Back to top

Analyst Blog

This page is temporarily not available.  Please check later as it should be available shortly. If you have any questions, please email customer support at support@zacks.com or call 800-767-3771 ext.  9339.

Diversified technology conglomerate 3M Company (MMM - Analyst Report) has recently announced a dividend of 63.5 cents per share or $2.54 on an annualized basis for second quarter 2013. The dividend is payable on Jun 12 to shareholders of record as of May 24.

3M has paid consecutive quarterly dividends for over 96 years. Based on the closing price of $110.59 as of May 14, 2013, the proposed dividend affirms a yield of 2.3%.

In addition, 3M has a share repurchase program in place, whereby it can repurchase shares worth $7.5 billion over a period of time. As of Mar 31, 2013, approximately $6.9 billion remained available under the existing share repurchase authorization.

3M has consistently returned significant cash to its shareholders. The company had reportedly returned $32 billion to its shareholders over the last 10 years through a combination of dividends and share repurchase transactions, accounting for about 89% of the reported net income. During the last reported quarter, 3M paid cash dividends of $440 million compared to $410 million in the first three months of 2012.

The company also has a healthy liquidity position. Cash and cash equivalents as of Mar 31, 2013 were relatively strong at $2.9 billion, while free cash flow for the three-month period was $670 million.

Formerly known as Minnesota Mining and Manufacturing Company, 3M was founded in 1902 and is currently based in St. Paul, Minnesota. The company operates as a diversified technology enterprise with manufacturing operations across 70 countries. Effective from first quarter 2013, the company has reorganized its segments to better serve its global customers. The realigned structure includes five operating segments compared to the erstwhile six segments of the company. The new business segments of 3M are Industrial, Safety and Graphics, Electronics and Energy, Health Care, and Consumer.

3M presently has a Zacks Rank #4 (Sell). Other leading players in the industry worth reckoning include Crane Co. (CR - Snapshot Report), Honeywell International Inc. (HON - Analyst Report), and Macquarie Infrastructure Company LLC (MIC - Snapshot Report), each carrying a Zacks Rank #2 (Buy).

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

Learn more

Start for as little as $4.50 per trade.

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
KNIGHTSBRIDG VLCCF 13.95 +11.24%
E*TRADE FINA ETFC 22.56 +4.93%
MODINE MANUF MOD 16.51 +4.89%
QUESTCOR PHA QCOR 83.31 +4.05%
CANADIAN SOL CSIQ 30.38 +4.01%