#6 - 3M (NYSE:MMM)
3M (NYSE:MMM) was a pandemic winner as the company’s products and services were in high demand. However, since hitting its 52-week high in the Spring of 2021, MMM stock price is down 14%. In fact, shareholders who bought 3M stock five years ago, are seeing very little share price growth. But with the stock near its 52-week low, is the stock a buy?
Investors have concerns about how the company can respond to supply chain disruptions and an increase in costs. And that is being reflected in the company’s top and bottom lines which continue to increase on a year-over-year (YOY) basis, but at a slower rate.
That’s a legitimate concern, but it isn’t likely to affect the company’s ability to pay its dividend. And that’s the real reason many investors buy 3M stock. The company is a Dividend King that has increased its dividend in each of the last 63 years.
Investors who don’t already have a position in MMM stock may want to wait until the company reports earnings in late January.
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)
