Scotch Tape maker 3M Co MMM is on a roll.The St. Paul, Minnesota-based company clocked a fresh 52-week high of $129.99 during Wednesday trading. 3M stock has seen a phenomenal 40.20% gain year-to-date, a hefty 56.56% rise over the past year and a solid 22.84% jump in the last month alone.But, is the rally sustainable? Let’s take a look at what the charts have to say.Bullish Technicals Fueling The Rally In 3M Stock Chart created using Benzinga Pro3M's technical indicators are signaling a strong bullish trend ...

The 3M Board of Directors today declared a dividend on the company's common stock of $0.70 per share for the third quarter of 2024. The dividend is payable September 12, 2024, to shareholders of record at the close of business on August 26, 2024. 3M has paid dividends to its shareholders without interruption for more than 100 years.Halliburton announced today that its board of directors has declared a 2024 third quarter dividend of seventeen cents a share on the Company's common stock payable on September 2 ...

Core Viewpoint - 3M Company's shares have significantly outperformed the market and its industry peers, reflecting strong financial performance and positive market conditions [1][3][11] Price Performance - 3M's stock closed at $127.05, nearing its 52-week high of $128.65, and well above its 52-week low of $71.36, indicating strong market confidence [2] Financial Performance - In Q2 2024, 3M reported adjusted net sales of $6.02 billion, a 1.1% year-over-year increase, driven by organic sales growth of 1.2% [3] - The Transportation and Electronics segment showed solid momentum, supported by demand in electronics, automotive, and aerospace markets [3] - The Safety and Industrial segment benefited from recovering demand, particularly in industrial adhesives, personal safety, and automotive aftermarket [4] Structural Reorganization - 3M is undertaking structural reorganization to streamline operations, which is expected to reduce costs and improve margins by 2025 [5] - The company's adjusted operating margin increased by 440 basis points year-over-year to 21.6% in Q2 2024 due to these actions [5] Shareholder Returns - In 2023, 3M returned $3.31 billion to shareholders through dividends and buybacks, and in the first half of 2024, it paid $1.2 billion in dividends and repurchased $421 million in shares [6] - The company expects a dividend payout ratio of approximately 40% of adjusted free cash flow in 2024 [6] Return on Equity - 3M's trailing 12-month return on equity (ROE) stands at 112.92%, significantly higher than the industry average of 29.32%, indicating efficient use of shareholders' funds [7] Stock Valuation - The stock's trailing 12-month price-to-earnings ratio is 13.49X, below the industry average of 20.92X, suggesting an attractive valuation for investors [8] Earnings Estimates - Earnings estimates for 2024 have increased by 1.6% to $7.20, while estimates for 2025 have risen by 1.4% to $7.84 over the past 60 days [9][10] Conclusion - Given the strong fundamentals, promising long-term prospects, and attractive valuation, adding 3M's stock to an investment portfolio is considered a prudent move [11]

This industrial giant is putting together an impressive comeback.3M (MMM -0.09%) has quietly emerged as one of the market's biggest turnaround stories, with the shares up almost 40% this year, back to their highest level since early 2022.Following a difficult post-pandemic period defined by supply-chain disruptions and inflationary-cost pressures, the latest update from the industrial conglomerate was highlighted by a growth rebound and wider profit margins.The headlines are positive, but does that make 3M ...

Management plans to generate organic growth by supporting the development of new products over the medium to long term, but it also has an exciting near-term plan to improve cash flow generation.By now, investors in 3M (MMM -0.09%) will know that the stock has appreciated significantly after the second-quarter earnings presentation. While the full-year earnings outlook improved slightly, the increase in the stock price is probably more attributable to new CEO William Brown's outline of his plan to generate ...

Investors are excited about the new CEO's plans to improve the company's performance.Shares in industrial giant 3M (MMM -0.97%) rose by a startling 24.8% in July, according to data from S&P Global Market Intelligence. This is a remarkable move, because it nearly all occurred on the day of the company's second-quarter earnings release.Why 3M stock soared in JulyThe second-quarter results were better than expected, and management upgraded its full-year margin growth guidance, leading to an increase in the low ...

Anurag Maheshwari to join 3M on September 1ST. PAUL, Minn., Aug. 1, 2024 /PRNewswire/ -- 3M (NYSE:MMM) announced today that Anurag Maheshwari is appointed Executive Vice President and Chief Financial Officer (CFO), effective September 1, 2024.Maheshwari currently serves as Executive Vice President and Chief Financial Officer for Otis Worldwide Corporation (Otis), a global leader in the manufacture, installation, and servicing of elevators and escalators, with customers and passengers in more than 200 countr ...

CHINA - 2024/07/16: In this photo illustration, 3M logo is displayed on a smartphone with a laptop ... [+] keyboard background. (Photo Illustration by Serene Lee/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty Images3M (NYSE: MMM) recently reported its Q2’24 results, with revenues and earnings beating the street estimates. The company reported adjusted revenue of $6.0 billion and earnings of $1.93 on a per-share and adjusted basis, compared to the consensus estimates of $5.9 billi ...

Kajdi Szabolcs/E+ via Getty Images Introduction I make mistakes. One of my biggest financial mistakes was underestimating the power of the surge in tech stocks that started last year, fueled by falling inflation rates and the exploding popularity of artificial intelligence. However, in general, I am quite happy with the way things are going, especially with regard to my most recent call, which was to expect a rotation from "growth" to "value" stocks and a general broadening of market strength. In recent mon ...

Key Takeaways3M shares recorded their largest ever one-day percentage gain on Friday after the maker of Scotch tape and Post-it Notes reported better-than-expected quarterly results and boosted its full-year profit outlook.The share price broke out from a pennant pattern on the highest weekly trading volume since early March, indicating a continuation of the current uptrend.Amid further upside, 3M shares may encounter overhead resistance on the chart at key levels including $128, $152, and $175.A pullback c ...