3M Company (NYSE:MMM) Declares Quarterly Dividend of $0.78

Key Points

• 3M declared a quarterly dividend of $0.78 per share. Shareholders of record on August 24 will receive payment on September 11; the dividend implies an annualized payout of $3.12 and a 1.7% yield.
• The dividend appears well covered, with a current payout ratio of 37.3% and an expected future payout ratio of 32.0%, based on projected earnings of $9.75 per share next year.
• 3M’s latest quarterly results exceeded expectations: adjusted EPS was $2.40 versus the $2.25 consensus, while revenue reached $6.50 billion, up 2.5% year over year.

3M Company (NYSE:MMM - Get Free Report) declared a quarterly dividend on Friday, August 14th. Shareholders of record on Monday, August 24th will be paid a dividend of 0.78 per share by the conglomerate on Friday, September 11th. This represents a c) annualized dividend and a yield of 1.7%. The ex-dividend date is Monday, August 24th.

3M has decreased its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 1 years. 3M has a dividend payout ratio of 37.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect 3M to earn $9.75 per share next year, which means the company should continue to be able to cover its $3.12 annual dividend with an expected future payout ratio of 32.0%.

3M Trading Up 0.5%

Shares of NYSE MMM opened at $178.93 on Friday. The firm has a 50 day moving average price of $169.27 and a two-hundred day moving average price of $158.89. The stock has a market cap of $92.28 billion, a P/E ratio of 31.78, a price-to-earnings-growth ratio of 2.16 and a beta of 1.01. 3M has a 52-week low of $139.34 and a 52-week high of $184.90. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.91 and a current ratio of 1.24.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The conglomerate reported $2.40 EPS for the quarter, topping analysts' consensus estimates of $2.25 by $0.15. The company had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.40 billion. 3M had a net margin of 11.90% and a return on equity of 115.87%. 3M's revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.16 earnings per share. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. As a group, equities analysts forecast that 3M will post 8.95 EPS for the current year.

Insider Buying and Selling at 3M

In other news, insider Rodriguez Beatriz Karin Chavez sold 3,635 shares of the business's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $182.51, for a total value of $663,423.85. Following the transaction, the insider directly owned 14,035 shares of the company's stock, valued at $2,561,527.85. The trade was a 20.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.19% of the company's stock.

Institutional Investors Weigh In On 3M

A number of hedge funds have recently added to or reduced their stakes in MMM. FSA Advisors Inc. bought a new stake in shares of 3M in the 4th quarter valued at $1,625,000. PFA Pension Forsikringsaktieselskab bought a new position in 3M during the fourth quarter worth $65,009,000. Catalyst Funds Management Pty Ltd boosted its stake in 3M by 260.4% during the fourth quarter. Catalyst Funds Management Pty Ltd now owns 17,300 shares of the conglomerate's stock worth $2,770,000 after acquiring an additional 12,500 shares in the last quarter. Entropy Technologies LP acquired a new stake in 3M in the first quarter worth $10,945,000. Finally, Wealth Architects LLC increased its stake in 3M by 1,610.6% in the second quarter. Wealth Architects LLC now owns 27,267 shares of the conglomerate's stock valued at $4,415,000 after purchasing an additional 25,673 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors.

About 3M

3M Company, originally founded in 1902 as the Minnesota Mining and Manufacturing Company, is a diversified global technology and manufacturing firm headquartered in St. Paul, Minnesota. Over its history the company has expanded from mineral mining into a broad portfolio of industrial, safety, healthcare and consumer products, building a reputation for applied science and product innovation across many end markets.

3M's businesses span a wide range of product categories including adhesives and tapes, abrasives, filtration and separation technologies, personal protective equipment such as respirators, medical and dental products, industrial and automotive solutions, and a suite of consumer brands (for example, well-known office and home products).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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