How To Put $100 In Your Retirement Fund Each Month With 3M Stock

3M Company MMM conducts operations in electronics, telecommunications, industrial, consumer and office, health care, safety and other markets. The company's businesses share technologies, manufacturing operations, marketing channels and other resources. 3M serves customers worldwide.

It will report its Q4 2024 earnings on Jan. 21, 2025. Wall Street analysts expect the company to post an EPS of $1.72, down from $2.42 in the year-ago period. According to data from Benzinga Pro, quarterly revenue is expected to be $5.82 billion, down from $7.69 billion in the year-ago period.

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The 52-week range of 3M stock price was $75.65 to $141.34.

3M's dividend yield is approximately 2.16%. It paid $2.80 per share in dividends during the last 12 months.

The Latest On 3M

On Oct. 22, the company announced its Q3 2024 earnings, posting net sales of $6.294 billion, a slight increase of 0.4% year-over-year, as reported by Benzinga. Adjusted net sales totaled $6.068 billion, up 1.5% and marginally beating the consensus of $6.057 billion. Adjusted EPS was $1.98, up 18% year-over-year, beating the consensus of $1.90.

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3M revised its fiscal 2024 adjusted EPS guidance to $7.20 – $7.30 from $7.00 – $7.30 versus the consensus of $7.26. The company revised adjusted total sales growth guidance to ~1% versus previously expected (-0.25% to +1.75%) and, on an organic basis, ~1% (from flat to +2% prior).

Check out this article by Benzinga for 10 analysts' insights on 3M.

How Can You Earn $100 Per Month As A 3M Investor?

If you want to make $100 per month – $1,200 annually – from 3M dividends, your investment value needs to be approximately $55,555, which is around 428 shares at $129.77 each. 

Understanding the dividend yield calculations: When estimating, you need two key variables – the desired annual income ($1,200) and the dividend yield (2.16% in this case). So, $1,200 / 0.0216 = $55,555 to generate an income of $100 per month.

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You can calculate the dividend yield by dividing the annual dividend payments by the stock’s current price.

The dividend yield can change over time due to fluctuating stock prices and dividend payments on a rolling basis.

For instance, assume a stock that pays $2 as an annual dividend is priced at $50. Its dividend yield would be $2/$50 = 4%. If the stock price rises to $60, the dividend yield drops to 3.33% ($2/$60). A drop in stock price to $40 will have an inverse effect and increase the dividend yield to 5% ($2/$40).

In summary, income-focused investors may find 3M stock an attractive option for making a steady income of $100 per month by owning 428 shares of stock. There may be more upside as investors benefit from the company's consistent dividend hikes. 3M has raised its dividend consecutively for the last 66 years. 

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