September 1, 2014 | In: Industrials
3M (NYSE:MMM) – An Excellent Stock?
If there is one stock I wish I had bought a long time ago, it is 3M (NYSE:MMM). Since the huge dip in 2009, the stock has seen nearly a 300% increase, which is comparable to the best performing stocks in the market.
What makes this stock very attractive is that it’s consistent. It doesn’t fluctuate a lot and the trend is nearly always up. It’s also a very old stock (the company became public in 1978) and 3M itself (which is best known to the public for its now obsolete sticky notes) is a very diversified company. Their products cover healthcare, transportation, communications, security, graphics, etc…. I didn’t know that 3M was that diversified until I researched it prior to writing this post.
Currently, 3M is trading at a forward P/E ratio of 20, which is excellent for this type of companies. Its market capitalization is currently set at $93 billion.
I think the prospects of 3M are very bright and I think that one needs to consider this stock in his long term portfolio. This stock nearly doubles in value every 5 years! Better than the best of investments!
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