#5 - 3M (NYSE:MMM)
3M Stock (NYSE:MMM) is different from the stocks listed so far. They have been in the PPE business for a long time. The company is one one of the leading manufacturers of the specialized N-95 masks. After getting into a well-publicized spat with the Trump administration, the company reached an agreement to produce 167 million masks through June.
The order is part of the Defense Production Act (DPA). 3M was one of three companies to receive a portion of the $133 million in production from N95 mask production. Initial reports have 3M receiving $76 million of the contract with the rest being split between Honeywell and Halyard. 3M is also working with Cummins (NYSE:CMI) to ramp up production for high-efficiency particulate filters that 3M will use in their powered air purifying respirators (PAPRs).
MMM stock is down nearly 50% from its all-time of over $250 per share reached in 2018. And the outlook for the rest of the company’s business units is not encouraging. However, as a long-term play the stock may present an attractive entry point.
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
- $127.32
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 11 Buy Ratings, 3 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $144.87 (13.8% Upside)
