3M, a multinational conglomerate founded in 1902, sells tens of thousands of products ranging from sponges to respirators. The firm is well known for its extensive research and development capabilities, and it is a pioneer in inventing new use cases for its proprietary technologies. 3M is organized across three business segments: safety and industrial (representing around 44% of revenue), transportation and electronics (36%), and consumer (20%). The firm recently spun off its healthcare business, now known as Solventum. Nearly half of 3M’s revenue comes from outside the Americas.

Argus has published its latest Portfolio Selector, which features its popular Focus List. Each month, Director of Research Jim Kelleher, CFA, surveys the team of Argus Research industry analysts for their timeliest recommendations out of the company's fundamental universe of approximately 500 stocks. The Focus List typically includes 30 stocks: turnover is high, as Jim typically adds three or four new stocks per month. Below are the latest additions, all of which are rated BUY at Argus.

The Portfolio Selector features the Argus Focus List, a group of 30 "best idea" stocks generated and regularly updated by Argus' analysts and investment policy committee. It also includes the director of research’s monthly investment strategy column, stock recommendations and sector picks, economic forecasts, and an asset allocation model. This month, the Focus List additions are Teva Phar Inds Lt (TEVA); SAP SE (SAP); 3M Co. (MMM); Meta Platforms Inc (META) and the Focus List deletions are Crowdstrike Holdings Inc (CRWD); Lilly(Eli) & Co (LLY); Pinterest Inc (PINS); United Rentals, Inc. (URI).

The dog days of summer may be perfect for a vacation at the beach (or in the mountains, as is the case with the Federal Reserve Board), but investors don't always get to enjoy the month of August. Indeed, our analysis of monthly returns going back to 1980 indicates that the eighth month of the year is ahead of only two other months -- February and September -- in terms of average return. Now there have been some hits. The month has a "win percentage" of 55%, although last year the S&P 500 fell 2.1%. And there have been some real clunkers, including 1981 (-6%), 1990 (-9.4%), 1998 (-14.6%), 2001 (-6.4%), and 2015 (-6.3%). August generally is a quiet month on Wall Street. The second-quarter earnings reports are (for the most) part finished in July. The IPO market, already quiet this year, often goes into a period of hibernation. Volume tends to be light -- which is perfect for higher volatility. This August, nerves are likely to remain on edge as the Federal Reserve debates upcoming changes to policy and the U.S. presidential race kicks into a higher gear. We continue to stress a focus on quality -- companies with strong earnings, balance sheets, and management teams -- as the markets approach what typically has been a difficult two-month stretch.