Dow Today: 3M (MMM) Lower

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 Link.

The Dow Jones Industrial Average ( ^DJI) is trading down 48.0 points (-0.3%) at 15,450 as of Friday, Aug 9, 2013, 10:35 a.m. ET. During this time, 86.8 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 573 million. The NYSE advances/declines ratio sits at 1,337 issues advancing vs. 1,448 declining with 131 unchanged.
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Holding back the Dow today is 3M (NYSE: MMM), which is lagging the broader index with a 10-cent decline to $118.58. This single drop is lowering the Dow Jones Industrial Average by 0.76 points or roughly accounting for 1.6% of the Dow's overall loss. Volume for 3M currently sits at 851,866 shares traded vs. an average daily trading volume of 2.5 million shares.

3M has a market cap of $80.53 billion and is part of the conglomerates sector and conglomerates industry. Shares are up 27.8% year to date as of Thursday'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 the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.

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