Dow Today: 3M (MMM) Higher

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Links.

The Dow Jones Industrial Average ( ^DJI) is trading up 120 points (+0.8%) at 15,619 as of Thursday, Aug 1, 2013, 10:35 a.m. ET. During this time, 120.1 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 584.9 million. The NYSE advances/declines ratio sits at 2,115 issues advancing vs. 721 declining with 98 unchanged.
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The Dow component leading the way higher looks to be 3M (NYSE: MMM), which is sporting a $1.48 gain (+1.3%) bringing the stock to $118.91. This single gain is lifting the Dow Jones Industrial Average by 11.2 points or roughly accounting for 9.3% of the Dow's overall gain. Volume for 3M currently sits at 774,155 shares traded vs. an average daily trading volume of 2.6 million shares.

3M has a market cap of $80.64 billion and is part of the conglomerates sector and conglomerates industry. Shares are up 26.5% year to date as of Wednesday's close. The stock's dividend yield sits at 2.2%.

3M Company operates as a diversified technology company worldwide.

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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