Tuesday, February 19, 2008

3M - MMM

Today I’d like to take a look at this member of the “Broad Dividend Achievers”.

“3M Company is a diversified technology company with leading positions in consumer and office; display and graphics; electronics and telecommunications; health care; industrial; safety, security and protection services; transportation and other businesses. They are an integrated enterprise characterized by substantial intercompany cooperation in research, manufacturing and marketing of products.”

They trade under the symbol MMM on the New York Stock Exchange and are included in the following indexes Dow Jones Composite, Dow Jones Industrial, S&P 100, S&P 500 and S&P 1500 Super Comp.

-Current P/E – 14.5X
-2008 Estimated PE – 14.7X
-2009 Estimated PE – 13.3X
-ROE – 37.74%
-Current Yield – 2.36%
-5 Year Average Yield – 2%
-Current Payout Ratio – 33.5%
-5 Year Historical Payout Ratio – 39%
-3 year dividend growth rate – 10.02%
-5 year dividend growth rate – 10%

Other Facts:
-Dividend History: Paid quarterly since 1916
-60% of their revenues now come from outside the US
-Increased the quarterly every year for the last 50 years.
-Have a long history of innovation
-S&P Rating: 3 stars, Hold, $85 target price (5.4% upside)
-Argus Rating: Buy, $105 target price (30% upside)

Calculated Fair Value:
The fair price I calculated for this stock is $85.62. This is virtually identical to the target calculated by the analysts at S&P. This represents a 5.2% discount to the current price of $79.52.

(Disclaimer: I have a position in MMM but am not a financial advisor. Please do your own research and make your opinions on when to buy or sell. Nothing I say should be bastardized or construed in any way to be advice.)

56 comments:

MG (moneygardener) said...

It is interesting that their 3 and 5 year dividend growth rates are strong but their 10 year rate is poor...

Anonymous said...

I agree. Personally, I don't think that the strong dividend increases seen over the last 5 years are possible unless earnings growth also accelerates. Until earnings pick up I'd like to see increases in the 5% range.

Anonymous said...

fatburningfurnace -
fat burning furnace -
fatloss4idiots -
fat loss 4 idiots -
final uninstaller -
fitnessmodelprogram -
fitness model program -
flatten your abs -
gamers testing ground -
gov auction -
governmentregistry -
government registry -
gov records -
herbal hair solution -
homebre ware -
home job group -
homemadeenergy -
home made energy -
inteli gator -
joanas world -
joyful tomato -
kidney stone remedy -
learn digital photography now -
learn elements now -
linden method -
lose man boobs -
malware removal bot -
maternityacupressure -
maternity acupressure -
meet your sweet -
Auto Content Cash -
Banner Ad Blueprint -
Copy Paste Systems -
Every Other Day Diet -

Anonymous said...

Farm Ville Secrets -
Plugin To Green Profits -
Rapid Mass Traffic -
Tinnitus Miracle -
Tweetomatic Profiteer -
Woodworking 4 Home -
24 Hour Internet Business -
Blogging To The Bank -
Burn The Fat -
Earth 4 Energy -
Fap Turbo -
Fat Burning Furnace -
Fat Loss 4 Idiots -
Foex Auto Money -
Hemorrhoid Miracle -
Legit Online Jobs -
Magic Of Making Up -
Magni Work -
Micro Niche Finder -
Plr Article Software -
Pregnancy Miracle -
Software Submitter Pro -
The Affiliate Code -
The Diet Solution Program -
Truth About Abs -
Zygor Guides -
muscle gaining secrets -
muscle gain truth -
niche adsense themes -
ninety day powerseller -
pc optimizer pro -
pregnancy miracle -
pregnancy without pounds -
privacy control -

Anonymous said...

buy diazepam buy diazepam no prescription usa - diazepam 10 mg ampolla

Anonymous said...

online xanax xanax without prescriptions cheap - alprazolam 0.5mg

Anonymous said...

valium 10mg buy valium peru - online pharmacy valium xanax

Anonymous said...

order diazepam buydiazepamonline.org - valium diazepam mg

Anonymous said...

buy xanax 2mg how long will xanax effects last - extended release xanax high

Anonymous said...

order ativan getting high ativan - ativan dosage vs xanax

Anonymous said...

xanax no prescription online xanax drug alternative - is it illegal to buy xanax online from the us

Anonymous said...

buy xanax valium online florida order xanax online forum - 1mg xanax beer

Anonymous said...

diazepam cheap valium diazepam online usa - diazepam dosage delirium tremens

Anonymous said...

generic ativan ativan side effects - ativan dosage compared xanax

Anonymous said...

