3M Rewards Shareholders with Dividend Hike

Industrial conglomerate 3M Co. (NYSE: MMM) recently announced a quarterly dividend of $1.49 per share, a marginal increase from the previous dividend of $1.48.

The dividend will be paid on March 12, 2022, to shareholders of record as of February 18, 2022.

Following the news, shares of the company declined marginally to close at $162.27 in Tuesday’s extended trading session.

The company’s annual dividend of $5.96 per share now reflects a dividend yield of 3.7% based on Tuesday’s closing price.

Stock Ratings

Recently, Deutsche Bank analyst Nicole Deblase reiterated a Hold rating on the stock. The analyst, however, lowered the price target from $192 to $189, which implies 16.4% upside potential from current levels.

Consensus among analysts is a Hold based on 1 Buy, 7 Holds and 4 Sells. The average 3M stock prediction of $180.45 implies upside potential of 11.1% from current levels. Shares have declined 10.2% over the past year.

News Sentiment

News Sentiment for MMM is Neutral based on 27 articles over the past seven days. 100% of the articles have Bearish sentiment, compared to the sector average of 39%.

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