From its headquarters in St. Paul, Minn., 3M operates a diversified technology company worldwide. The conglomerate reported an increase in quarterly profit and slightly lifted its full-year outlook on Tuesday, exceeding analyst expectations even as the closely watched display and graphics business continued to struggle and Asia sales declined.
“Think about how good this company is. 3M’s key end-markets like Europe and Asia were terrible, yet they still beat the estimates handily and raised their growth forecasts for the future dramatically,” Cramer said. “That's just plain old American ingenuity.”
In addition, 3M currently pays a dividend yield of 2.7 percent. Cramer said the company has boosted its dividend, too, for the last 54 consecutive years.