3M COMPANY $133 (New York symbol MMM; Conservative Growth and Income Portfolios, Manufacturing & Industry sector; Shares outstanding: 662.7 million; Market cap: $88.1 billion; Price-to-sales ratio: 3.0; Dividend yield: 2.6%; TSINetwork Rating: Above Average; www.3m.com) feels that rising pollution in China will spur demand for its face masks and water filters. As a result, the company now predicts that its Chinese revenue will rise 15% annually over the next five years. That’s much higher than 3M’s overall annual revenue growth rate of around 5%.
3M is a buy.