3M (MMM) Stock Today, November 24, 2025: Fresh Valuation Calls, New PFAS Ruling and What’s Next for Investors

Key Takeaways

3M stock (NYSE: MMM) heads into Monday, November 24, 2025, trading just below its 52‑week high after a ~32% one‑year gain and a total return of about 34–35% over the past 12 months. ^[1]
A new valuation note from Simply Wall St this weekend argues that 3M is only slightly undervalued, trading a few percent below its estimated fair value, while also pointing out that the stock now trades at a P/E above 26x vs roughly 12x for its industry, raising questions about upside from here. ^[2]
Institutional demand remains firm: a fresh MarketBeat report shows Handelsbanken Fonder AB boosted its 3M stake by 17%, and Wall Street’s consensus rating sits at “Moderate Buy” with an average price target around $175–178, implying mid‑single‑digit upside from Friday’s close. ^[3]
On the fundamentals, Q3 2025 results were strong: organic sales growth above 3%, adjusted EPS up 10% year over year, and full‑year EPS guidance raised to $7.95–$8.05. ^[4]
PFAS and environmental liabilities remain a key overhang. 3M won a new procedural victory in Maine last week and previously agreed to pay up to $10.3 billion over 13 years to settle U.S. drinking‑water claims related to “forever chemicals.” ^[5]
The board has confirmed a Q4 2025 dividend of $0.73 per share (about a 1.7% forward yield at recent prices) — continuing over 100 years of uninterrupted dividends, albeit after a reset that ended its decades‑long streak of annual increases in 2024. ^[6]

Note: Market prices and analyst views can change quickly. All figures are based on information available up to the U.S. close on Friday, November 21, 2025, and reporting published through November 23–24, 2025.

1. 3M Stock Price Snapshot Heading Into November 24, 2025

As Wall Street opens for the new week, 3M is trading from a position of strength.

Last close (NYSE, Nov 21, 2025):
- Price: $168.09, up 2.11% on the day. ^[7]
- Intraday range: roughly $165–$169. ^[8]
- Volume: about 3.1–3.2 million shares, slightly above recent averages. ^[9]
52‑week range: roughly $121.98 (low) to $172.85 (high). At $168, 3M trades about 38% above its 52‑week low and roughly 3% below its high. ^[10]
Performance:
- ~32% share‑price gain over the past year. ^[11]
- Total return (including dividends) closer to 34–35%. ^[12]

Technically, 3M is in a short‑term uptrend. Quant platform StockInvest recently upgraded MMM from “Hold/Accumulate” to “Buy Candidate” after Friday’s rally, highlighting rising volume, a constructive trend channel, and an estimated 9% upside over the next three months, with a statistically implied range of about $170–$192. ^[13]

In Europe, the Frankfurt‑listed 3M share (MMM.F) closed at €145.98 Friday and is also rated a “buy or hold candidate” by the same service. For Monday, November 24, their models point to a fair opening price near €144.80 and an intraday range around €144.6–€147.3, implying modest, low‑volatility trading conditions. ^[14]

2. Weekend Headlines: Valuation Debate and Institutional Buying

Simply Wall St: “Examining Current Valuation After Recent Share Price Strength”

The most directly 3M‑focused analysis published right before today’s session comes from Simply Wall St, which reviewed 3M’s valuation on November 23, 2025. ^[15]

Key points from that piece:

Their discounted cash flow (DCF) model suggests a fair value modestly above the current price — roughly in the mid‑$170s, versus Friday’s close at about $168, implying only low‑single‑digit undervaluation.
They highlight that the trailing P/E multiple is above 26x, compared with roughly 12x for the broader U.S. capital‑goods group, making 3M look expensive relative to peers even if it’s near “fair value” on a cash‑flow basis. ^[16]
The article also notes that total shareholder return over the last year is in the low‑30% range, which has helped repair sentiment after several years dominated by litigation headlines and restructuring noise. ^[17]

Taken together, the message is that the easy value case is largely gone. The stock may still have upside if 3M executes on its margin and earnings targets, but the valuation now embeds a much cleaner story than it did back when legal issues and the Solventum spin‑off first weighed on sentiment.

