What happened Shares in multi-industry industrial company 3M (NYSE: MMM) rose 10.1% in March, according to data provided by S&P Global Market Intelligence. There wasn't any major fundamental news in the month, so the stock price rise was likely caused by a change in investor sentiment. Rising prices for the raw materials that go into making plastics could pressure 3M in 2021. Image source: Getty Images. Investors' more positive outlook might well have come about after management spoke at a couple of investor conferences in the middle of March. The presentations by CEO Mike Roman and CFO Monish Patolawala served to allay investor fears over its trading environment so far in 2021. Picking out three specific concerns, 3M could be feeling pressure from: A slowdown in vehicle production due to semiconductor shortages for vehicles -- 3M has significant sales to the auto market (adhesives, materials, parts, etc.). Rising raw material costs (notably ethylene and polypropylene) pressuring its profit margin. A dip in elective medical procedures at the start of the year caused by the COVID-19 pandemic that will negatively impact 3M's healthcare sales. Indeed, management discussed all these issues during the presentations, and what it had to say eased investors' worst fears. So what For example, Roman and Patolawala said that based on current conditions, it was likely that a $0.20 headwind from rising raw material costs would occur in 2021 compared to an original forecast of a $0.10 headwind. The full-year EPS guidance is for $9.20 to $9.70, so $0.10 is not really that big a deal. Also, according to management, elective procedures are now coming back strongly. Unfortunately, the situation with automotive production is far less clear, and there are concerns that semiconductor manufacturers won't be able to ramp up production enough to meet automotive demand. That's something to watch. Now what Investors should keep a close eye on the first-quarter earnings, which are due at the end of April. There's undoubtedly going to be some pressure on the earnings from the issues discussed above. On the other hand, 3M remains a good value option for investors. Hopefully, management's outlook will assuage investors' fears again during the earnings presentation. All eyes will be on 3M's guidance in the upcoming results. 10 stocks we like better than 3MWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and 3M wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of February 24, 2021 Lee Samaha has no position in any of the stocks mentioned. The Motley Fool recommends 3M. The Motley Fool has a disclosure policy.Source