3M Co. (MMM, Financial), Simon Property Group Inc. (SPG, Financial), Schlumberger Ltd. (SLB, Financial) and Biogen Inc. (BIIB, Financial) have declined to their three-year lows.
3M declined to $155.82
The price of 3M shares declined to $155.82 on Oct. 4, which is only 3.2% above the three-year low of $150.81.
3M is an American international conglomerate with operations in the fields of industry, worker safety, health care and consumer goods. It produces a variety of products, including adhesives, abrasives, passive fire protection, window films and dental and orthodontic products. The company is a Dow Jones component as well as a component of the S&P 100.
The company has a market cap of $89.64 billion; its shares were traded around $155.82 with a price-earnings ratio of 18.82 and a price-sales ratio of 2.87. The trailing 12-month dividend yield is 3.63%. The forward dividend yield is 3.71%. 3M had annual average earnings growth of 6.10% over the past 10 years.
On Sept. 23, 3M announced it is introducing two new assembly solution collaborators, Rosenberger OSI and Molex, to the company’s Expanded Beam Optical Connector ecosystem, which currently includes inspection tool collaborators EXFO and Sumix.
Simon Property Group declined to $148
The price of Simon Property Group shares declined to $148 on Oct. 4, which is only 1.7% above the three-year low of $145.42.
Simon Property Group is an international real estate company that is currently the largest real estate investment trust in the U.S. It is also the largest shopping mall operator. The company operates from five retail real estate platforms, including regional malls, premium outlet centers, The Mills, community centers and international properties.
The company has a market cap of $45.59 billion; its shares were traded around $148 with a price-earnings ratio of 19.80 and a price-sales ratio of 7.99. The trailing 12-month dividend yield is 5.55%. The forward dividend yield is 5.69%. Simon Property Group had an annual average earnings growth of 4.90% over the past 10 years.
On Oct. 2, Simon Property Group announced an agreement with Rue Gilt Groupe to create a new multi-platform venture focused on digital value shopping. The REIT will contribute approximately $280 million to the new venture and, over the coming year, will promote it by utilizing a portion of its $100 million annual marketing budget and access to 2 billion annual shopper visits. The partnership has a combined database of over 35 million shoppers.
Schlumberger declined to $31.88
The price of Schlumberger shares declined to $31.88 on Oct. 4, which is only 2.7% above the three-year low of $31.03.
Schlumberger is the world’s largest oilfield services company. The company was founded in France, but has principal executive offices in all over the world, including in Paris, Houston, London, the Hague, Netherlands and Willemstad, Curacao.
The company has a market cap of $44.09 billion; its shares were traded around $31.88 with a price-earnings ratio of 21.25 and a price-sales ratio of 1.34. The trailing 12-month dividend yield is 6.28%. The forward dividend yield is 6.24%.
On Oct. 2, Schlumberger announced the closing of its previously announced joint venture with Rockwell Automation. The joint venture, which is called Sensia, is the oil and gas industry’s first digitally enabled integrated automation solutions provider aimed to improve efficiency and reduce risk. It is expected to generate initial annual revenue of around $400 million and employ around 1,000 individuals.
Biogen declined to $224
The price of Biogen shares declined to $224 on Oct. 4, which is only 3.7% above the three-year low of $215.78.
Biogen is an international biotechnology company specializing in the research, development and delivery of therapies for the treatment of neurodegenerative, hematologic and autoimmune diseases. Some of its products include Alprolix, Avonex, Eloctate, Fampyra and Gazyva.
The company has a market cap of $41.32 billion; its shares were traded around $224 with a price-earnings ratio of 8.33 and a price-sales ratio of 3.15. Biogen had an annual average earnings growth of 22.70% over the past decade.
On Oct. 1, Biogen announced an update to its senior leadership team. Alfred Sandrock has been named executive vice president of research and development in addition to his responsibilities as chief medical officer, while Alphonse Galdes has been appointed executive vice president of pharmaceutical operations and technology. These appointments were effective immediately. Michael D. Ehlers decided to step down from his role as executive vice president of research and development and will leave the company, effective Oct. 11.
Disclosure: I do not own stock in any of the companies mentioned in the article.
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