Strength in Wide-Moat 3M’s Industrial Segment Contributes to Solid End to 2016
We’re maintaining our $167 fair value estimate after wide-moat 3M’s industrial segment came roaring back in the fourth quarter, contributing toward a solid end to 2016. Consolidated revenue grew organically by 1.6% year over year to $7.3 billion in the quarter, with 3M’s industrial segment reporting strong organic revenue growth of 4.6% after five consecutive quarters of decline. Industrial segment improvement was broad-based, with the automotive OEM business generating double-digit sales growth...3M is a technology company. The company has four segments: Safety and Industrial, which consists of personal safety, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules; Transportation and Electronics, which consists of electronics, automotive and aerospace, commercial solutions, advanced materials, and transportation safety; Health Care, which includes medical solutions, oral care, separation and purification sciences, health information systems, drug delivery systems, and food safety; and Consumer, which consists of home improvement, stationery and office supplies, home care, and consumer health care.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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