(Click for video linked to a searchable transcript of this Mad Money segment)
Jim Cramer says if all companies were run like this, then stock picking would be easy.
The "Mad Money" host was truly impressed by commentary made by CEO Inge Thulin during the 3M conference call.
"That doesn't mean they can't make mistakes, or that 3M's short-term performance will be spectacular, but it does mean that, long-term, it can be an ideal stock to own," he said.
Parsing through the call, here's what Cramer liked so very much.
"Thulin grabbed me right away on the call saying, marked by organic growth in all business groups and across all geographic areas.'"
Cramer said the 'organic growth' commentary immobilized bears, who believe the company is so big growth could only be generated by expensive acquisitions.
"Then he said, 'We posted record sales and returned record cash to shareholders, while also increasing investments in R&D and commercialization to reinforce our foundation for long term success,'" Cramer said.
For Cramer, the message was crystal clear.
"The record sales weren't accomplished by skimping on R&D, so the future looks every bit as promising as the present. Just as important, the excess money was returned to the shareholders; an obviously investor friendly move," he said.
Also, Cramer noted that Thulin talked about strong operating margins, at nearly 22%, up 30 basis points from last year.
"Margin improvement off of a very high base, is always good to see," Cramer said.
Cramer said there were other things to like, too, including commentary about innovation, a clear explanation of growth areas as well as near-term tactical goals.
But perhaps the comment Cramer likes most was the following: "It remains a good time to be a 3M shareholder."
Over the past three months, shares have gained a solid 8 percent, and in a topsy-turvy market like this, a gain of 8 percent in about 90 days is impressive, to say the least.
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All told, Cramer thinks 3M deserves your attention.
"In a world where many stocks can be cut in half on a whim, 3M stands out as a company that's more in control of its own destiny than just about any other business I follow. Again, long-term it could be an ideal stock to own."
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