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

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 higher today making it today's featured conglomerates winner. The sector as a whole closed the day up 1.0%. By the end of trading, 3M rose $1.33 (1.2%) to $114.55 on average volume. Throughout the day, 2,307,965 shares of 3M exchanged hands as compared to its average daily volume of 2,342,100 shares. The stock ranged in a price between $113.08-$114.86 after having opened the day at $113.08 as compared to the previous trading day's close of $113.22. Other companies within the Conglomerates sector that increased today were: AcelRx Pharmaceuticals ( ACRX), up 5.5%, MGT Capital Investments ( MGT), up 4.7%, Dex Media ( DXM), up 4.1% and Leucadia National Corporation ( LUK), up 2.6%.

3M Company operates as a diversified technology company worldwide. 3M has a market cap of $77.6 billion and is part of the conglomerates industry. Shares are up 21.9% year to date as of the close of trading on Tuesday. 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.

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

If you liked this article you might like

Crazy Weak U.S. Dollar Will Make These 10 Companies Huge Winners

Dow, S&P 500 Set New Records as Fed Moves to Unwind Balance Sheet

Stocks In Negative Territory as Chances for December Hike Surge

The Wait for 'Milestone' Fed Meeting Keeps Stocks in Flux

Stock Futures Trade Flat as Balance Sheet Decision From Fed Is Awaited