MarketBeat: Handelsbanken Fonder AB Ups Its Stake and Analysts Raise Targets

Another notable weekend development: MarketBeat reported that Handelsbanken Fonder AB increased its 3M position by 17% in the latest quarter, buying 38,501 additional shares and bringing its total holdings to about 265,360 shares, valued near $40.4 million at the end of the period. ^[18]

That same report pulls together recent analyst activity:

Royal Bank of Canada raised its price objective from $120 to $130 but kept an “underperform” rating, underscoring that not everyone on the Street is bullish after the run‑up.
Deutsche Bank, Barclays, UBS, and Wells Fargo all lifted their price targets into the high‑$170s to $190 range and maintain “buy” or “overweight” ratings. ^[19]
Across the firms tracked, 3M currently carries a “Moderate Buy” consensus, with eight buys, two holds and one sell and an average 12‑month price target around $175.10. ^[20]

Other data providers line up broadly with that picture: Wall Street Journal and Barchart compilations place the median target in the mid‑$170s to high‑$170s, with a Street‑high view around $199 and a low near RBC’s $130. ^[21]

From today’s vantage point, that implies roughly 4–6% upside to the average target — not a deep value discount, but still a positive skew if 3M can keep delivering on its guidance.

3. Fundamentals: Q3 2025 Results and Upgraded Guidance

The current rally is rooted in a clear improvement in 3M’s operating performance during 2025.

On October 21, 2025, 3M reported third‑quarter results that beat expectations and led management to raise full‑year guidance: ^[22]

Sales:
- GAAP sales: $6.5 billion, up 3.5% year over year.
- Adjusted sales (excluding manufactured PFAS products): $6.3 billion, up 4.1%, with adjusted organic growth of about 3.2%.
Profitability:
- GAAP EPS: $1.55, down from $2.48 a year earlier due to litigation, divestiture and transformation‑related items.
- Adjusted EPS:$2.19, up 10% vs. $1.98 in Q3 2024.
- GAAP operating margin: 22.2% vs. 20.9% last year.
- Adjusted operating margin:24.7%, up about 170 basis points.
Cash and capital returns:
- Operating cash flow: $1.8 billion.
- Adjusted free cash flow: roughly $1.3 billion.
- $0.9 billion returned to shareholders through dividends and buybacks in the quarter.

Guidance was nudged higher:

Adjusted EPS for 2025 increased to a range of $7.95–$8.05, up from $7.75–$8.00 previously.
Management also guided to >2.5% adjusted sales growth and 180–200 basis points of adjusted operating‑margin expansion vs. 2024, driven by a focus on higher‑margin products and cost discipline. ^[23]

This built on an earlier July 2025 guidance hike, when 3M told investors that the hit from U.S.–China tariffs would be smaller than feared, allowing it to raise its adjusted EPS outlook to $7.75–$8.00 at that time, and report a Q2 adjusted EPS beat on both profit and revenue. ^[24]

In short, 2025 has been the first clean year in a while where earnings, margins, and cash flow are trending up instead of being overwhelmed by restructuring charges and litigation accruals. That’s a big reason MMM looks and trades very differently today than it did 18–24 months ago.

4. Dividend: Stable at a New Level After the 2024 Reset

3M’s dividend story has also entered a new chapter — important context for income‑focused investors looking at the stock today.

