3M Co.  (MMM) - Get Report  issued new earnings guidance for 2019 Thursday, and said it has a five-year plan to boost shareholder returns after investors punished the stock after the company missed third-quarter profit estimates last month.

3M said it sees full-year 2019 adjusted earnings growth of as much as 11% on a , a figure that would take EPS to a target range of $10.60 to $11.05 each, modestly higher than the midpoint of $10.78 that Street analysts had pegged from last month's guidance. It also sees a 22% to 25% return on invested capital and 2% to 4% organic sales growth, when measured in U.S. dollars.

"As we work to deliver a strong close to 2018, we are positioning our company for success in 2019 and beyond - which includes taking actions around our four priorities," said CEO Mike Roman. "Our team is focused on growth, operational execution, and delivering for our customers and shareholders."

3M, a component of the Dow Jones Industrial Average, rose 0.7% in midday trading on Thursday. 

3M's new five-year financial objectives, which extend through 2023, include organic local currency sales growth of between 3% and 5%, adjusted earnings growth of between 8% and 11%, a 20% return on invested capital and a 100% free-cash flow conversion rate.

Last month, the maker of Post-it notes and Scotch brand adhesive tape reported third quarter profits of $2.58 a share, well shy of the Street consensus of $2.70, and lowered its full-year adjusted earnings guidance to a range of $9.90 to $10 a share. 

3M's safety and graphics business unit saw sales increase 7%, but the company's health care, electronics and energy and consumer businesses all experienced declining sales. The industrial unit's revenue was flat.