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

3M Company (NYSE:MMM) declared a quarterly dividend on Tuesday, February 3rd. Investors of record on Friday, February 13th will be paid a dividend of 0.78 per share by the conglomerate on Thursday, March 12th. This represents a c) annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, February 13th. This is a 6.8% increase from 3M’s previous quarterly dividend of $0.73.

3M has decreased its dividend payment 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 34.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect 3M to earn $8.33 per share next year, which means the company should continue to be able to cover its $2.92 annual dividend with an expected future payout ratio of 35.1%.

3M Trading Up 3.9%

Shares of NYSE MMM traded up $6.10 during midday trading on Wednesday, hitting $161.78. 1,262,716 shares of the company traded hands, compared to its average volume of 4,209,650. The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.33 and a current ratio of 1.71. 3M has a 12-month low of $121.98 and a 12-month high of $174.69. The stock has a 50-day moving average price of $163.69 and a 200 day moving average price of $159.73. The firm has a market cap of $85.94 billion, a P/E ratio of 26.98, a P/E/G ratio of 2.15 and a beta of 1.09.

3M (NYSE:MMM) last announced its earnings results on Tuesday, January 20th. The conglomerate reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.03. 3M had a return on equity of 95.36% and a net margin of 13.03%.The firm had revenue of $6 billion during the quarter, compared to analyst estimates of $6.03 billion. During the same quarter in the prior year, the company earned $1.68 EPS. The business’s revenue was up 1.5% compared to the same quarter last year. 3M has set its FY 2026 guidance at 8.50-8.700 EPS. As a group, analysts expect that 3M will post 7.8 earnings per share for the current year.

Insiders Place Their Bets

In other 3M news, EVP Zoe L. Dickson sold 13,826 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $169.78, for a total value of $2,347,378.28. Following the sale, the executive vice president owned 6,162 shares in the company, valued at $1,046,184.36. The trade was a 69.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.48% of the company’s stock.

Hedge Funds Weigh In On 3M

Several institutional investors have recently added to or reduced their stakes in the company. GFG Capital LLC bought a new stake in 3M in the second quarter worth $28,000. J.Safra Asset Management Corp bought a new stake in shares of 3M in the 3rd quarter valued at approximately $34,000. Westside Investment Management Inc. raised its holdings in 3M by 77.4% during the 3rd quarter. Westside Investment Management Inc. now owns 243 shares of the conglomerate’s stock valued at $38,000 after buying an additional 106 shares during the period. EQ Wealth Advisors LLC bought a new stake in 3M in the fourth quarter worth $40,000. Finally, Cloud Capital Management LLC bought a new position in 3M during the third quarter valued at $50,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

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).