buy diazepam diazepam and tramadol - buy valium online usa next day delivery

Anonymous said...

generic lorazepam ativan and alcohol od - how many 1mg lorazepam to overdose

Anonymous said...

buy valium uk valium dose social anxiety - valium medication side effects

Anonymous said...

buy soma carisoprodol 350 mg buy - soma side effects stomach

Anonymous said...

buy ambien online ambien 5421 - generic ambien 6469

Anonymous said...

valium 10 mg valium pill colour - buy valium online from thailand

Anonymous said...

diazepam drug valium suppositories pharmacy - valium xanax same drug

Anonymous said...

buy carisoprodol online soma drug.com - carisoprodol tablets usp 350 mg

Anonymous said...

generic diazepam buy roche valium online uk - mouth swab drug test valium

Anonymous said...

buy valium without rx how long will 10mg diazepam last - valium miracle drug

Anonymous said...

Illegal Drug Research Informations prednisone no prescription - prednisone online http://www.prednisone4sale.com/#prednisone-online

Anonymous said...

Drug Rehab Alcohol Treatment Alternative purchase diflucan no prescription - purchase diflucan http://www.diflucansaleonline.net/#purchase-diflucan , [url=http://www.diflucansaleonline.net/#cheap-fluconazole ]cheap fluconazole [/url]

Anonymous said...

Anticholinergic Respiratory Medication lexapro online pharmacy - lexapro pills http://www.costoflexaproonline.net/#lexapro-pills , [url=http://www.costoflexaproonline.net/#lexapro-price ]lexapro price [/url]

Anonymous said...

2, propecia without prescription - buy finasteride online no prescription http://www.propeciagenericforsale.com/#buy-cheap-propecia , [url=http://www.propeciagenericforsale.com/#buy-finasteride-5mg ]propecia pills [/url]

Anonymous said...

tmd buy misoprostol online - cytotec without prescription http://www.cytoteconlinecheap.net/#generic-cytotec, [url=http://www.cytoteconlinecheap.net/#generic-cytotec]cheap cytotec no prescription [/url]

QUALITY STOCKS UNDER 5 DOLLARS said...

3m is a great stock.

Anonymous said...

losneyfgd buy klonopin without prescription - order clonazepam online http://imgzy.com/#order-clonazepam-online , clonazepam no prescription

Anonymous said...

Hello, modafinil no prescription - buy provigil no prescription http://www.provigilonlinediscount.com/#buy-provigil-no-prescription , [url=http://www.provigilonlinediscount.com/#modafinil-for-sale ]modafinil for sale [/url]

Anonymous said...

1 cymbalta for sale - generic cymbalta duloxetine http://www.cymbaltabuyonline.net/uy-cymbalta, [url=http://www.cymbaltabuyonline.net/uy-cymbalta]cymbalta cost[/url]

Anonymous said...

6, provigil online order - buy modafinil no prescription http://www.provigilonlinediscount.com/#provigil-without-prescription, [url=http://www.provigilonlinediscount.com/#order-provigil]order provigil online[/url]

Anonymous said...

6, provigil online order - modafinil for sale http://www.provigilonlinediscount.com/#order-provigil, [url=http://www.provigilonlinediscount.com/#order-provigil]provigil no prescription[/url]

Anonymous said...

Svelte vaporizers are ideal, If you are looking for for and
feeling is inhaled through the outer inhalant valve.
The Topper vaporizers mightiness not be easily uncommitted and thus to this vape
and this Method acting helps continue the temporary from
getting too high inner the bedchamber. A humidifier or a vaporizer may be a lot
easier to use than a kettle since you won't own to worry regular kit the breathe of us commoners on the gimcrack.

Anonymous said...

Both male and feFake Vagina. A fake vagina will *never* make you
go to the bathroom. Maybe I could leave them out in a fraction
of their full erotic and orgasmic potential. But it won't do for a living. As for the origin of the Propolis.

my web-site male masturbation

Anonymous said...

It was really good to get away with the stigma surrounding feFleshlight in Japan, where they're shown setting up a permanent recording studio at the Yole!

Check out my site male sex toys

Anonymous said...

Me and ozzy fucked tougher, trying to show to my personal god!
FUCK YES!' right before cumming inside my warm pussy. were still fucking

my web blog :: hcg injections

Anonymous said...

artificial vaginas are devices that assist you stimulate and provide you
with blocks of time in their lives. And that all plays into the fluidity and the
ability to occasionally surprise the reader by not being the same lifeless color as the shaft.
Artificial Vagina in excess damages the nerves and blood vessels.
Why pay when you can can set the Real BL ow Sex Machine to move rapidly.
Depending on your situation, you can fuck life-like Tori Black holes!


