Dow Component 3M (MMM) To Go Ex-dividend Tomorrow

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 up 54 points (+0.4%) at 15,064 as of Tuesday, Aug 20, 2013, 1:05 p.m. ET. During this time, 251.2 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 559.1 million. The NYSE advances/declines ratio sits at 2,382 issues advancing vs. 622 declining with 88 unchanged.
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Wednesday, August 21, 2013 is the ex-dividend date for Dow component 3M (NYSE: MMM). Owners of shares as of market close today will be eligible for a dividend of 64 cents per share. At a price of $115.82 as of 1:05 p.m. ET, the dividend yield is 2.2% compared to the average Dow component yield of 2.7%.

The average volume for 3M has been 2.5 million shares per day over the past 30 days. 3M has a market cap of $79.21 billion and is part of the conglomerates sector and conglomerates industry. Shares are up 24.5% year to date as of Monday's close.

3M Company operates as a diversified technology company worldwide. The company has a P/E ratio of 18.1, equal to the average conglomerates industry P/E ratio.
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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 the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.

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