For the uninitiated, industrial stocks refer to companies that engage in the production and distribution of goods and materials. This can include industries such as manufacturing, construction, mining, and transportation. Industrial companies often produce physical products that are essential for everyday life, including food, clothing, and shelter. They may also produce raw materials or intermediate goods that are used in the production of other products.
Investing in industrial stocks can be a way to tap into the global economy and benefit from the growth and development of various industries. These stocks can offer the potential for long-term growth, as well as income through dividends.
However, it’s important to thoroughly research and evaluate any potential investments before making a decision. This is because the performance of industrial stocks can be influenced by a variety of factors. These include items such as economic conditions, technological advancements, and changing consumer demand. Now knowing this, let’s look at two industrial stocks that deserve your attention in the stock market today.
Industrial Stocks To Invest In [Or Avoid] Right Now
Caterpillar Inc. (CAT)
First, Caterpillar Inc. (CAT) is a leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. The company operates in a wide range of industries. For example, construction, mining, oil and gas, and power generation.
In recent news, the company announced that it voted to maintain its quarterly dividend of $1.20 per share on common stock. This results, in an annual dividend yield of 2.04%. In addition, the dividend is payable to on February 17, 2023, to shareholders on record on January 20, 2023. Meanwhile, Caterpillar has paid a cash dividend every year to shareholders since its inception. In fact, the company has increased its yearly dividend for 29 straight years.
As of Tuesday’s closing bell, shares of CAT stock closed the trading session up 1.23% trading at $235.14 a share.
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3M Company (MMM)
Second, 3M Company (MMM) is a diversified technology company. For starters, the company operates in a variety of industries, including healthcare, consumer goods, electronics, and industrial products. The company is well known for its innovative products and technologies.
On Tuesday, 3M announced that it will exit the manufacturing of per- and polyfluoroalkyl substances (PFAS) by the end of 2025. The company also said it will work to discontinue the use of PFAS in its products by the same date. This decision is based on the evolving external landscape. This includes factors such as regulatory trends aimed at reducing or eliminating PFAS in the environment. As well as changing stakeholder expectations.
As of the stock market close on Tuesday, shares of MMM stock ended the trading day down slightly by 1.08% at $120.81 a share.
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