Cue the $100 Roll
3M Co. (MMM) has been an incredible investment this year, increasing 30% while paying out a 2.5% annual dividend yield. The Post-It Note King could finally surpass the $100 share price before the end of the year.
Barron's put out a piece today titled 3M Can Post Further Gains. Thanks to today's news that 3M is going to pickup Ceradyne (CRDN) for about $860 million the company will be able to post further gains. Ceradyne means 3M will rake in more revenue in a number of industries, from energy to defense and transportation.
3M sports a P/E of 15 and its shares have been on a steady incline since summer. With the market trading sideways for the foreseeable future 3M looks attractive for a slow climb while paying out a dividend. Ceradyne could finally put 3M over the $100 price level.
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