3M Company (MMM) To Go Ex-Dividend on November 13th

3M Company (NYSE:MMM) announced a quarterly dividend on Tuesday, November 3rd. Shareholders of record on Friday, November 13th will be given a dividend of $0.78 per share by the conglomerate on Friday, December 11th. This represents a $3.12 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, November 13th.

3M has decreased its dividend payment by an average of 0.1% annually over the last three years and has increased its dividend annually for the last 1 consecutive years. 3M has a payout ratio of 37.3% meaning its dividend is sufficiently covered by earnings. Analysts expect 3M to earn $9.86 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 31.6%.

3M Trading Up 0.5%

Shares of NYSE:MMM opened at $189.58 on Wednesday. The firm has a market cap of $97.96 billion, a price-to-earnings ratio of 28.25, a PEG ratio of 2.46 and a beta of 1.01. 3M has a 12 month low of $139.34 and a 12 month high of $196.90. The company’s fifty day simple moving average is $169.60 and its 200 day simple moving average is $162.10. The company has a quick ratio of 1.06, a current ratio of 1.41 and a debt-to-equity ratio of 3.01.

3M (NYSE:MMM) last released its earnings results on Tuesday, October 20th. The conglomerate reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.12. The firm had revenue of $6.60 billion during the quarter, compared to analysts’ expectations of $6.61 billion. 3M had a return on equity of 123.11% and a net margin of 14.01%. The company’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.19 EPS. As a group, research analysts forecast that 3M will post 9.14 EPS for the current fiscal year.

3M declared that its board has authorized a share repurchase program on Wednesday, November 4th that permits the company to repurchase $6 billion in outstanding shares. This buyback authorization permits the conglomerate to buy up to 6.6% of its stock through open market purchases. Share buyback programs are typically an indication that the company’s board believes its shares are undervalued.

3M Company Profile

3M is a diversified science and manufacturing company that develops products for businesses and consumers. Its offerings include workplace safety equipment, adhesives and abrasives, filtration materials, automotive and electronics components, and home and office products such as Post-it Notes and Scotch brand tapes. Founded in 1902 as the Minnesota Mining and Manufacturing Company, 3M began as a mining venture before expanding into materials science and industrial manufacturing. The company adopted the name 3M in 2002 and is headquartered in St. Paul, Minnesota.