5 Best No-Fee DRIP Stocks to Buy Now

4. 3M Company (NYSE: MMM)

Number of Hedge Fund Holders: 42
Dividend Yield: 3.05%

3M Company (NYSE: MMM), an industrials company, is next on our list of the best no-fee DRIP stocks to buy now. It manfactures a range of products for sale, like safety products, industrial adhesives, abrasives, and others. It ranks 4th on our list.

Argus analyst John Eade this July raised the price target on shares of 3M Company (NYSE: MMM) from $220 to $225. The analyst also reiterated a Buy rating on the stock.

In the second quarter of 2021, 3M Company (NYSE: MMM) had an EPS of $2.59, beating estimates by $0.30. The company’s revenue was $8.95 billion, up 24.72% year over year and beating estimates by $371.24 million. 3M Company (NYSE: MMM) has gained 10.21% in the past 6 months and 12.97% year to date.

By the end of the second quarter of 2021, 42 hedge funds out of the 873 tracked by Insider Monkey held stakes in 3M Company (NYSE: MMM) worth roughly $1.6 billion. This is compared to 41 hedge funds in the previous quarter with a total stake value of approximately $1.5 billion.