It's Not Too Late to Unload 3M

Knowing where a stock has traded historically gives you the best gauge of what to expect from it in the future. That is especially true with low-beta, highly predictable companies. Diversified manufacturer 3M (MMM) epitomizes that profile.

Because it has only put in mid-single-digit profit growth, 3M has not earned a high price-to-earnings multiple since 2005. The shares were only middling performers despite the company's blue-chip reputation. Since 2008, the stock has deservedly averaged less than a 14.5x multiple. Its dividend has yielded about 2.7% since the start of 2008....157 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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