Why Shares in 3M Rose Only 1.6% in 2021
Shares of industrial giant 3M (NYSE: MMM) rose a paltry 1.6% in 2021, managing to underperform the S&P 500 by 25.2% over the year. The result reflects a disappointing year due to a combination of forces beyond 3M's control, and a failure to convince the market that management's restructuring actions are achieving tangible performance improvements.
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The following table showing the progression of management's full-year guidance gives a flavor of 3M's year. Further to the data in the table, management recently told investors that its fourth-quarter revenue would come to be in the bottom half of its guidance, implying full-year sales growth closer to 8% than 9%.
Source Fool.com