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

3M Company (NYSE:MMM) declared a quarterly dividend on Tuesday, May 12th. Stockholders of record on Friday, May 22nd will be paid a dividend of 0.78 per share by the conglomerate on Friday, June 12th. This represents a c) dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Friday, May 22nd.

3M has decreased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 1 years. 3M has a payout ratio of 37.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect 3M to earn $9.35 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 33.4%.

3M Stock Up 3.2%

Shares of NYSE:MMM traded up $4.51 during trading on Wednesday, reaching $147.72. 3,321,897 shares of the stock were exchanged, compared to its average volume of 3,992,253. The company has a debt-to-equity ratio of 3.29, a current ratio of 1.59 and a quick ratio of 1.19. 3M has a 1-year low of $139.34 and a 1-year high of $177.41. The stock has a fifty day moving average of $148.24 and a two-hundred day moving average of $159.36. The firm has a market cap of $77.05 billion, a price-to-earnings ratio of 28.46, a price-to-earnings-growth ratio of 2.07 and a beta of 1.03.

3M (NYSE:MMM) last issued its earnings results on Tuesday, April 21st. The conglomerate reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.16. The company had revenue of $6 billion for the quarter, compared to analyst estimates of $6.04 billion. 3M had a return on equity of 104.75% and a net margin of 11.14%.3M’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.88 earnings per share. 3M has set its FY 2026 guidance at 8.500-8.700 EPS. Research analysts anticipate that 3M will post 8.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MMM has been the subject of a number of recent analyst reports. HSBC upped their price objective on 3M from $175.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. reduced their price objective on 3M from $182.00 to $178.00 and set a “neutral” rating for the company in a research note on Wednesday, April 22nd. Wells Fargo & Company increased their price target on 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft cut their price target on 3M from $181.00 to $171.00 and set a “hold” rating for the company in a research note on Wednesday, April 22nd. Finally, Morgan Stanley increased their price target on 3M from $160.00 to $165.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 21st. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, 3M presently has an average rating of “Hold” and a consensus price target of $171.17.

3M Company Profile

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).