3M Co. (MMM) to Issue Quarterly Dividend of $1.11 on December 12th
3M Co. (NYSE:MMM) declared a quarterly dividend on Tuesday, November 8th. Investors of record on Friday, November 18th will be paid a dividend of 1.11 per share on Monday, December 12th. This represents a $4.44 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Wednesday, November 16th.
3M (NYSE:MMM) opened at 174.28 on Friday. The company has a 50 day moving average price of $170.85 and a 200 day moving average price of $173.38. 3M has a 12 month low of $134.64 and a 12 month high of $182.27. The firm has a market capitalization of $104.82 billion, a price-to-earnings ratio of 21.97 and a beta of 1.04.
3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, October 25th. The company reported $2.15 EPS for the quarter, beating the Zacks’ consensus estimate of $2.14 by $0.01. 3M had a return on equity of 42.27% and a net margin of 16.40%. The firm had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.72 billion. During the same period last year, the firm posted $2.05 earnings per share. The business’s revenue for the quarter was up .0% on a year-over-year basis. Analysts anticipate that 3M will post $8.18 earnings per share for the current fiscal year.
MMM has been the topic of a number of recent research reports. Jefferies Group lifted their price target on 3M from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, July 19th. Credit Suisse Group AG reissued an “outperform” rating and set a $186.00 price target (up from $178.00) on shares of 3M in a research note on Thursday, July 28th. Morgan Stanley reissued a “sell” rating and set a $168.00 price target on shares of 3M in a research note on Tuesday, August 23rd. Deutsche Bank AG reissued a “hold” rating and set a $164.00 price target on shares of 3M in a research note on Thursday, August 25th. Finally, Zacks Investment Research lowered 3M from a “hold” rating to a “sell” rating in a research note on Tuesday, September 27th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $170.19.
In other news, insider Julie L. Bushman sold 10,771 shares of the business’s stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $166.71, for a total transaction of $1,795,633.41. Following the completion of the sale, the insider now owns 34,093 shares in the company, valued at $5,683,644.03. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.58% of the company’s stock.
Several large investors have recently added to or reduced their stakes in MMM. Crawford Investment Counsel Inc. increased its stake in 3M by 2.2% in the third quarter. Crawford Investment Counsel Inc. now owns 22,296 shares of the company’s stock valued at $3,929,000 after buying an additional 481 shares in the last quarter. KCG Holdings Inc. increased its stake in 3M by 1,288.2% in the third quarter. KCG Holdings Inc. now owns 63,135 shares of the company’s stock valued at $11,126,000 after buying an additional 58,587 shares in the last quarter. ProShare Advisors LLC increased its stake in 3M by 2.2% in the third quarter. ProShare Advisors LLC now owns 407,616 shares of the company’s stock valued at $71,834,000 after buying an additional 8,689 shares in the last quarter. Profund Advisors LLC increased its stake in 3M by 2.6% in the third quarter. Profund Advisors LLC now owns 23,443 shares of the company’s stock valued at $4,131,000 after buying an additional 589 shares in the last quarter. Finally, Lincoln National Corp increased its stake in 3M by 19.8% in the third quarter. Lincoln National Corp now owns 3,588 shares of the company’s stock valued at $632,000 after buying an additional 593 shares in the last quarter. Hedge funds and other institutional investors own 65.68% of the company’s stock.
3M Company Profile
3M Company is a technology company. The Company operates through five segments. Its Industrial segment serves markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. Its Safety and Graphics segment serves markets for the safety, security and productivity of people, facilities and systems.
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