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Cramer said 3M has a long history of innovation, but this time the company chose to buy its innovation rather than produce it in-house. That's OK, he said, as 3M is clearly in growth mode as it struggles to meet its internal projections.
At the end of the day, 3M is a materials company, said Cramer, which means it's likely to apply Ceradyne's technology to other products, which will pay off in the long run. The company has great management and he's never fought the stock as it trends higher. "3M is an up stock," Cramer concluded.Watch the full Cramer interview