If you’ve held 3M stock for any significant length of time, you probably have some feelings about it. Mostly frustration. For decades, the company—officially known as Minnesota Mining and Manufacturing—was the ultimate "sleep well at night" investment. It was the stuff of legend, a Dividend King that hiked its payout for over 60 years straight.
Then things got messy.
Looking back at the 3m company stock price history, you see a chart that looks like a mountain range followed by a very long, painful valley. As of January 2026, the stock is finally finding its legs again, trading around $171. But to understand how we got here, you have to look at the massive legal shadow and the eventual "breakup" that changed the company’s DNA forever.
The Peak and the Long Slide Down
Back in early 2018, 3M was on top of the world. Shares were hitting all-time highs above $250. Investors loved the diversification. Whether it was Scotch tape, Post-it notes, or advanced industrial adhesives, 3M seemed invincible.
But then the litigation started to pile up. It wasn't just one thing. It was a dual-threat of massive class-action lawsuits.
First, you had the Combat Arms earplugs. More than 300,000 veterans and service members alleged that the earplugs were defective, leading to hearing loss. 3M's attempt to resolve this by putting its Aearo Technologies subsidiary into bankruptcy was a gamble that didn't immediately pay off, and the uncertainty sent investors running for the hills.
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Then came the "forever chemicals."
PFAS (perfluoroalkyl and polyfluoroalkyl substances) became a household name for all the wrong reasons. These chemicals, used in everything from non-stick pans to firefighting foam, don't break down in the environment. The liability for cleaning up water supplies across the U.S. was estimated in the tens of billions. Honestly, for a couple of years there, some analysts were questioning if the company could even survive. By 2023, the stock had plummeted into the $70s—a price point not seen in over a decade.
Key Milestones in the 3m company stock price history:
- January 2018: All-time high of approximately $259.
- 2020: COVID-19 volatility. While 3M made N95 masks, the industrial slowdown hit hard.
- June 2023: A massive $10.3 billion settlement for PFAS water contamination is announced.
- August 2023: A $6 billion settlement is reached over the earplug litigation.
- April 2024: The Solventum spinoff changes everything.
The 2024 Breakup: Solventum and the Dividend Cut
If you look at a chart of the 3m company stock price history in April 2024, you’ll see a weird gap. That wasn't just a bad trading day. 3M officially spun off its healthcare business into a new company called Solventum (SOLV).
Spin-offs are common, but this one was heavy.
Healthcare was 3M's most stable, high-margin business. By spinning it off, 3M got leaner, but it also lost a massive chunk of its cash flow. The result? The "unthinkable" happened. 3M slashed its dividend. For the "income at all costs" crowd, this was a betrayal. 3M was removed from the S&P 500 Dividend Aristocrats list.
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The stock price adjusted down to reflect the loss of the healthcare segment, but strangely, that’s when the "value" seekers started to move in.
The William Brown Era and the 2025 Recovery
The real turning point for the 3m company stock price history wasn't just settling lawsuits; it was the arrival of William Brown as CEO in May 2024.
He brought a "back to basics" mentality.
Investors were tired of hearing about courtrooms. They wanted to hear about material science and margin expansion. Under Brown, 3M started cutting the fat. They simplified their manufacturing footprint. They stopped making PFAS entirely by the end of 2025.
The market responded. Throughout 2025, the stock became one of the top performers in the industrial sector. It’s a classic turnaround story. By January 2026, the stock has rallied over 70% from its 2024 lows. Analysts who hadn't touched the stock in a decade, like those at J.P. Morgan and Barclays, started issuing "Buy" ratings again.
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Is it a "Buy" at $171?
Comparing 3M to the S&P 500 over the last 15 years is painful. If you put $1,000 into 3M 20 years ago, you’d have about $4,500 today (with dividends). The same $1,000 in the S&P 500? Over $8,000.
But looking back isn't how you make money.
The "new" 3M is a different beast. It's smaller, but it's more focused. The dividend yield is now a more sustainable 1.7% to 2%, which is a far cry from the 6% "yield trap" it looked like back in 2023.
What to watch for next:
- Earnings on Jan 20, 2026: This will be the first look at the full-year 2025 performance under the new structure.
- PFAS Personal Injury Suits: While the water contamination is mostly settled, individual health claims are still a lingering risk.
- Innovation Pipeline: Can they actually invent a new "Post-it" or "Scotch Tape" for the AI era? They’ve recently launched an AI-driven "Digital Materials Hub" to try and prove they've still got the magic.
Basically, the 3m company stock price history is a lesson in "reversion to the mean." When things looked their darkest in 2023, that was actually the best time to buy. Now that everyone is bullish again, the easy money has probably been made.
If you're thinking about jumping in now, you're betting on William Brown's ability to turn a slow-moving industrial giant into a nimble tech-adjacent manufacturer. It’s a tall order, but for the first time in a decade, 3M isn't just a "lawsuit play." It’s an actual company again.
Actionable Next Steps:
- Check the P/E Ratio: 3M is currently trading at a P/E of around 26. Compare this to historical norms (usually 15-18) to see if the recent rally has made it "expensive."
- Review your Dividend Strategy: If you're a dividend growth investor, remember 3M is no longer an "Aristocrat." You may need to look at companies like AbbVie or Lowe's if you require a 25+ year streak.
- Monitor Solventum (SOLV): Often in spin-offs, the "discarded" company performs better than the parent. Solventum has been on its own tear in late 2025, recently hitting highs near $86.