3M Company (MMM, Financial) filed Quarterly Report for the period ended 2010-09-30.
3m Company has a market cap of $61.76 billion; its shares were traded at around $87.04 with a P/E ratio of 15.4 and P/S ratio of 2.7. The dividend yield of 3m Company stocks is 2.4%. 3m Company had an annual average earning growth of 10.3% over the past 10 years. GuruFocus rated 3m Company the business predictability rank of 3.5-star.MMM is in the portfolios of Bill Frels of Mairs & Power Inc. , Oak Value of Oak Value Capital Management, Arnold Van Den Berg of Century Management, Tweedy Browne of Tweedy Browne CO LLC, Jean-Marie Eveillard of First Eagle Investment Management, LLC, Brian Rogers of T Rowe Price Equity Income Fund, Diamond Hill Capital of Diamond Hill Capital Management Inc, Jeremy Grantham of GMO LLC, Bill Nygren of Oak Mark Fund, Robert Olstein of Olstein Financial Alert Fund, Pioneer Investments, Ken Heebner of CAPITAL GROWTH MANAGEMENT LP, Tom Gayner of Markel Gayner Asset Management Corp, Steven Cohen of SAC Capital Advisors, Mark Hillman of Hillman Capital Management, John Buckingham of Al Frank Asset Management, Inc., James Barrow of Barrow, Hanley, Mewhinney & Strauss, Ron Baron of Baron Funds, Kenneth Fisher of Fisher Asset Management, LLC, David Dreman of Dreman Value Management, Manning & Napier Advisors, Inc, Tom Russo of Gardner Russo & Gardner, Richard Aster Jr of Meridian Fund, Mario Gabelli of GAMCO Investors, Ruane Cunniff of Ruane & Cunniff & Goldfarb Inc, Dodge & Cox.
Repurchases of common stock are made to support the Companys stock-based employee compensation plans and for other corporate purposes. In February 2007, 3Ms Board of Directors authorized a two-year share repurchase of up to $7 billion for the period from February 12, 2007 to February 28, 2009. In February 2009, 3Ms Board of Directors extended this share repurchase authorization until the remaining $2.2 billion (as of September 30, 2010) is fully utilized.
Pursuant to Section 1503 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Act) which became effective August 20, 2010, the Company is required to disclose, in connection with the four mines it operates, certain safety information in its periodic reports filed with the SEC. During the quarter covered by this Report, the Little Rock, Arkansas, mine received citations for three violations as defined under Section 1503 (a)(1)(A) of the Act, from the Mine Safety and Health Administration (the Violations). The Little Rock facility received proposed assessments of $2,542 which are reportable under Section 1503 (a)(1)(F) of the Act. The Corona, California, mine received no citation for any Violation as defined, but had a proposed assessment for other violations in the total amount of $4,726. The Wausau, Wisconsin, mine received citations for eight Violations. The Wausau facility received proposed assessments of $11,811 which are reportable under Section 1503 (a)(1)(F) of the Act. The Pittsboro, North Carolina, mine received no citation for any Violations as defined, and had no proposed assessment. During the quarter, the Company did not receive any other citations or orders reportable under Section 1503(a)(1) or have other violations reportable thereunder, had no mining-related fatalities and had no pending legal action before the Federal Mine Safety and Health Review Commission.
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3m Company has a market cap of $61.76 billion; its shares were traded at around $87.04 with a P/E ratio of 15.4 and P/S ratio of 2.7. The dividend yield of 3m Company stocks is 2.4%. 3m Company had an annual average earning growth of 10.3% over the past 10 years. GuruFocus rated 3m Company the business predictability rank of 3.5-star.MMM is in the portfolios of Bill Frels of Mairs & Power Inc. , Oak Value of Oak Value Capital Management, Arnold Van Den Berg of Century Management, Tweedy Browne of Tweedy Browne CO LLC, Jean-Marie Eveillard of First Eagle Investment Management, LLC, Brian Rogers of T Rowe Price Equity Income Fund, Diamond Hill Capital of Diamond Hill Capital Management Inc, Jeremy Grantham of GMO LLC, Bill Nygren of Oak Mark Fund, Robert Olstein of Olstein Financial Alert Fund, Pioneer Investments, Ken Heebner of CAPITAL GROWTH MANAGEMENT LP, Tom Gayner of Markel Gayner Asset Management Corp, Steven Cohen of SAC Capital Advisors, Mark Hillman of Hillman Capital Management, John Buckingham of Al Frank Asset Management, Inc., James Barrow of Barrow, Hanley, Mewhinney & Strauss, Ron Baron of Baron Funds, Kenneth Fisher of Fisher Asset Management, LLC, David Dreman of Dreman Value Management, Manning & Napier Advisors, Inc, Tom Russo of Gardner Russo & Gardner, Richard Aster Jr of Meridian Fund, Mario Gabelli of GAMCO Investors, Ruane Cunniff of Ruane & Cunniff & Goldfarb Inc, Dodge & Cox.
Highlight of Business Operations:
Cash dividends paid to stockholders totaled $1.124 billion in the first nine months of 2010 compared to $1.070 billion in the first nine months of 2009. 3M has paid dividends since 1916. In February 2010, the Board of Directors increased the quarterly dividend on 3M common stock by 2.9 percent to 52.5 cents per share, equivalent to an annual dividend of $2.10 per share. This marked the 52nd consecutive year of dividend increases. Other cash flows from financing activities primarily include distributions to noncontrolling interests, changes in cash overdraft balances, and principal payments for capital leases.Repurchases of common stock are made to support the Companys stock-based employee compensation plans and for other corporate purposes. In February 2007, 3Ms Board of Directors authorized a two-year share repurchase of up to $7 billion for the period from February 12, 2007 to February 28, 2009. In February 2009, 3Ms Board of Directors extended this share repurchase authorization until the remaining $2.2 billion (as of September 30, 2010) is fully utilized.
Pursuant to Section 1503 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Act) which became effective August 20, 2010, the Company is required to disclose, in connection with the four mines it operates, certain safety information in its periodic reports filed with the SEC. During the quarter covered by this Report, the Little Rock, Arkansas, mine received citations for three violations as defined under Section 1503 (a)(1)(A) of the Act, from the Mine Safety and Health Administration (the Violations). The Little Rock facility received proposed assessments of $2,542 which are reportable under Section 1503 (a)(1)(F) of the Act. The Corona, California, mine received no citation for any Violation as defined, but had a proposed assessment for other violations in the total amount of $4,726. The Wausau, Wisconsin, mine received citations for eight Violations. The Wausau facility received proposed assessments of $11,811 which are reportable under Section 1503 (a)(1)(F) of the Act. The Pittsboro, North Carolina, mine received no citation for any Violations as defined, and had no proposed assessment. During the quarter, the Company did not receive any other citations or orders reportable under Section 1503(a)(1) or have other violations reportable thereunder, had no mining-related fatalities and had no pending legal action before the Federal Mine Safety and Health Review Commission.
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