3M Reaches New 52-Week High (MMM)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model

NEW YORK (TheStreet) -- 3M (NYSE:MMM) hit a new 52-week high Wednesday as it is currently trading at $92.61, above its previous 52-week high of $92.59 with 691,652 shares traded as of 12:10 p.m. ET. Average volume has been 2.9 million shares over the past 30 days.

3M has a market cap of $63.32 billion and is part of the conglomerates sector and conglomerates industry. Shares are up 12.9% year to date as of the close of trading on Tuesday.

3M Company operates as a diversified technology company worldwide. The company has a P/E ratio of 15.1, equal to the average conglomerates industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates 3M as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, notable return on equity, growth in earnings per share, increase in stock price during the past year and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full 3M Ratings Report.

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