Time to buy ‘leaner and ready to grow’ 3M, Barron’s says

For a long time now, 3M has felt like it was held together by Scotch tape. But after a series of recent moves, it appears to be made of stronger stuff, Al Root writes in this week’s edition of Barron’s. 3M has been making big changes that have resulted in a smaller, safer, and more nimble company. It spun off its healthcare business on April 1, announced legal settlements, reset its dividend, and installed a new CEO on May 1. Even growth is expected to be better as it focuses on a narrower set of businesses and the manufacturing economy begins to improve, the author notes, adding that 3M’s valuation captures most of the risks but little of the reward.