Is 3M Stock a Buy Now?
The manufacturing conglomerate is slowly turning a corner.
3M (NYSE: MMM) was once considered a stable blue chip stock, but major problems weighed down its shares in recent years. The diversified conglomerate struggled with sluggish sales in a chilly macro environment, safety-related recalls, and thousands of lawsuits related to its production and dumping of harmful chemicals.
The company also cut its dividend in 2024, which ended its long reign as a Dividend King, and in April, it spun off its healthcare division as Solventum (NYSE: SOLV). After ups and downs over the past five years, its stock is up by just 20% or so, while the S&P 500 has rallied by about 90%. On a total return basis (with dividends included), the index's performance has still more than doubled the conglomerates.
Image source: 3M.
