The Dow Jones Industrial Average ( ^DJI) is trading down 23.0 points (-0.2%) at 14,951 as of Tuesday, Jul 2, 2013, 1:35 p.m. ET. During this time, 248.7 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 622.2 million. The NYSE advances/declines ratio sits at 1,406 issues advancing vs. 1,551 declining with 102 unchanged.
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Holding back the Dow today is 3M (NYSE: MMM), which is lagging the broader Dow index with a 24-cent decline (-0.2%) bringing the stock to $109.07. This single loss is lowering the Dow Jones Industrial Average by 1.82 points or roughly accounting for 7.9% of the Dow's overall loss. Volume for 3M currently sits at 1.4 million shares traded vs. an average daily trading volume of 2.9 million shares. 3M has a market cap of $75.47 billion and is part of the conglomerates sector and conglomerates industry. Shares are up 17.8% year to date as of Monday's close. The stock's dividend yield sits at 2.3%. 3M Company operates as a diversified technology company worldwide. The company has a P/E ratio of 17.4, 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, expanding profit margins and good cash flow from operations. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.