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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.

The Dow Jones Industrial Average ( ^DJI) is trading up 129 points (+1%) at 13,566 as of Monday, Oct 1, 2012, 12:35 p.m. ET. During this time, 298.1 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 578.7 million. The NYSE advances/declines ratio sits at 2,121 issues advancing vs. 850 declining with 92 unchanged.

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The Dow component leading the way higher looks to be 3M (NYSE: MMM), which is sporting a $1.75 gain (+1.9%) bringing the stock to $94.17. This single gain is lifting the Dow Jones Industrial Average by 13.24 points or roughly accounting for 10.3% of the Dow's overall gain. Volume for 3M currently sits at 2.1 million shares traded vs. an average daily trading volume of 2.8 million shares.

3M has a market cap of $64.17 billion and is part of the conglomerates sector and conglomerates industry. Shares are up 13.6% year to date as of Friday's close. The stock's dividend yield sits at 2.5%.

3M Company operates as a diversified technology company worldwide. The company has a P/E ratio of 15.2, equal to the average conglomerates industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

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, expanding profit margins, growth in earnings per share and increase in stock price during the past year. We feel these strengths outweigh the fact that the company shows weak operating cash flow.

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DOW 17,031.14 +43.63 0.26%
S&P 500 1,984.13 -1.41 -0.07%
NASDAQ 4,518.9020 -48.6960 -1.07%

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