3M Company (MMM) to Issue Quarterly Dividend of $0.78 on June 12th

3M Company (NYSE:MMM) declared a quarterly dividend on Tuesday, May 12th. Stockholders of record on Friday, May 22nd will be given a dividend of 0.78 per share by the conglomerate on Friday, June 12th. This represents a c) annualized dividend 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 $9.36 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 33.3%.

3M Stock Performance

MMM stock opened at $149.16 on Wednesday. The stock has a 50-day moving average price of $147.24 and a 200-day moving average price of $158.66. 3M has a 1-year low of $139.34 and a 1-year high of $177.41. The company has a current ratio of 1.59, a quick ratio of 1.19 and a debt-to-equity ratio of 3.29. The firm has a market cap of $77.80 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 2.21 and a beta of 1.03.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, April 21st. The conglomerate reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.16. The firm had revenue of $6 billion during 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%.The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the company posted $1.88 EPS. 3M has set its FY 2026 guidance at 8.500-8.700 EPS. As a group, equities research analysts expect that 3M will post 8.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wolfe Research cut their price target on 3M from $205.00 to $186.00 and set an “outperform” rating for the company in a research note on Wednesday, April 8th. Wells Fargo & Company lifted their price target on 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. Citigroup cut their price target on 3M from $175.00 to $166.00 and set a “neutral” rating for the company in a research note on Monday, April 13th. UBS Group reiterated a “buy” rating on shares of 3M in a research note on Friday, March 13th. Finally, Morgan Stanley lifted their price target on 3M from $160.00 to $165.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 21st. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price 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).