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

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.

3M ( MMM) pushed the Conglomerates sector lower today making it today's featured Conglomerates laggard. The sector as a whole closed the day down 4.2%. By the end of trading, 3M fell $1.80 (-1.5%) to $115.82 on light volume. Throughout the day, 1,852,729 shares of 3M exchanged hands as compared to its average daily volume of 2,476,200 shares. The stock ranged in price between $115.64-$116.92 after having opened the day at $116.92 as compared to the previous trading day's close of $117.62. Other companies within the Conglomerates sector that declined today were: Pingtan Marine Enterprise ( PME), down 82.5%, Nacco Industries ( NC), down 4.1%, Tredegar Corporation ( TG), down 3.7% and AcelRx Pharmaceuticals ( ACRX), down 3.5%.

3M Company operates as a diversified technology company worldwide. 3M has a market cap of $81.1 billion and is part of the conglomerates industry. Shares are up 26.7% year to date as of the close of trading on Wednesday. Currently there are 7 analysts that rate 3M a buy, 1 analyst rates it a sell, and 5 rate it a hold.

TheStreet Ratings rates 3M as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth, largely solid financial position with reasonable debt levels by most measures, 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.

On the positive front, SAExploration Holdings ( SAEX), up 2.5% and Trio Merger ( TRIO), up 2.5%.

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).

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.
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