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3M (MMM) Hits New Lifetime High

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified 3M ( MMM) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified 3M as such a stock due to the following factors:

  • MMM has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $259.3 million.
  • MMM has traded 49,299 shares today.
  • MMM is trading at a new lifetime high.

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More details on MMM:

3M Company operates as a diversified technology company worldwide. The stock currently has a dividend yield of 2.4%. MMM has a PE ratio of 20.7. Currently there are 6 analysts that rate 3M a buy, 1 analyst rates it a sell, and 5 rate it a hold.

The average volume for 3M has been 2.4 million shares per day over the past 30 days. 3M has a market cap of $93.5 billion and is part of the industrial goods sector and industrial industry. The stock has a beta of 1.22 and a short float of 1.4% with 4.75 days to cover. Shares are up 1.4% year-to-date as of the close of trading on Wednesday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates 3M as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, growth in earnings per share, notable return on equity and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.

Highlights from the ratings report include:

  • MMM's revenue growth has slightly outpaced the industry average of 0.7%. Since the same quarter one year prior, revenues slightly increased by 2.6%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • Investors have apparently begun to recognize positive factors similar to those we have mentioned in this report, including earnings growth. This has helped drive up the company's shares by a sharp 28.12% over the past year, a rise that has exceeded that of the S&P 500 Index. Regarding the stock's future course, although almost any stock can fall in a broad market decline, MMM should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
  • 3M CO has improved earnings per share by 11.2% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, 3M CO increased its bottom line by earning $6.72 versus $6.31 in the prior year. This year, the market expects an improvement in earnings ($7.46 versus $6.72).
  • The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. When compared to other companies in the Industrial Conglomerates industry and the overall market, 3M CO's return on equity exceeds that of the industry average and significantly exceeds that of the S&P 500.
  • The gross profit margin for 3M CO is rather high; currently it is at 52.99%. It has increased from the same quarter the previous year. Along with this, the net profit margin of 15.41% is above that of the industry average.

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