The stock prices of these two industrial stalwarts are both down almost 30% over the last year. That's not the only thing 3M (NYSE: MMM) and Stanley Black & Decker (NYSE: SWK) have in common, though. Both offer tempting dividend yields (6.2% and 4.1%, respectively), and both have restructuring plans in place to improve operational performance. But which is the better buy?

The industrial giant has seen no end of troubles in recent years. Many investors focus on the potential legal liabilities coming from the company's production of possibly harmful per- and poly fluoroalkyl substances (PFAS) -- 3M will exit PFAS production by the end of 2025 -- and allegedly defective combat arms earplugs.

That's fair enough, but there's also the issue of 3M's disappointing operational performance over the last decade. Mediocre revenue growth, margin deterioration, and management that misses its own guidance are not a recipe for adding shareholder value, and the company has attracted sharp criticism from one of its biggest shareholders.

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Source Fool.com