Stock Update: 3M Company (NYSE:MMM) – 3M Increases Dividend 35 Percent

3M Company (NYSE:MMM) [Business Wire] – The board of directors of 3M today declared a dividend on the company’s common stock of 85.5 cents per share for the first quarter of 2014, a 35 percent increase over the quarterly dividend paid in 2013.
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3M Company (MMM), valued at $88.27B, started the session at $130.15.
 
Looking at the equity, the company’s one day range is $129.98 to $131.60 and has traded between $91.40 and $134.16 over the past year.
 
Priced at 19.00x this year’s forecasted earnings, MMM shares are relatively inexpensive compared to the industry’s 44.86x forward p/e ratio.
 
And for dividend hunters, the company pays shareholders $2.54 per share annually in dividends, yielding 2.00%.
 
In a review of the consensus earnings estimate this quarter, 16 sell-side analysts are looking at $1.61 per share, which would be $0.20 better than the year-ago quarter and a $0.01 sequential increase. The full-year EPS estimate is $6.72 which would be a $0.40 better than last year’s full-year earnings.
 
The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $7.70 Billion. If realized, that would be a 4.19% increase over the year-ago quarter.
 
Recently, Argus downgraded MMM from Buy to Hold (Oct 27, 2011). Previously, Barclays Capital Initiated MMM at to Equal Weight.
 
The average price target for MMM shares by the analysts covering the stock is $128.44, which is 1.31% below where the stock opened this morning.
 
3M Company (NYSE:MMM), operates as a diversified technology company worldwide. It is company is involved in many areas; Industrial and Transportation, Health Care, Consumer and Office, Safety, Security and Protection Services, Display and Graphics, Electro and Communications and much more.
 
Tag Helper ~ Stock Code: MMM | Common Company name: 3M | Full Company name: 3M Company (NYSE:MMM) .

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