When I’m vetting stocks to add to my long-term holdings, I have to think very differently than I do when I’m swing trading or scalping. For one thing, I commit to blocking out the noise and focusing on the company’s long-term viability; moreover, I look at its dividend as a sign that the company is in good health and likes to reward loyal shareholders.
Besides being a long-standing Dow Jones component, 3M Company (NYSE:MMM) offers a compelling 3.31% dividend yield; that’s not too bad at all. That alone wouldn’t be enough to convince me to buy 3M stock, though, so I have to weigh a multitude of other factors. The critics will always be able to find something to complain about, but when I look at 3M, I see a Dow stalwart with a solid plan and the potential to beat Q2 expectations; moreover, the compelling 3M stock price and its generous dividend payouts complete the picture of a stock that’s earned my seal of approval.
Source: InvestorPlace
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