The conglomerates sector closed the day up 2.7%. Harbinger Group Inc ( HRG), Lydall Inc ( LDL), and Cooper Industries ( CBE) were all winners today within the conglomerates sector with 3M ( MMM) being today's featured conglomerates winner. 3M rose $1.97 (2.7%) to $74.50 on light volume. Throughout the day, 4.3 million shares of 3M exchanged hands as compared to its average daily volume of 5.8 million shares. 3M Company, together with subsidiaries, operates as a diversified technology company worldwide. 3M has a market cap of $51.1 billion and is part of the conglomerates industry. The company has a P/E ratio of 12.7, above the average conglomerates industry P/E ratio of 12.2 and below the S&P 500 P/E ratio of 17.7. Shares are down 16.6% year to date as of the close of trading on Wednesday. TheStreet Ratings rates 3M as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations, growth in earnings per share and increase in net income. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself.
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