Stock of the day: MMM

Just bought some this morning. It looks to me like this is an opportunity to pick up a great company at a pretty cheap price. It's near its 52-week low, for no reason I can discern (Perhaps because the CEO left for Boeing?). Trailing PE is under 20, forward PE is just over 15. 2% dividend, some debt but just as much cash.

Seriously, this is a great company that's had successful growth for a very long time. It should keep going steadily for the foreseeable future. This isn't one that'll double in a year, but right now seems like a very cheap entry point in a generally overvalued market.