10 Best Manufacturing Stocks To Buy Now

6. 3M Company (NYSE:MMM)

Number of Hedge Fund Holders: 82 

3M Company (NYSE:MMM) is a diversified industrial conglomerate renowned for its innovative products across sectors such as safety, industrial, transportation, electronics, and consumer solutions.

As of February 10, 2025, 3M Company (NYSE:MMM) has achieved a year-to-date (YTD) return of over 15%. Over the past five years, the company’s total return stands at about nearly 11%.

In the fourth quarter of 2024, 3M Company (NYSE:MMM) reported sales of $6.0 billion, marking a 0.1% increase year-over-year. The adjusted earnings per share (EPS) from continuing operations was $1.68, down 2% YoY. For the full year 2024, the company posted net sales of $23.6 billion with organic growth up 1.2% YoY.

The company achieved earnings per share (EPS) of $7.30, marking a 21% increase compared to the previous year. Additionally, the adjusted free cash flow stood at $4.9 billion, underscoring 3M Company (NYSE:MMM)’s financial strength and its ability to fund ongoing investments and shareholder returns.

Recent developments include the appointment of CEO William Brown in 2024, who has initiated restructuring efforts to streamline operations and enhance profitability. The company has also focused on innovation, launching new products such as the LCD 2.0 platform and Beam optics for data centers.

Analyst Andrew Obin from Bank of America Securities maintains a ‘Strong Buy’ rating on 3M Company (NYSE:MMM) with a price target of $175, citing the company’s strategic initiatives and potential for improved profitability.