3M Company (MMM) To Go Ex-Dividend on November 14th

3M Company (NYSE:MMM) declared a quarterly dividend on Tuesday, November 4th. Shareholders of record on Friday, November 14th will be given a dividend of 0.73 per share by the conglomerate on Friday, December 12th. This represents a c) annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, November 14th.

3M has raised its dividend payment by an average of 0.3%annually over the last three years and has raised its dividend every year for the last 1 years. 3M has a dividend payout ratio of 34.9% meaning its dividend is sufficiently covered by earnings. Equities research 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

MMM traded up $2.40 during trading on Wednesday, hitting $171.07. 674,612 shares of the company traded hands, compared to its average volume of 3,597,079. 3M has a one year low of $121.98 and a one year high of $172.85. The stock’s fifty day moving average is $158.29 and its 200 day moving average is $152.88. The firm has a market cap of $90.88 billion, a P/E ratio of 27.33, a price-to-earnings-growth ratio of 2.90 and a beta of 1.06. The company has a quick ratio of 1.40, a current ratio of 1.84 and a debt-to-equity ratio of 2.54.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, February 21st. The conglomerate reported $2.45 EPS for the quarter. The business had revenue of $8.38 billion for the quarter. 3M had a return on equity of 98.47% and a net margin of 13.70%. As a group, equities analysts predict that 3M will post 7.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MMM. Deutsche Bank Aktiengesellschaft increased their target price on 3M from $177.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Morgan Stanley set a $160.00 price objective on 3M and gave the stock an “equal weight” rating in a report on Tuesday, October 21st. Barclays boosted their price objective on 3M from $172.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. raised their target price on shares of 3M from $175.00 to $178.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Finally, Royal Bank Of Canada lifted their target price on 3M from $120.00 to $130.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 22nd. Seven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $172.67.

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.