3M Company (NYSE:MMM) announced a quarterly dividend on Tuesday, February 7th. Shareholders of record on Friday, February 17th will be paid a dividend of 1.175 per share on Sunday, March 12th. This represents a $4.70 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date is Wednesday, February 15th. This is a boost from 3M Company’s previous quarterly dividend of $1.11.
Shares of 3M Company (NYSE:MMM) opened at 181.02 on Tuesday. 3M Company has a 52 week low of $150.91 and a 52 week high of $182.27. The firm has a market cap of $108.02 billion, a PE ratio of 22.18 and a beta of 1.04. The firm has a 50-day moving average price of $177.34 and a 200-day moving average price of $175.50.
3M Company (NYSE:MMM) last announced its earnings results on Tuesday, January 24th. The company reported $1.88 EPS for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.01. 3M Company had a return on equity of 43.82% and a net margin of 16.77%. The company had revenue of $7.33 billion for the quarter, compared to analysts’ expectations of $7.35 billion. During the same period last year, the firm earned $1.80 EPS. 3M Company’s revenue for the quarter was up .4% compared to the same quarter last year. On average, equities research analysts predict that 3M Company will post $8.62 earnings per share for the current year.
A number of equities analysts recently commented on MMM shares. Barclays PLC raised 3M Company from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $171.00 to $194.00 in a report on Monday, October 24th. Royal Bank Of Canada decreased their target price on 3M Company from $159.00 to $155.00 and set an “underperform” rating on the stock in a report on Wednesday, October 26th. RBC Capital Markets reaffirmed an “underperform” rating and issued a $155.00 target price (down from $159.00) on shares of 3M Company in a report on Wednesday, October 26th. Zacks Investment Research cut 3M Company from a “hold” rating to a “sell” rating in a report on Friday, October 28th. Finally, Goldman Sachs Group, Inc. (The) cut 3M Company from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $172.96 to $159.00 in a report on Monday, November 21st. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $180.17.
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In related news, insider Julie L. Bushman sold 10,424 shares of 3M Company stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $173.02, for a total value of $1,803,560.48. Following the completion of the transaction, the insider now owns 32,717 shares in the company, valued at $5,660,695.34. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Inge G. Thulin sold 7,929 shares of 3M Company stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $177.61, for a total value of $1,408,269.69. Following the completion of the transaction, the chairman now owns 206,576 shares of the company’s stock, valued at approximately $36,689,963.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,353 shares of company stock valued at $12,419,501. 0.58% of the stock is currently owned by company insiders.
About 3M Company
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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