What Happened to 3M in 2021?
The continued poor stock performance of 3M (NYSE: MMM) suggests investors are starting to lose patience with the company. The company's latest investor presentation saw management walking down the full-year guidance it had given at the end of October. As such, the stock is even falling off of value investors' radars and increasingly becoming an option only for dividend investors.
Let's take a closer look at what's happening and whether 3M has investment potential left in it.
3M CEO Mike Roman and CFO Monish Patolawala presented at a Credit Suisse industrials conference in early December. They promptly told investors that organic sales growth in the fourth quarter would come in the "bottom half" of the implied growth range of zero to negative 2%.
Source Fool.com
