Dow Component 3M (MMM) To Go Ex-dividend Tomorrow

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 158 points (+1.3%) at 12,746 as of Monday, Nov 19, 2012, 10:35 a.m. ET. During this time, 184.5 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 603.4 million. The NYSE advances/declines ratio sits at 2,624 issues advancing vs. 296 declining with 70 unchanged.
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Tuesday, November 20, 2012 is the ex-dividend date for Dow component 3M (NYSE: MMM). Owners of shares as of market close today will be eligible for a dividend of 59 cents per share. At a price of $89.58 as of 10:35 a.m. ET, the dividend yield is 2.7% compared to the average Dow component yield of 3%.

The average volume for 3M has been 3.1 million shares per day over the past 30 days. 3M has a market cap of $60.9 billion and is part of the conglomerates sector and conglomerates industry. Shares are up 7.7% year to date as of Friday's close.

3M Company operates as a diversified technology company worldwide. The company has a P/E ratio of 14.1, equal to the average conglomerates industry P/E ratio.
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TheStreet Ratings rates 3M as a buy. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, largely solid financial position with reasonable debt levels by most measures, expanding profit margins, increase in stock price during the past year and increase in net income. We feel these strengths outweigh the fact that the company shows weak operating cash flow.

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