MMM Stock Recent News

3M Co (NYSE:MMM) shares traded higher after it announced that its $10.3 billion settlement with public water suppliers to address synthetic “forever chemicals” known as PFAS in drinking water has received final approval from the US District Court in Charleston, South Carolina.   The settlement will support US public water suppliers to carry out PFAS remediation where these chemicals have been detected at any level.

3M (MMM) faced a lawsuit over contaminating drinking water with “forever chemicals.” Renita Young discusses this as the $12.5B settlement agreement receives final court approval.

Two big announcements from 3M (MMM) sent shares of the conglomerate higher Monday.

3M Co. MMM, says that its previously-announced $12.5 billion settlement agreement with U.S. public water suppliers has received final approval from the U.S. District Court in Charleston, South Carolina. Last year 3M improved the terms of the proposed settlement of $10.5 billion to $12.5 billion for the company's role in the contamination of drinking water with per- and polyfluoroalkyl substances, also known as PFAS or “forever chemicals.

Solventum – a healthcare unit that 3M Co (NYSE: MMM) spun off in March will begin trading on the New York Stock Exchange today. Ahead of it, $MMM is down 15% in premarket.

3M Company is facing challenges with falling organic sales, shrinking profitability and potential further lawsuits. The company has initiated restructuring by reducing workforce, spinning-off Health Care unit and transitioning to export-led business model with potential $700 to $900 million annual benefit. While the effects of the restructuring are to be seen, the combat earplug and PFAS lawsuits appear to be mostly resolved on the surface.

3M (MMM) closed at $104.59 in the latest trading session, marking a +1.91% move from the prior day.

I bought 3M reasoning that the problems that have dragged the stock down are survivable. I sold 3M because the issues were virtually impossible to track and resulted in frequent surprise updates.

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Shares of 3M Co. MMM, -1.82% slipped 0.3% in premarket trading Tuesday, after the consumer, industrial and healthcare-products company said it would pay $6 billion as part of a “final resolution” to its Combat Arms Earplug litigation. The company said the payments will be made between 2023 and 2029.