3M Company (NYSE:MMM) Plans Quarterly Dividend of $0.73

3M Company (NYSE:MMM) announced a quarterly dividend on Tuesday, November 4th. Stockholders of record on Friday, November 14th will be paid a dividend of 0.73 per share by the conglomerate on Friday, December 12th. This represents a c) dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, November 14th.

3M has increased its dividend by an average of 0.3%annually over the last three years and has raised its dividend annually for the last 1 consecutive years. 3M has a payout ratio of 34.9% indicating that its dividend is sufficiently covered by earnings. 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 Stock Up 1.1%

MMM stock traded up $1.84 during midday trading on Wednesday, hitting $162.43. The company’s stock had a trading volume of 135,249 shares, compared to its average volume of 3,606,820. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.84 and a quick ratio of 1.40. 3M has a twelve month low of $121.98 and a twelve month high of $172.85. The company’s fifty day moving average price is $157.29 and its 200 day moving average price is $151.79. The stock has a market capitalization of $86.29 billion, a P/E ratio of 25.93, a PEG ratio of 2.90 and a beta of 1.06.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, February 21st. The conglomerate reported $2.45 EPS for the quarter. The company had revenue of $8.38 billion during the quarter. 3M had a net margin of 13.70% and a return on equity of 98.47%. As a group, equities research analysts predict that 3M will post 7.8 EPS for the current year.

Insider Transactions at 3M

In related news, EVP Mark W. Murphy sold 19,061 shares of 3M stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $166.55, for a total transaction of $3,174,609.55. Following the sale, the executive vice president directly owned 6,594 shares of the company’s stock, valued at approximately $1,098,230.70. The trade was a 74.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christian T. Goralski, Jr. sold 6,165 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $150.18, for a total transaction of $925,859.70. Following the completion of the sale, the insider owned 2,900 shares in the company, valued at $435,522. This represents a 68.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.48% of the company’s stock.

Institutional Trading of 3M

A number of large investors have recently bought and sold shares of MMM. Nuveen LLC bought a new stake in shares of 3M during the 1st quarter valued at about $235,020,000. Alliancebernstein L.P. boosted its stake in 3M by 23.1% during the first quarter. Alliancebernstein L.P. now owns 3,127,734 shares of the conglomerate’s stock worth $459,339,000 after acquiring an additional 586,851 shares in the last quarter. Amundi grew its holdings in 3M by 20.7% in the first quarter. Amundi now owns 3,030,397 shares of the conglomerate’s stock worth $423,471,000 after purchasing an additional 519,302 shares during the period. Zurich Insurance Group Ltd FI bought a new stake in 3M in the first quarter valued at $68,822,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of 3M by 10.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,198,538 shares of the conglomerate’s stock valued at $616,597,000 after purchasing an additional 414,160 shares during the period. 65.25% of the stock is currently owned by institutional investors and hedge funds.

About 3M

3M Company provides diversified technology services in the United States and internationally. The company’s Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.