3M Company MMM recently announced that it has completed the divestment of its floor products business, based in Western Europe, to Gerflor Group. The financial terms of the transaction were kept under wraps.3M’s shares gained 1.7% yesterday to eventually close the trading session at $147.22.Gerflor Group is a leading provider of flooring solutions and wall finishes to several end markets, including housing, education, healthcare, retail and hospitality. Some of the company’s notable brands are Mipolam, Taraflex, Tarabus, DLW and Gradus.Inside the Headlines3M’s floor products business operated as a unit of the company’s construction and home improvement markets division. The business provides floor transition, flexible baseboards and stair nosing products. It’s worth noting that the business generated sales of about EUR 25 million in 2021.The divestment is in sync with 3M’s strategy of restructuring its business portfolio. The transaction will enable the company to better focus on and efficiently direct resources to its core businesses within the construction and home improvement markets division, thus offering value to its shareholders.The transaction, which included the company’s production facilities, based in La Mure, France, also involved the transfer of about 100 workers to Gerflor. 3M anticipates the transaction to not have any material impact on its financial results.Zacks Rank, Price Performance and Estimate Revisions3M, with approximately $84.1 billion market capitalization, currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The company stands to gain from healthy business in advanced materials, abrasives, electrical, consumer health, food safety and other markets in the quarters ahead. Its solid product portfolio, marketing activities and shareholder-friendly policies are also likely to be beneficial. However, supply-chain challenges, logistic issues and cost inflation might adversely impact its performance.In the past 30 days, the Zacks Consensus Estimate for earnings has decreased 0.2% to $10.43 for 2022 but increased 0.6% to $11.14 for 2023.Image Source: Zacks Investment ResearchIn the past three months, the stock has lost 16.9% compared with the industry’s decline of 10.7%.Zacks Rank & Stocks to ConsiderThe company currently carries a Zacks Rank #3 (Hold).Some better-ranked companies are discussed below.Griffon Corporation GFF presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. Its earnings surprise in the last four quarters was 56.7%, on average.In the past 30 days, Griffon’s earnings estimates have increased 9.9% for fiscal 2022 (ending September 2022). GFF’s shares have lost 14.4% in the past three months.Carlisle Companies Incorporated CSL presently has a Zacks Rank #2 (Buy). Its earnings surprise in the last four quarters was 35.1%, on average.In the past 30 days, Carlisle’s earnings estimates have increased 8.9% for 2022. CSL’s shares have lost 1.2% in the past three months.AZZ Inc. AZZ presently carries a Zacks Rank #2. Its earnings surprise in the last four quarters was 16.9%, on average.AZZ’s earnings estimates have been stable for fiscal 2022 (ended February 2022, results awaited) in the past 30 days. AZZ’s shares have declined 7.4% in the past three months. 7 Best Stocks for the Next 30 Days Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops." Since 1988, the full list has beaten the market more than 2X over with an average gain of +25.4% per year. So be sure to give these hand-picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report 3M Company (MMM): Free Stock Analysis Report AZZ Inc. (AZZ): Free Stock Analysis Report Carlisle Companies Incorporated (CSL): Free Stock Analysis Report Griffon Corporation (GFF): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research