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 Thursday as it is currently trading at $94.41, above its previous 52-week high of $94.30 with 341,891 shares traded as of 10:15 a.m. ET. Average volume has been 2.9 million shares over the past 30 days. 3M has a market cap of $64.67 billion and is part of the conglomerates sector and conglomerates industry. Shares are up 14.4% year to date as of the close of trading on Wednesday. 3M Company operates as a diversified technology company worldwide. The company has a P/E ratio of 15.3, 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, 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. You can view the full 3M Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center. FREE from Real Money's Jim Cramer: Winners and Losers Election 2012 - Steps to take NOW so you can profit no matter who is in charge! Free download now.