MMM

3M (MMM) Price Target Decreased by 6.39% to 100.99

The average one-year price target for 3M (NYSE:MMM) has been revised to 100.99 / share. This is an decrease of 6.39% from the prior estimate of 107.89 dated March 28, 2024.

The price target is an average of many targets provided by analysts. The latest targets range from a low of 78.78 to a high of 117.15 / share. The average price target represents an increase of 10.93% from the latest reported closing price of 91.04 / share.

3M Declares $1.51 Dividend

On February 6, 2024 the company declared a regular quarterly dividend of $1.51 per share ($6.04 annualized). Shareholders of record as of February 16, 2024 received the payment on March 12, 2024. Previously, the company paid $1.50 per share.

At the current share price of $91.04 / share, the stock's dividend yield is 6.63%.

Looking back five years and taking a sample every week, the average dividend yield has been 4.23%, the lowest has been 2.64%, and the highest has been 7.01%. The standard deviation of yields is 1.14 (n=233).

The current dividend yield is 2.11 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is -0.48. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.02%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 2742 funds or institutions reporting positions in 3M. This is an increase of 69 owner(s) or 2.58% in the last quarter. Average portfolio weight of all funds dedicated to MMM is 0.29%, a decrease of 0.47%. Total shares owned by institutions increased in the last three months by 0.44% to 388,609K shares. MMM / 3M Company Put/Call Ratios The put/call ratio of MMM is 0.68, indicating a bullish outlook.

What are Other Shareholders Doing?

MMM / 3M Company Shares Held by Institutions

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 17,337K shares representing 3.13% ownership of the company. In it's prior filing, the firm reported owning 17,430K shares, representing a decrease of 0.54%. The firm increased its portfolio allocation in MMM by 3.79% over the last quarter.

VFINX - Vanguard 500 Index Fund Investor Shares holds 13,491K shares representing 2.44% ownership of the company. In it's prior filing, the firm reported owning 13,264K shares, representing an increase of 1.68%. The firm increased its portfolio allocation in MMM by 4.91% over the last quarter.

Charles Schwab Investment Management holds 12,081K shares representing 2.18% ownership of the company. In it's prior filing, the firm reported owning 12,037K shares, representing an increase of 0.36%. The firm increased its portfolio allocation in MMM by 3.91% over the last quarter.

Geode Capital Management holds 10,823K shares representing 1.96% ownership of the company. In it's prior filing, the firm reported owning 10,588K shares, representing an increase of 2.16%. The firm increased its portfolio allocation in MMM by 4.77% over the last quarter.

SCHD - Schwab U.S. Dividend Equity ETF holds 8,852K shares representing 1.60% ownership of the company. In it's prior filing, the firm reported owning 8,648K shares, representing an increase of 2.30%. The firm decreased its portfolio allocation in MMM by 3.55% over the last quarter.

3M Background Information
(This description is provided by the company.)

3M Company is a diversified corporation manufacturing a wide range of products, including abrasives, adhesive tape and related products, and consumer-electronics components. It is headquartered in St. Paul, Minnesota. 3M apply science in collaborative ways to improve lives daily. With $32 billion in sales, 96,000 employees connect with customers all around the world.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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