Investors don’t seem to understand the significance of 3M’s recent PFAS settlement with New Jersey, according to BofA Securities.

M will pay the state of New Jersey up to $450 million through the next 25 years to settle claims of PFAS contamination. The Maplewood-based manufacturer sold the “forever chemicals” to the DuPont Chambers Works facility in the Garden State for many years.

The agreement would resolve 3M's liability for PFAS contamination from the Chambers Works complex in Pennsville and Carneys Point in Salem County.