#5 - 3M Corporation (NYSE:MMM)
Prior to the Covid-19 pandemic, the stock of 3M Corporation (NYSE: MMM) was not a good buy. The stock had dropped 31% from its all-time high set in January 2019 to the beginning of 2020. However, the company was unquestionably a pandemic winner as it helped supply personal protective equipment.
3M stock is currently trading near its 52-week high as well as its consensus price target. However, since the company released earnings in late July, MMM stock has received several boosts to its price target. And now the stock is delivering one of the strongest Return on Equity (ROE) ratios among cyclical stocks. ROE is a measure of how efficiently a company puts its capital to use.
To that end, the company reported that it returned $1.4 billion to shareholders. This took the form of dividends and share repurchases. And speaking of its dividend, 3M has increased its dividend in each of the last 59 years making it part of the elite Dividend King club.
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
- $129.28
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 11 Buy Ratings, 3 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $144.87 (12.1% Upside)
