Tuesday, May 1, 2018

Recent Buy - 3M Company (MMM)

Friday April 27, I bought 6 shares of 3M Company at $ 194.61 per share plus commission.


3M Company operates as a diversified technology company worldwide. The company's Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and abrasion-resistant films, and paint finishing and detailing products. Its Safety and Graphics Business segment provides personal protection products, transportation safety products, commercial graphics systems, commercial cleaning and protection products, floor matting, roofing granules for asphalt shingles, and fall protection products. The company's Health Care segment offers medical and surgical supplies, skin health and infection prevention products, inhalation and transdermal drug delivery systems, dental and orthodontic products, health information systems, and food safety products. Its Electronics and Energy segment provides optical films; packaging and interconnection devices; insulating and splicing solutions; touch screens and touch monitors; renewable energy component solutions; and infrastructure protection products. The company's Consumer segment offers sponges, scouring pads, high-performance cloths, repositionable notes, indexing systems, home improvement and care products, and protective materials; and consumer and office tapes and adhesives. It serves automotive, electronics and automotive electrification, appliance, paper and printing, packaging, food and beverage, construction, medical clinics and hospitals, pharmaceuticals, dental and orthodontic practitioners, health information systems, food manufacturing and testing, consumer and office retail, office business to business, home improvement, drug and pharmacy retail, and other markets directly, as well as through wholesalers, retailers, jobbers, distributors, and dealers. The company was founded in 1902 and is headquartered in St. Paul, Minnesota.


MMM is a Dividend Champions with a 60 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 5.9, 11.2, 14.8 and 9.4. (DividendChampions.xls) 3M Company now pays dividends of $ 1.36 per share normally in March, June, September and December.


Details of my purchase:





Some ratings for MMM:

    Yahoo:  Mean Recommendation 2.7, 1y Target Est $ 237.92
    Reuters: Mean Rating 2.64
    Morningstar:  (***) 


At today's exchange rate, that purchase 6 shares of MMM will increase € 20.17 ($ 24.32) of my expected annual net dividend income and will increase my portfolio's projected annual net dividend income to € 12,640.00. With purchase price $ 194.61 plus commission ($ 3.50) my starting yield on cost is 2.79%. After this acquisition, MMM's weight of my portfolio is about 0.24% and its share of future annual dividend income is approximately 0.16%. My purpose is to add more MMM to my portfolio if the price remains at these levels.
 

Click here to see my portfolio.

Full Disclosure: Long MMM 

Thanks for stopping by!

6 comments:

  1. want to buy mmm but too expensive. fair value around 165$.

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  2. I call it Dividend King :)

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  3. And the top guy in 3M is a Swede from Malmö! Now thats a buy signal, right,!? :-) Thanx for a great blog! Just started one but only swedish language so far.

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  4. Hawk,

    Great purchase, an all-time great company. Not going any time soon. Loving it. Just keep stacking dividends.

    -Lanny

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  5. 3M is a great business with a very diverse product portfolio. I have been wanting to get into the stock but I haven't been able to pull the trigger yet. Great buy Hawk!

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  6. 3M now at $ 205. So great purchase!
    A great innovative compagny and dividend king.
    Great work Hawk and following your blog!

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