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

3M Company (NYSE:MMMGet Free Report) declared a quarterly dividend on Friday, August 14th. Shareholders of record on Monday, August 24th will be given a dividend of 0.78 per share by the conglomerate on Friday, September 11th. This represents a c) dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Monday, August 24th.

3M has decreased its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 1 years. 3M has a payout ratio of 37.3% meaning its dividend is sufficiently covered by earnings. Analysts expect 3M to earn $9.75 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 32.0%.

3M Trading Up 0.5%

NYSE MMM opened at $178.93 on Friday. The firm’s fifty day moving average is $169.27 and its two-hundred day moving average is $158.89. 3M has a one year low of $139.34 and a one year high of $184.90. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.91 and a current ratio of 1.24. The firm has a market cap of $92.28 billion, a PE ratio of 31.78, a P/E/G ratio of 2.16 and a beta of 1.01.

3M (NYSE:MMMGet Free Report) last announced its earnings results on Tuesday, July 21st. The conglomerate reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.15. 3M had a net margin of 11.90% and a return on equity of 115.87%. The business had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.40 billion. During the same quarter in the prior year, the firm earned $2.16 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. 3M has set its FY 2026 guidance at 8.800-8.950 EPS. Analysts expect that 3M will post 8.95 earnings per share for the current year.

Insider Transactions at 3M

In other news, insider Rodriguez Beatriz Karin Chavez sold 3,635 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $182.51, for a total value of $663,423.85. Following the completion of the transaction, the insider owned 14,035 shares in the company, valued at $2,561,527.85. This trade represents a 20.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MMM. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in 3M by 7.4% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,935,534 shares of the conglomerate’s stock valued at $637,202,000 after buying an additional 270,458 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of 3M by 653.6% during the 1st quarter. SG Americas Securities LLC now owns 2,369,879 shares of the conglomerate’s stock worth $344,178,000 after acquiring an additional 2,055,419 shares in the last quarter. PFA Pension Forsikringsaktieselskab acquired a new stake in shares of 3M in the 4th quarter worth approximately $65,009,000. Ascentis Wealth Management LLC grew its holdings in shares of 3M by 22,972.5% in the 2nd quarter. Ascentis Wealth Management LLC now owns 347,472 shares of the conglomerate’s stock worth $56,259,000 after acquiring an additional 345,966 shares during the period. Finally, Handelsbanken Fonder AB increased its stake in 3M by 1.5% in the 4th quarter. Handelsbanken Fonder AB now owns 271,777 shares of the conglomerate’s stock valued at $43,511,000 after purchasing an additional 4,101 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

About 3M

(Get Free Report)

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).

See Also

Dividend History for 3M (NYSE:MMM)

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