7 Dow Jones Stocks That Are Still Laggards - 6 of 7

#6 - 3M Company (NYSE:MMM)

3M Company (NYSE: MMM) 3M is a company that is going against the grain. Where the trend for most companies is to consolidate their business units to focus on their core competencies and/or the areas where they are most profitable, 3M is broadening their product base. However, their stock has been taking a beating in 2018. In the month of October, a month that was brutal for many stocks, MMM suffered a decline of 9.7%. This brought their year-to-date performance to a -14.5%. 3M has tended to sell products that can command a premium price which has allowed them, in good times, to show investors growth in revenue and earnings per share (EPS). That hasn’t been the case lately. In their most recent earnings report, issued in early October, the company missed on both their revenue and earnings per share estimates. Their stock subsequently took a hit. And although 3M is a Dividend King, having delivered 60 years of dividend growth, investors have to ask whether that is reason enough to own the stock. The industrial sector faces continued uncertainty by the ongoing trade dispute with China, the threat of inflation which is being manifest in a strengthening U.S. dollar. For investors who had 3M in their portfolio before the stock tumbled, now might be the time to hang on tight and hope for a bit of a recovery before considering selling, but investors should exercise caution before viewing the stock as a buying opportunity.

About 3M

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)