Dow Today: 3M (MMM) Lower

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 down 8.0 points at 14,081 as of Monday, Mar 4, 2013, 1:35 p.m. ET. During this time, 265.7 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 626.8 million. The NYSE advances/declines ratio sits at 1,297 issues advancing vs. 1,603 declining with 136 unchanged.
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Holding back the Dow today is 3M (NYSE: MMM), which is lagging the broader Dow index with a 61-cent decline (-0.6%) bringing the stock to $103.16. This single loss is lowering the Dow Jones Industrial Average by 4.62 points or roughly accounting for 57.8% of the Dow's overall loss. Volume for 3M currently sits at 1.5 million shares traded vs. an average daily trading volume of 2.8 million shares.

3M has a market cap of $71.76 billion and is part of the conglomerates sector and conglomerates industry. Shares are up 12% year to date as of Friday's close. The stock's dividend yield sits at 2.4%.

3M Company operates as a diversified technology company worldwide. The company has a P/E ratio of 16.5, below the S&P 500 P/E ratio of 17.7.

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, solid stock price performance, increase in net income and growth in earnings per share. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.

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