Market Update: 3M Company (NYSE:MMM) – 3M to Sell Pressurized Polyurethane Foam Adhesives Business

[Business Wire] – 3M today announced that it has entered into an agreement to sell to Innovative Chemical Products Group , a portfolio company of Audax Private Equity, the assets of 3M’s Pressurized Polyurethane Foam Adhesives business , which is part of 3M’s Industrial Adhesives and Tapes Division. Read more on this. 3M Company (MMM) , with a current value of $84.73B, began trading this morning at $136.95. During the trading session, MMM traded between $136.55 to $137.69 and has traded between $134.00 and $170.50 over the past year. MMM shares are currently priced at 18.33x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 14.10x forward p/e ratio. The company pays shareholders $4.10 per share in dividend income per year, for a current yield of 2.90%. According to a consensus of 14 analysts, the earnings estimate of $1.63 per share would be $0.18 worse than the year-ago quarter and a $0.23 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $7.55 is a $0.06 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $7.21 Billion. If reported, that would be a 6.61% decrease over the year-ago quarter. More recently, Credit Suisse upgraded MMM from Neutral to Outperform (Sep 25, 2015). Previously, UBS Initiated MMM at to Buy. When considering if the stock is under or overvalued, the average price target is $159.29, which is 16.31% above where the stock opened this morning. See more in (NYSE:MMM) Similar Articles: Stock Update: 3M Company (NYSE:MMM) – 3M Completes Sale of Its Global Library Systems Business Company Update: 3M Company (NYSE:MMM) – 3M Sells Its Library Systems Business Stock Update: 3M Company (NYSE:MMM) – 3M Completes Acquisition of Polypore’s Separations Media Business