#3 - 3M (NYSE:MMM)
3M (MMM) At the J.P. Morgan (NYSE:JPM) Industrials conference on March 10, 3M (NYSE:MMM) CEO Mike Roman estimated that the company’s potential revenue for respiratory products related to the coronavirus outbreak could be around $250 million.
While that should provide a boost to the company’s top line numbers heading into a quarter that is going to be brutal for most companies. But that’s not the reason why I like 3M. The reason I find 3M appealing is that the company is sort of a contrarian. Where other companies are becoming hyper-niche focused, 3M maintains a broad reach into other sectors beyond health care.
One of those sectors is manufacturing. That sector’s recovery is being delayed due to the voluntary and (perhaps mandatory) quarantines that will keep down production. But, at this time, manufacturing is expected to have a strong push later this year and into 2021.
And like many stocks on this list, 3M is a dividend aristocrat. It has a very attractive dividend yield of just under 4% (3.99 as of this writing) and has increased its dividend every year for the past 42 years.
About 3M
3M Company provides diversified technology services in the United States and internationally. The company's Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.
Read More - Current Price
- $128.42
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 11 Buy Ratings, 3 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $144.87 (12.8% Upside)
