Dow Today: 3M (MMM) Higher

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 126 points (+0.9%) at 14,826 as of Thursday, May 2, 2013, 1:35 p.m. ET. During this time, 274.3 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 602.9 million. The NYSE advances/declines ratio sits at 2,255 issues advancing vs. 697 declining with 106 unchanged.
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The Dow component leading the way higher looks to be 3M (NYSE: MMM), which is sporting a $1.46 gain (+1.4%) bringing the stock to $106.01. This single gain is lifting the Dow Jones Industrial Average by 11.05 points or roughly accounting for 8.8% of the Dow's overall gain. Volume for 3M currently sits at 1.8 million shares traded vs. an average daily trading volume of 2.7 million shares.

3M has a market cap of $72.33 billion and is part of the conglomerates sector and conglomerates industry. Shares are up 12.6% year to date as of Wednesday'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, good cash flow from operations and growth in earnings per share. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.

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