Bought 3 shares of 3M!
Three shares seems insignificant, but after the sale of my Modern Warfare Motif I wanted to reinvest the money into 2-4 companies with a history of raising dividends.
I purchased 3 shares of 3M Company on 3/9/16 for $160.59 a share.
Overview
3M (MMM) was founded in 1902 and was formerly known as the Minnesota Mining and Manufacturing company. In 2002, it began going by the name 3M Company. It is a conglomerate based out of Minnesota.
3M is a leading manufacturer in the following five business segments (% of net sales in 2015):
- Industrials (34.1%)
- Safety and Graphics (18.2%)
- Health Care (17.9%)
- Electronics and Energy (17.2%)
- Consumer (14.6%)
- Elimination of Dual Credit (-2%)
Industrials - Includes items such as manufacturing products for automobiles, electronics, packaging, food and beverages, and more.
Safety and Graphics Business - Major items in this segment include traffic safety and security items as well as reflective material used in construction work zones.
Health Care - Provide medical and surgical supplies to clinics, hospitals, pharmaceuticals, and dental practitioners. Also, manufacture medical tapes, dressings, wound closing products, etc for surgical needs.
Electronics and Energy - Provides products for LCD computers, televisions, cellphones, tablets, notebooks, and automotive displays.
Consumer - This is the area we are all familiar with including Scotch and Post-it branded items.
The list above shows just some of the areas and items 3M is involved in, but clearly it is involved in five business segments which are all part of our daily lives. No single segment accounts for over 35% of the business sales and the lowest is the Consumer segment, which brings in 14.6% of net sales.
$12 billion of the net sales were in the US accounting for 39.8% of worldwide sales. Net Sales internationally equaled $18.2 billion or 60.2% of the worldwide net sales.
