You should stick with the former parent

Article Excerpt

Diversified manufacturing firm 3M completed its plan to spin off its Health Care division as an independent firm, called Solventum, on April 1, 2024. Shareholders received one share of Solventum for every four shares they held. 3M still owns 19.9% of Solventum, but plans to sell those shares over the next five years. The spinoff will let both firms better focus on their main businesses. However, we prefer the former parent for your new buying. 3M COMPANY $101 is a buy for long-term gains. The company (New York symbol MMM; Manufacturing & Industry sector; Shares outstanding: 553.4 million; Market cap: $55.9 billion; Dividend yield: 2.8%; Takeover Target Rating: Medium; www.3m.com) makes more than 55,000 items, including Post-it notes, Scotch tape, Scotch-Brite cleaning products, Scotchguard protection and Thinsulate insulation. 3M has agreed to settle lawsuits related to the release of polyfluoroalkyl substances (PFAS) from its operations in several U.S. cities. PFAS chemicals resist heat, oil, stains and water and are used in a number of products. Under the…