3M Co (MMM) Declares Quarterly Dividend of $0.86
3M (NYSE:MMM) announced a quarterly dividend on Monday, August 11th, Stock Ratings Network reports. Investors of record on Friday, August 22nd will be paid a dividend of 0.855 per share on Friday, September 12th. This represents a $3.42 annualized dividend and a dividend yield of 2.43%.
A number of research firms have recently commented on MMM. Analysts at Zacks reiterated a “neutral” rating on shares of 3M in a research note on Monday, July 28th. They now have a $152.00 price target on the stock. On the ratings front, analysts at Deutsche Bank reiterated a “hold” rating on shares of 3M in a research note on Friday, July 25th. They now have a $155.00 price target on the stock, up previously from $145.00. Finally, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of 3M in a research note on Friday, July 25th. They now have a $146.00 price target on the stock, up previously from $145.00. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. 3M currently has a consensus rating of “Hold” and a consensus target price of $144.25.
3M (NYSE:MMM) traded down 0.19% during mid-day trading on Monday, hitting $140.58. 1,919,082 shares of the company’s stock traded hands. 3M has a 1-year low of $112.36 and a 1-year high of $146.43. The stock has a 50-day moving average of $143.5 and a 200-day moving average of $138.0. The company has a market cap of $91.091 billion and a P/E ratio of 19.85.
3M (NYSE:MMM) last released its earnings data on Thursday, July 24th. The company reported $1.91 earnings per share for the quarter, meeting the analysts’ consensus estimate of $1.91. The company had revenue of $8.13 billion for the quarter, compared to the consensus estimate of $8.09 billion. During the same quarter last year, the company posted $1.71 earnings per share. 3M’s revenue was up 4.9% compared to the same quarter last year. On average, analysts predict that 3M will post $7.48 earnings per share for the current fiscal year.
In other 3M news, CEO Inge G. Thulin unloaded 13,749 shares of the stock on the open market in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $139.49, for a total value of $1,917,848.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
3M Company (NYSE:MMM) is a diversified technology company.
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