Q4 2025 Dividend Confirmed

On November 4, 2025, 3M’s board declared a quarterly dividend of $0.73 per share for Q4 2025: ^[25]

Payable: December 12, 2025
Record date: November 14, 2025
At Friday’s close around $168, that works out to a forward yield of roughly 1.7–1.8%. ^[26]

3M’s investor‑relations release emphasized that the company has paid dividends “without interruption” for more than 100 years, underscoring management’s desire to keep shareholder payouts as a core part of the story despite restructuring and litigation costs. ^[27]

But the Dividend Growth Streak Broke in 2024

What’s different now is the level and trajectory of that dividend:

A detailed MarketMinute analysis, also from November 4, 2025, points out that 3M raised its dividend every year for 64 consecutive years, giving it “Dividend Aristocrat” and “Dividend King” status — until 2024, when the payout was cut from $1.51 to $0.70 per quarter. ^[28]
That cut was tied to two major shifts:
- The spin‑off of the health‑care business, Solventum (NYSE: SOLV), on April 1, 2024, which left a smaller, more focused industrial company behind. ^[29]
- The need to fund multi‑billion‑dollar settlements related to PFAS and Combat Arms earplug litigation, prompting a reset of the payout ratio to about 40% of adjusted free cash flow, down from around 60%. ^[30]

The Q4 2025 dividend marks continued stability at the new $0.73 level, not a return to the old $1.50+ run‑rate. For investors, that means:

The income stream is far safer relative to 3M’s current earnings and cash flow.
But the headline yield (around 1.7%) is modest compared with many other industrial and dividend‑oriented stocks.

If you’re evaluating MMM today, the dividend is no longer the primary attraction; it’s part of a broader total‑return story that leans more heavily on earnings growth and multiple stability.

5. Legal and PFAS Overhang: New Ruling, Old Settlement

Even as the financial picture improves, litigation remains the single biggest strategic risk that investors monitor.

PFAS Water‑System Settlement: Up to $10.3 Billion Over 13 Years

Back in 2024, 3M reached a landmark settlement with U.S. public water suppliers over PFAS (per‑ and polyfluoroalkyl substances) in drinking water:

In an April 1, 2024 press release, 3M announced that its settlement with public water suppliers had received final court approval.
The agreement calls for 3M to pay up to $10.3 billion over 13 years to help fund PFAS testing and remediation for systems that detect certain levels of contamination. ^[31]

3M continues to warn in its filings and earnings releases that PFAS‑related outcomes could still differ materially from expectations, citing the risk of new litigation, changing regulations, remediation costs, and insurance recoveries. ^[32]

New Development: Maine Lawsuits and Minnesota Fine

Just last week, Bloomberg Law reported on two notable developments involving 3M: ^[33]

The Minnesota Pollution Control Agency imposed a $2.8 million fine on 3M for hazardous waste violations allegedly connected to an incinerator site in Cottage Grove, Minnesota.
In a separate matter, the U.S. Court of Appeals for the First Circuit ruled that 3M is entitled to keep one of Maine’s PFAS liability lawsuits in federal district court under the federal‑office removal statute. The case concerns alleged contamination of fish, wildlife, surface and groundwater from PFAS, including interactions with firefighting foam that 3M developed as a federal contractor.

The ruling is procedural rather than a final judgment on liability, but it matters because:

Federal jurisdiction can shape the pace, cost and potential outcomes of complex environmental litigation.
It underscores how PFAS issues remain very much alive, even after the big drinking‑water settlement.

3M also explicitly lists PFAS and related litigation as a top risk factor in the Q3 earnings release and other filings, emphasizing that future costs could still differ from its current estimates. ^[34]

For stock investors, the takeaway today is that much of the headline PFAS risk has been quantified, but not fully put to bed. The recent Maine ruling and Minnesota fine are a reminder that environmental and regulatory news can still jolt sentiment.

