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 two points at 15,337 as of Tuesday, May 21, 2013, 10:35 a.m. ET. During this time, 160.1 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 596.9 million. The NYSE advances/declines ratio sits at 1,229 issues advancing vs. 1,605 declining with 143 unchanged.
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Wednesday, May 22, 2013 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 64 cents per share. At a price of $111.60 as of 10:35 a.m. ET, the dividend yield is 2.3% compared to the average Dow component yield of 2.6%.

The average volume for 3M has been 2.8 million shares per day over the past 30 days. 3M has a market cap of $76.88 billion and is part of the conglomerates sector and conglomerates industry. Shares are up 20.3% year to date as of Monday's close.

3M Company operates as a diversified technology company worldwide. The company has a P/E ratio of 17.6, 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 revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, expanding profit margins and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.

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