3M Co (MMM): Today's Featured Conglomerates Winner

3M ( MMM) pushed the Conglomerates sector higher today making it today's featured conglomerates winner. The sector as a whole closed the day down 1.5%. By the end of trading, 3M rose $2.09 (1.9%) to $111.54 on light volume. Throughout the day, 2,042,746 shares of 3M exchanged hands as compared to its average daily volume of 2,904,300 shares. The stock ranged in a price between $109.87-$111.56 after having opened the day at $110.37 as compared to the previous trading day's close of $109.45. Other companies within the Conglomerates sector that increased today were: Nacco Industries ( NC), up 6.4%, Dex Media ( DXM), up 4.2%, Capitol Acquisition Corp II ( CLAC), up 2.9% and Global Eagle Entertainment ( ENT), up 2.2%.

3M Company operates as a diversified technology company worldwide. 3M has a market cap of $75.0 billion and is part of the conglomerates industry. Shares are up 17.9% year to date as of the close of trading on Wednesday. Currently there are 8 analysts that rate 3M a buy, 1 analyst rates it a sell, and 4 rate it a hold.

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.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the conglomerates sector could consider SPDR Trust Series 1 ( SPY) while those bearish on the conglomerates sector could consider ProShares Short S&P 500 ( SH).

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

null

More from Markets

Italian Bonds Slump as Government Mulls Anti-Euro Finance Minister

Italian Bonds Slump as Government Mulls Anti-Euro Finance Minister

Global Stocks Hold Gains as North Korea Response on Talks Soothes Nerves

Global Stocks Hold Gains as North Korea Response on Talks Soothes Nerves

One Thing to Consider Over Memorial Day Weekend: Are Stocks About to Collapse?

One Thing to Consider Over Memorial Day Weekend: Are Stocks About to Collapse?

North Korea, Apple, GPDR and Gap - 5 Things You Must Know

North Korea, Apple, GPDR and Gap - 5 Things You Must Know

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)