Don't Wait for a Market Crash to Buy This Cheap Stock

There are companies that have great histories and then there are companies that have iconic ones, like diversified industrial giant 3M (NYSE: MMM). But the fortunes of iconic companies wax and wane just like the fortunes of any other company.

Right now, 3M is facing some headwinds even as the broader market is trading near all-time highs. So investors don't need to wait for a market crash to pick up stock in this industry leader at a good price.

Tracing its founding to 1902, this nearly 120-year-old company was originally known as Minnesota Mining and Manufacturing. 3M started life expecting to mine corundum for use in sandpaper. The company basically flopped out of the gate when the corundum mine didn't work out, and it was forced to use anorthosite instead. Sales were, according to the company, "weak."

Source Fool.com