Thinking of Buying 3M Stock? 3 Things You Need To Know First
If you're a value investor or a dividend-seeker, chances are you've considered buying some 3M (NYSE: MMM) stock lately.
After all, it has the makings of a great dividend stock at an initial glance. It's a titan of American industry, innovating in areas such as consumer products, healthcare, and industrial equipment, and it's been a profit machine for ages. In fact, the stock is a dividend King, one of a handful of U.S. companies that have raised their dividend every year for at least 50 years. 3M's streak of dividend hikes has now reached 64 years, and it's paid uninterrupted dividends for more than a century. It currently offers a dividend yield of 6.7%, about the highest its yield has been in modern history.
According to the headline numbers, this also looks like a great time to buy the stock as it's trading for bargain prices. 3M stock recently hit an 11-year low and now trades at a price-to-earnings ratio of 10 based on expected earnings this year.
Source Fool.com