6. Strategy and Catalysts: Beyond the Spin‑Off

A Leaner Post‑Solventum 3M

Since the Solventum spin‑off in 2024, 3M has been repositioning itself as a leaner industrial and consumer technology company, with core segments such as:

Safety & Industrial
Transportation & Electronics
Consumer

The company’s “3M Excellence” operating model — highlighted repeatedly in the Q3 2025 release — focuses on higher‑margin products, cost discipline, and accelerated innovation. Management is targeting around 1,000 new product launches between 2025 and 2027, according to commentary in recent analyses of its strategy. ^[35]

Upcoming Investor Event

Looking ahead, 3M has flagged an important near‑term catalyst:

The company will present at the Goldman Sachs Industrials and Materials Conference on Thursday, December 4, 2025, with Chairman and CEO William Brown scheduled to speak at 8:00 a.m. ET. The event will be webcast via 3M’s investor‑relations site. ^[36]

Investors will be watching that appearance for any:

Fine‑tuning of the 2025 outlook.
Early hints about 2026 targets for margins, EPS, and free cash flow.
Updates on PFAS and earplug settlement payments, portfolio moves, or the eventual monetization of 3M’s remaining Solventum stake.

Given how much of the stock’s recent rally has been driven by confidence in execution and margin expansion, any change in tone at this event could be market‑moving.

7. How 3M Stock Looks Today, November 24, 2025

Putting all of this together, here’s how 3M’s investment profile stacks up at the start of this trading week:

Bullish Points

Momentum + improving fundamentals: A 30%+ one‑year gain is backed by real improvements in organic growth, margins, and EPS, not just multiple expansion. ^[37]
Guidance moving up, not down: 3M has raised 2025 guidance twice this year and is now pointing to high‑single‑digit adjusted EPS growth with meaningful margin expansion. ^[38]
Institutional and analyst support: Major institutions such as Handelsbanken Fonder AB are adding to positions, and the consensus rating is “Moderate Buy”, with targets clustering in the mid‑$170s to high‑$170s. ^[39]
Balance sheet clarity improving: The PFAS water‑system settlement is quantified (up to $10.3B over 13 years), and earplug litigation has largely been addressed, allowing management to focus more heavily on operations and growth. ^[40]

Caution Flags

Valuation is no longer cheap: With a P/E north of 26x and the stock trading just below its 52‑week high, 3M now looks expensive vs. peers, and only slightly below DCF‑based fair value in some models. ^[41]
Litigation risk isn’t gone: The Maine PFAS case, Minnesota hazardous‑waste fine, and ongoing regulatory scrutiny show that environmental and product‑liability risks remain active, even after major settlements. ^[42]
Dividend is modest: At roughly 1.7%, the yield is not especially high, and the historic growth streak has already been broken, meaning investors can’t rely on automatic annual dividend hikes as they once did. ^[43]
Cyclical exposure: As a diversified industrial, 3M remains sensitive to global manufacturing cycles, tariffs, and macro slowdowns, which the company itself lists among key risk factors. ^[44]

Bottom Line for Today

On November 24, 2025, 3M is no longer a deeply discounted turnaround, but rather a re‑rated industrial compounder with residual legal risk:

The near‑term setup looks constructive: strong recent results, upward guidance revisions, supportive technicals, and a moderate consensus upside to Street targets.
At the same time, valuation, litigation, and a relatively low dividend yield mean investors need to be confident in 3M’s ability to sustain margin expansion and cash‑flow growth over several years for the current price to make sense.

For investors watching MMM today, the key questions are:

Do you believe 3M can execute on its 2025+ earnings and margin targets despite macro and legal headwinds?
Does the mid‑single‑digit expected upside to consensus targets, plus a sub‑2% yield, compensate for the remaining PFAS and regulatory risks?
How does 3M’s risk‑reward compare with other Dow industrials and global conglomerates that may have cleaner balance sheets or higher yields?

Those answers will likely determine whether Monday’s trading sees 3M as a continued buy‑the‑dip candidate, a hold near fair value, or a name to trim after a strong run.

This article is for informational purposes only and does not constitute financial advice, investment recommendation, or an offer to buy or sell any securities. Always do your own research or consult a licensed financial advisor before making investment decisions.