3M Company (NYSE:MMM – Get 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.
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
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).
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