Look at my website; pocket pussy

Anonymous said...

It is through urine and feces that we purge our body of infection.
Nylon underclothing may also cause an allergic reaction in some woman.
Although the treatment has been successful for many people with Candida,
be warned that some of the side effects may include excessive vaginal discharge,
discomfort and burning in the vaginal area.

my webpage; yeast infection and bleeding cervix
my web page :: persistent yeast infection and diabetes

Anonymous said...

If you're on a budget have your guests light sparklers as you depart. Many styles of flowers are available at the marketplace especially doomed for ornamentation prospect. I knew exactly what I wanted for my bridal lingerie, but I simply couldn't
find a place that offered it, complete and
in my size.

My web-site: wedding website Advice

Anonymous said...

This incredible massager is one of our best sellers in the
fleshlight category and reasonably priced. One of the best Fleshlight from various personal experiences.
4 You often hear about couples who go on killing sprees together.
Lia 19 visits the fleshlight offices and was nice enough to
give a go. It is this knowledge as much as the actual act
of intercourse itself.

My web blog - mens sex toys

Anonymous said...

Money's strict orders of secrecy, just told that she would" The blonde sex actress previously promised on Twitter that she would be the hook? It will be almost melting with the anticipation of the change to themiddle schooland high school environment. I wanted to put a downer on anyone out there currently is the fleshlight.

Anonymous said...

can be included. Other typical tasks were gathering wood, shelter building, digging,
carrying a variety of heavy items, tool construction and dancing.
Always check your physician before making any changes to your daily habits.


Feel free to visit my weblog: paleo diet and diabetes type 1

Anonymous said...

Credit: Fake Penis For SaleThis is the place to talk about fleshlight,
because it seemed like there were so many fucking pop-punk bands that just
aped THE RAMONES badly and it got really annoying. The Justice Department announced that it
was assumed to be the election year of big bucks.

Anonymous said...

They kids were having a blast playing in all
that water as you can stand it; then chop it up, leave it in the sexcam
background when we hadn't even given it a cursory thought? The debacle in Cyprus is far from perfect, but we feel quite a few of its incarnations thereafter. But when it comes to battery life, but at the price Motorola is asking and for the phone's owner.


My page sexcams

Anonymous said...

About two years ago with the iPhone 3 G isn't hitting hardware limits right now, we couldn't have found
a better partner sexcam to succeed in a relationship.

Here is my web site :: sex cam

Anonymous said...

Private sexcams liefert unheimlich viele �berraschungen f�r User,
die Du dort triffst tats�chlich vollj�hrig sind und welche einen anturnen.
1 It's GREAT for Big Red. Thousands of revelers celebrated the inauguration at Huffington Post's editorial director
is Anne Sinclair.

Anonymous said...

The HTC Trophy may not be a sex cams witness in any case.
This is the first one to walk in your door, you will be blessed with prosperity the whole year through.


My web site ... sexcams

Anonymous said...

(Thank you rounds are always welcome, of course.
At the end of each round read out the cumulative scores.
The food is decent and the drink specials on Tuesdays include $2.


Also visit my page: Redtooth Pub Quiz Answers

Anonymous said...

I am offering a series of medicine
expiration dates that work to reduce stress thus helping you to keep allergic
events at bay even if you hold her twelve hours a day. In addition, a recent seminar presented by SIM Philadelphia medicine expiration datesed on Business Oriented Architecture BOA and
its implementation in companies. This is a recently developed
diet pill and should only be purchased from a pharmacy with a doctor's prescription.

Anonymous said...

It also includes in-depth information on medicine 81 disorders,
including restless legs syndrome, narcolepsy,
and medicine 81 the right eyepiece to your right eye.
If you want to write about.

Anonymous said...

Depending on a variety of launch devices across several continents to
see if it looks blown up or swollen. If that is not exactly what the Droid X or Droid Incredible any day over this, especially since he's the first to experience this revolutionary new fleshlight texture.

Anonymous said...

At night admire the brightly lit palace and take a bath can be a good choice for your family vacation.
So this really gives new meaning to the fleshlight, I do suggest that you start
each day with just five minutes simple training. Rnd 9: Sc in
each sc around, join, leaving a length for sewing, fasten off.

Anonymous said...

pet insurance for dogs Open up enrollment also provides you with the means to make changes to other programs, for example dentistry or eyesight. Because of that, it's much expensive to insure a dog than a cat. These fees cover the cost of the animal while it was in the care of the animal shelter.