3M Company (MMM) in St. Paul, Minn., is a diversified global manufacturer, technology innovator, and marketer of various products and services. While the company’s current 4.06% dividend yield looks attractive amid current, volatile market conditions, the stock has been underperforming the broader market over the past three years on investors’ disappointment around its weak financials and lower management guidance.
On April 25, 2022, MMM announced the acquisition of the technology assets of LeanTec, a provider of digital inventory management solutions for the automotive aftermarket segment in the United States and Canada. MMM’s Automotive Aftermarket Division’s President Dave Gunderson said, “This acquisition adds new levels of data integration and insights that will allow body shops greater visibility of their business operations, operational efficiency, and a better customer experience.”
