3M Company (MMM, Financial) filed Annual Report for the period ended 2010-12-31.
3m Company has a market cap of $65.7 billion; its shares were traded at around $91.9 with a P/E ratio of 16 and P/S ratio of 2.5. The dividend yield of 3m Company stocks is 2.3%. 3m Company had an annual average earning growth of 10.5% over the past 10 years. GuruFocus rated 3m Company the business predictability rank of 3.5-star.Hedge Fund Gurus that owns MMM: Steven Cohen of SAC Capital Advisors, Kenneth Fisher of Fisher Asset Management, LLC, Manning & Napier Advisors, Inc, Steven Cohen of SAC Capital Advisors, Tom Russo of Gardner Russo & Gardner, George Soros of Soros Fund Management LLC. Mutual Fund and Other Gurus that owns MMM: Bill Frels of Mairs & Power Inc. , 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, Jean-Marie Eveillard of First Eagle Investment Management, LLC, Diamond Hill Capital of Diamond Hill Capital Management Inc, Brian Rogers of T Rowe Price Equity Income Fund, Bill Nygren of Oak Mark Fund, Jeremy Grantham of GMO LLC, Robert Olstein of Olstein Financial Alert Fund, Tom Gayner of Markel Gayner Asset Management Corp, Pioneer Investments, Mark Hillman of Hillman Capital Management, John Buckingham of Al Frank Asset Management, Inc., James Barrow of Barrow, Hanley, Mewhinney & Strauss, RS Investment Management, Ron Baron of Baron Funds, Ron Baron of Baron Funds, David Dreman of Dreman Value Management, Richard Aster Jr of Meridian Fund, Mario Gabelli of GAMCO Investors, Dodge & Cox.
Research and product development constitutes an important part of 3Ms activities and has been a major driver of 3Ms sales growth. Research, development and related expenses totaled $1.434 billion in 2010, $1.293 billion in 2009 and $1.404 billion in 2008. Research and development, covering basic scientific research and the application of scientific advances in the development of new and improved products and their uses, totaled $919 million in 2010, $838 million in 2009 and $851 million in 2008. Related expenses primarily include technical support provided by 3M to customers who are using existing 3M products; internally developed patent costs, which include costs and fees incurred to prepare, file, secure and maintain patents; and amortization of acquired patents.
In 2010, 3M invested about $12 million in capital projects to protect the environment. This amount excludes expenditures for remediation actions relating to existing matters caused by past operations that do not contribute to current or future revenues, which are expensed. Capital expenditures for environmental purposes have included pollution control devices such as wastewater treatment plant improvements, scrubbers, containment structures, solvent recovery units and thermal oxidizers at new and existing facilities constructed or upgraded in the normal course of business. Consistent with the Companys policies stressing environmental responsibility, capital expenditures (other than for remediation projects) for known projects are presently expected to be about $30 million over the next two years for new or expanded programs to build facilities or modify manufacturing processes to minimize waste and reduce emissions.
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3m Company has a market cap of $65.7 billion; its shares were traded at around $91.9 with a P/E ratio of 16 and P/S ratio of 2.5. The dividend yield of 3m Company stocks is 2.3%. 3m Company had an annual average earning growth of 10.5% over the past 10 years. GuruFocus rated 3m Company the business predictability rank of 3.5-star.Hedge Fund Gurus that owns MMM: Steven Cohen of SAC Capital Advisors, Kenneth Fisher of Fisher Asset Management, LLC, Manning & Napier Advisors, Inc, Steven Cohen of SAC Capital Advisors, Tom Russo of Gardner Russo & Gardner, George Soros of Soros Fund Management LLC. Mutual Fund and Other Gurus that owns MMM: Bill Frels of Mairs & Power Inc. , 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, Jean-Marie Eveillard of First Eagle Investment Management, LLC, Diamond Hill Capital of Diamond Hill Capital Management Inc, Brian Rogers of T Rowe Price Equity Income Fund, Bill Nygren of Oak Mark Fund, Jeremy Grantham of GMO LLC, Robert Olstein of Olstein Financial Alert Fund, Tom Gayner of Markel Gayner Asset Management Corp, Pioneer Investments, Mark Hillman of Hillman Capital Management, John Buckingham of Al Frank Asset Management, Inc., James Barrow of Barrow, Hanley, Mewhinney & Strauss, RS Investment Management, Ron Baron of Baron Funds, Ron Baron of Baron Funds, David Dreman of Dreman Value Management, Richard Aster Jr of Meridian Fund, Mario Gabelli of GAMCO Investors, Dodge & Cox.
Highlight of Business Operations:
The aggregate market value of voting stock held by nonaffiliates of the Registrant, computed by reference to the closing price and shares outstanding, was approximately $62.6 billion as of January 31, 2011 (approximately $56.3 billion as of June 30, 2010, the last business day of the Registrants most recently completed second quarter).Research and product development constitutes an important part of 3Ms activities and has been a major driver of 3Ms sales growth. Research, development and related expenses totaled $1.434 billion in 2010, $1.293 billion in 2009 and $1.404 billion in 2008. Research and development, covering basic scientific research and the application of scientific advances in the development of new and improved products and their uses, totaled $919 million in 2010, $838 million in 2009 and $851 million in 2008. Related expenses primarily include technical support provided by 3M to customers who are using existing 3M products; internally developed patent costs, which include costs and fees incurred to prepare, file, secure and maintain patents; and amortization of acquired patents.
In 2010, 3M invested about $12 million in capital projects to protect the environment. This amount excludes expenditures for remediation actions relating to existing matters caused by past operations that do not contribute to current or future revenues, which are expensed. Capital expenditures for environmental purposes have included pollution control devices such as wastewater treatment plant improvements, scrubbers, containment structures, solvent recovery units and thermal oxidizers at new and existing facilities constructed or upgraded in the normal course of business. Consistent with the Companys policies stressing environmental responsibility, capital expenditures (other than for remediation projects) for known projects are presently expected to be about $30 million over the next two years for new or expanded programs to build facilities or modify manufacturing processes to minimize waste and reduce emissions.
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