3M shares jump after $7.35 billion PFAS settlement

3M Company shares rose 6.8% in morning trading on Wednesday after the company announced a $7.35 billion settlement to resolve approximately 99% of its outstanding PFAS personal injury claims related to firefighting foam.

The company disclosed the agreement on Tuesday evening. The settlement covers between 115,000 and 120,000 eligible plaintiffs and will be paid over nine years with a present value of $5.8 billion. The deal includes a $680 million reserve for remaining and future claims. 3M made no admission of liability as part of the settlement.

CEO William Brown said the deal "substantially reduces litigation uncertainty" for 3M.

The company's board also authorized a new $6 billion share repurchase program, bringing total buyback capacity to $7.5 billion with no set end date. The board declared a quarterly dividend of $0.78 per share for the fourth quarter of 2026.

UBS maintained its Buy rating on 3M stock with a $230 price target following the announcement.

The stock reached a fresh 52-week high of $194.14 during the trading session, surpassing its previous peak.

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