It appears that 3M's stock is for the most part steady; however, this sharp decline isn't the first time. According to this article/profile on The Dividend Guy.com website, 3M has had a drop in stock price in the past. It seems as though 3M is capable making quick turnarounds in terms of their stock prices and revenues. This is what The Dividend Guy had to suggest a few years ago to those thinking about purchasing 3M stock:
Based on MMM’s current price of $95.62 (10/10/07), I am putting this stock at a hold. There was a real sharp drop a few months ago in 3M’s share price, but the company has since rebounded and is hitting new highs. That being said, the dividend growth has been very good so if someone is looking for a pretty steady stock, then MMM may fit that bill. Personally, I will wait to see if the stock drops to around the $85 level before making a purchase.
Looking at a one year trend, it appears that 3M has a couple periods where their stock prices have dropped; typically in June/July and November/December.
http://www.thedividendguyblog.com/dividend-stock-wednesday-3m-inc-mmm/
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