3 Top Industrial Stocks to Watch in May
The two big questions stock investors have right now is how deep will the economic contraction be in the second quarter, and what will the shape of the recovery be like in future quarters? While those answers won't be definitively decided by any data being released in May, investors can still get very useful information on trends and also see which sectors might come back stronger than others.
In this context, multi-industry industrial 3M (NYSE: MMM), heavy equipment machinery company Caterpillar (NYSE: CAT), and industrial supply company Fastenal (NASDAQ: FAST) are the ones to watch. Here's why and what to look for with these three industrial stocks.
The industrial giant 3M has withdrawn its full-year guidance on the back of the uncertainty created by the COVID-19 pandemic. However, on the company's recent earnings call, CEO Mike Roman said, "Starting in May, we will provide monthly updates on how our business is performing and we will continue to provide this until we are better able to forecast future performance." In addition, CFO Nick Gangestad went on to outline that management would provide insights on trends by "business and geography."
Source Fool.com
