3M Company (MMM) To Go Ex-Dividend on November 22nd
3M Company (NYSE:MMM) declared a quarterly dividend on Tuesday, November 14th, RTT News reports. Stockholders of record on Friday, November 24th will be paid a dividend of 0.0118 per share by the conglomerate on Tuesday, December 12th. This represents a $0.05 annualized dividend and a dividend yield of 0.02%. The ex-dividend date of this dividend is Wednesday, November 22nd.
3M has increased its dividend by an average of 20.5% annually over the last three years and has increased its dividend annually for the last 58 consecutive years. 3M has a dividend payout ratio of 51.8% meaning its dividend is sufficiently covered by earnings. Analysts expect 3M to earn $9.63 per share next year, which means the company should continue to be able to cover its $4.70 annual dividend with an expected future payout ratio of 48.8%.
3M (NYSE MMM) opened at $231.49 on Tuesday. The firm has a market cap of $139,030.00, a price-to-earnings ratio of 25.63, a PEG ratio of 2.49 and a beta of 1.08. The company has a quick ratio of 1.47, a current ratio of 2.07 and a debt-to-equity ratio of 0.89. 3M has a 52 week low of $170.72 and a 52 week high of $238.90.
3M (NYSE:MMM) last announced its earnings results on Tuesday, October 24th. The conglomerate reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.12. The business had revenue of $8.17 billion during the quarter, compared to the consensus estimate of $7.93 billion. 3M had a net margin of 17.71% and a return on equity of 48.55%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.15 earnings per share. analysts anticipate that 3M will post 9.08 EPS for the current fiscal year.
Several analysts recently issued reports on MMM shares. Zacks Investment Research cut shares of 3M from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. BidaskClub cut shares of 3M from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Citigroup Inc. cut their price target on shares of 3M from $230.00 to $228.00 and set a “buy” rating on the stock in a report on Wednesday, July 26th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $210.00 price target on shares of 3M in a report on Friday, July 28th. Finally, Royal Bank Of Canada upped their price target on shares of 3M from $205.00 to $209.00 and gave the company a “sector perform” rating in a report on Wednesday, October 25th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $231.16.
In other news, insider Jon T. Lindekugel sold 400 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $230.06, for a total transaction of $92,024.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Khandpur K. Ashish sold 4,004 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $231.39, for a total transaction of $926,485.56. Following the transaction, the vice president now owns 5,236 shares of the company’s stock, valued at approximately $1,211,558.04. The disclosure for this sale can be found here. Insiders sold a total of 22,804 shares of company stock valued at $5,303,706 in the last quarter. 0.58% of the stock is currently owned by insiders.
3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, , appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.
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