3M Company (NYSE:MMM) Declares $0.73 Quarterly Dividend

Key Points

• 3M Company declared a quarterly dividend of $0.73 per share, payable on September 12th to shareholders of record as of August 25th, representing an annualized yield of 1.9%.
• The company reported earnings of $2.16 per share for the last quarter, exceeding analysts' expectations, along with a revenue of $6.16 billion, a 1.4% increase year-over-year.
• Various analysts have set target prices for 3M shares ranging from $160.00 to $170.00, with a consensus rating of "Hold" among investment analysts.

3M Company (NYSE:MMM - Get Free Report) announced a quarterly dividend on Friday, August 15th, RTT News reports. Stockholders of record on Monday, August 25th will be paid a dividend of 0.73 per share by the conglomerate on Friday, September 12th. This represents a c) dividend on an annualized basis and a dividend yield of 1.9%.

3M has a payout ratio of 34.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect 3M to earn $8.33 per share next year, which means the company should continue to be able to cover its $2.92 annual dividend with an expected future payout ratio of 35.1%.

3M Stock Performance

Shares of MMM traded down $4.39 during trading hours on Friday, reaching $152.26. 3,921,103 shares of the company traded hands, compared to its average volume of 4,231,796. The stock has a market capitalization of $81.10 billion, a P/E ratio of 21.18, a P/E/G ratio of 3.03 and a beta of 1.05. The company has a quick ratio of 1.20, a current ratio of 1.72 and a debt-to-equity ratio of 2.87. 3M has a 12-month low of $121.98 and a 12-month high of $164.15. The business has a fifty day moving average price of $150.97 and a 200-day moving average price of $147.19.

3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The conglomerate reported $2.16 earnings per share for the quarter, beating analysts' consensus estimates of $2.01 by $0.15. The firm had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.09 billion. 3M had a net margin of 16.01% and a return on equity of 96.48%. The business's quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.93 earnings per share. Equities analysts anticipate that 3M will post 7.8 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MMM shares. JPMorgan Chase & Co. set a $167.00 target price on shares of 3M in a research report on Friday, July 18th. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a research report on Thursday. Citigroup boosted their target price on shares of 3M from $141.00 to $160.00 and gave the company a "neutral" rating in a research report on Friday, May 30th. Wells Fargo & Company restated an "overweight" rating on shares of 3M in a research report on Friday, July 18th. Finally, Barclays set a $170.00 target price on shares of 3M in a research report on Friday, July 18th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $158.10.

3M Company Profile

3M Company provides diversified technology services in the United States and internationally. The company's Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.

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