3M's Strengths

In today's roller coaster market, renewed attention to some of the bigger, stronger U.S.- based companies that are bringing home the bacon from around the world is warranted.

For example, look at giant 3M (NYSE: MMM), which sells products in many different areas: Post-it notes, medical wraps, optical films, dental and orthodontic products, and even roofing granules. And as CEO George Buckley told an investor group just last week, "Our core businesses are strong and getting stronger."

For investors, 3M has nearly a $50 billion market cap while selling at a forward P/E of less than 12 times earnings. Its return on equity approaches 33 percent, and it sports nearly a 3 percent dividend yield. Nevertheless, its shares have slid more than 20 percent in the past year.

It has recently been in an acquisition mode, picking up a manufacturer of car care products, a maker of dental implants and radiology equipment, an environmental monitoring equipment company, and a Swiss manufacturer of pharmaceutical and biotech filtration systems. Beyond that, 3M is launching a renewable energy unit that'll target wind and solar power.

If it can integrate all those products as well as it has in the past, while continuing to research and develop new products, its return on equity should stay steady. For equity investors, 3M could stand for "make more money."