Is 3M Company Stock a Buy?
Industrial conglomerate 3M's (NYSE: MMM) stock price has steadily declined since peaking in early 2018. Today, the stock is more than 50% removed from its former glory.
The reason? Potentially serious litigation on at least two fronts hangs over the company. The lower share price has pushed the stock's dividend yield to nearly 6%, an all-time high for 3M. Given that 3M has raised its dividend annually for 65 consecutive years, some are questioning whether the streak may soon be broken.
For others, it could be tempting to chase that dividend yield and take a leap of faith in a company that's performed for more than 120 years. But investors should think twice -- as uncertain as the litigation outcomes are right now, they could cast a shadow over investment returns for years to come.
Source Fool.com
