 9% in the Americas, and 5% in Asia Pacific. Through November, total sales reached $5.7 billion, with estimates for Q4 ranging between $8.2 billion and $8.4 billion. However, macroeconomic uncertainty persists, with potential risks identified in forward-looking statements.