#6 - 3M (NYSE:MMM)
3M (MMM)
Years of Consecutive Dividend Growth: 61 Years (Dividend King)
3M (NYSE:MMM) shows why it’s important to understand why dividends matter to a stock’s total return. As the market was on its record bull run, some dividend stocks started to deliver eye-popping returns. Unfortunately, the recent market crash has some investors disillusioned as these stocks look to be returning to the mean.
But the mean for 3M has been pretty good. Investors who have been invested in the stock for the last 10 years have been rewarded with a total return of over 120%. If you exclude dividends, the return is still pretty nifty at over 10%, but it looks more pedestrian.
3M is a dividend king having delivered over 60 consecutive years of dividend increases. The company has been in a very public dispute with the Trump administration over the production of masks during the coronavirus pandemic. And, while analysts are glad to see that the company is still keeping their factories running, there is concern about earnings and revenue for 2020.
But that’s a concern for virtually any manufacturer right now. In time, the economy will get on solid footing. And when it does, it will be stocks like 3M that will be well-positioned to win the day.
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)
