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3M Company (MMM)

NYSE - NYSE Delayed price. Currency in USD
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115.62+2.40 (+2.12%)
At close: 04:03PM EDT
114.80 -0.82 (-0.71%)
Pre-market: 08:27AM EDT

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  • j
    john
    Judge in FL agreeing to delay the next bellweather trial provides to me some evidence that there are some kind of legitimate negotiations going on.

    The PR on 3M side has also changed...now talking about needing to know how many people are actually damaged, how bad, and what they should get.

    Like they could think about valuing a settlement as enough to set up a trust for the really damaged people to go to for treatment and some kind of damage award based on scientifically determined severity - not valuing things as a hysterical, angry, emotional jury would.

    Lots more I could say here, but this improves 3M chances of avoiding bankruptcy.

    Now I am putting the probability of 3M BK at 70% in next 5 years.

    That is down from 90% before this development.
  • J
    John
    MMM is a great company, you are safe to buy just after the settlement.
  • L
    LT
    My understanding of 3M's CAE2 related events ... Next MDL trial pushed back from end of October to February '23 by Judge Casey Rodgers. I hope this means that settlement negotiations are going well. But there are still a few very important upcoming hearings.
    - 3rd circuit court to appeal bankruptcy protection for parent company; i.e. 3M. If successful, then settlement will be done by bankruptcy court as opposed to MDL jury trials/settlement. Also, J&J 7th circuit court "Texas 2-step" decision is expected this month
    - 11th circuit court to appeal government contractor defense. If successful, this will cease all CAE2 MDL cases
    - MDL trial appeals to reduce/overturn MDL jury verdicts
  • c
    chris
    I got out on Friday. I hated to sell. I really did, but I needed to use the $, while there was still some left.
    Most stocks are losing value. It isn't 3M only.
    GL to everyone. Hope the coming winter is better than I expect.
  • C
    Celia
    Went to 110?
  • L
    LT
    Apparently, enough progress was made during the last mediation session (9/15-9/16) that another session was ordered to start by 10/3. Hoping for about $4-8B settlement. If on lower end of this range, 3M share price will start going up.
  • B
    Baby
    MMM is trading at 10x forward earnings....in last 50 years it has traded at 9x once in 1980 when rates moved to 20%...... That is not today. 5% yield today, street projecting $12.00 future earnings..... for decades mutiple has been in high teens...
  • c
    chris
    My understanding is that Military Personnel were ordered by The Military to use 3M earplugs and they were allowed NO other options ( including their own ear protection of choice). Wouldn't this make The Military ultimately and definitively liable? 3M did not and does not issue orders of any kind, much less the mandatory use of their products, to Military Personnel. So, am I wrong here? This seems obvious. Did the Military disallow any options?
  • p
    pm190605
    3M up $2.70. A rising tide raises all boats??.....or is there an earplug settlement in the works?
  • R
    Randy Hundley
    3M has pension obligations does it not?

    In the UK, their central bank had to bail out the pension funds. And they did it right after they said they’d do whatever it takes to stop inflation. Boy, that had to be shortest fight against inflation in the history of the world.

    It’s tough to make money in bonds when interest rates are rising.

    When stocks, bonds, and real estate are all crashing, it is only a matter of time before US pension funds find themselves in the same pickle.

    I said this months ago, when 3M’s earnings are shrinking, markets are crashing, and debt loads are needing of a refinance — that’s when the sheet hits the fan. The writing will be on the wall.

    But if the Fed does a UK, go get yourself a wheelbarrow if you don’t have one.
  • J
    Jamesgang
    Taking 8000 employees out did nothing. What next? May I suggest getting rid of the top brass, dumping the woke agenda, contracting with the best lawyers in the world (not the cheapest), emboldening risk taking innovators instead of incrementalism, simplify peoples job and focus on growth
  • J
    Jim U.
    Painful stuff. I made the bet and was wrong so far. Cost basis now $148.86, catching the falling knife to the tune of 20k. I am sure others are far worse off and had more dollars invested. I will hold the line and wipe my tears with the dividend payments. The 82% div payout ratio is concerning though. I like to see 75% or less on payout to feel comfortable. Good luck to us all!
  • p
    pm190605
    Whey! That was exhausting....and gratifying - muted about six animated & video posts. Felt SOOO good.
  • L
    LT
    The 3M CAE2 mediation has started. Anybody know how to get daily updates?
  • S
    ShortMaster
    MMM trading $18 below its 200 MONTHLY moving avg is a buy signal
  • L
    LT
    No settlement with plaintiifs' lawyers. I am almost certain 3M is waiting for outcome of appeal of J&J's case that starts later this week. If ruling favors J&J, you will see 3M go up by a significant amount. If ruling goes against J&J, I would imagine a settlement end of 2023.
  • L
    LT
    My thoughts about 3M ...

    The Healthcare spinoff will be 3-3.5X EBITDA, which by the end of 2023 should result in roughly $28B-32B. 3M will retain 19.9% of spinco, with the rest going to shareholders. This means 3M will net roughly $6B from this spinoff.

    Given this spinoff will not occur until end of 2023, 3M will drag the CAE2 litigation settlement out to end of '23 or early '24 so that the company has the necessary funds to pay claimants. The hope is that litigation settlements will be < $6B.

    Given the reduction in outstanding 3M shares after the healthcare spinoff, 3M should be able to maintain current EPS and dividend levels. While this means that 3M will be a smaller (roughly $27B revenue) company, it will only have the PFAS litigation remaining (which have mostly been settled).

    So, by Q2 2024, 3M stock should once again be on a steady growth path. Just my 2 cents.
  • R
    Randy Hundley
    Boy, they sure are doing a great job painting the tape this morning. Let’s see if it lasts throughout the day.
  • C
    Christopher
    Mediation meeting between plaintiff and 3m was ordered to take place today. I don't know if they will announce anything any time soon regardless, but this stock could get quite volatile pretty soon
  • J
    Jamesgang
    More headcount reductions, reversing Advance 3M, stock continues to plummet. How about Roman and Monish be held accountable for this debacle.