3M Co (MMM): Today's Featured Conglomerates Winner

3M ( MMM) pushed the Conglomerates sector higher today making it today's featured conglomerates winner. The sector as a whole closed the day up 1.5%. By the end of trading, 3M rose $2.12 (2.6%) to $84.63 on average volume. Throughout the day, 2.7 million shares of 3M exchanged hands as compared to its average daily volume of 2.7 million shares. The stock ranged in a price between $83.03-$84.64 after having opened the day at $83.22 as compared to the previous trading day's close of $82.51. Other companies within the Conglomerates sector that increased today were: Tredegar Corporation ( TG), up 4.7%, United Technologies ( UTX), up 3.9%, Caterpillar ( CAT), up 3.6%, and Leucadia National Corporation ( LUK), up 3.2%.

3M Company operates as a diversified technology company worldwide. 3M has a market cap of $57.33 billion and is part of the conglomerates industry. The company has a P/E ratio of 13.6, equal to the average conglomerates industry P/E ratio and below the S&P 500 P/E ratio of 17.7. Shares are up 1.1% year to date as of the close of trading on Tuesday. Currently there are six analysts that rate 3M a buy, one analyst rates it a sell, and seven rate it a hold.

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, notable return on equity, expanding profit margins and good cash flow from operations. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the conglomerates sector could consider SPDR Trust Series one ( SPY) while those bearish on the conglomerates sector could consider ProShares Short S&P 500 ( SH).
null

If you liked this article you might like

Crazy Weak U.S. Dollar Will Make These 10 Companies Huge Winners

Dow, S&P 500 Set New Records as Fed Moves to Unwind Balance Sheet

Stocks In Negative Territory as Chances for December Hike Surge

The Wait for 'Milestone' Fed Meeting Keeps Stocks in Flux

Stock Futures Trade Flat as Balance Sheet Decision From Fed Is Awaited