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 Link.

The Dow Jones Industrial Average ( ^DJI) is trading up 91 points (+0.6%) at 15,463 as of Tuesday, Feb 4, 2014, 12:35 p.m. ET. During this time, 264.6 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 369.3 million. The NYSE advances/declines ratio sits at 2,171 issues advancing vs. 803 declining with 141 unchanged.
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The Dow component leading the way higher looks to be 3M (NYSE: MMM), which is sporting a $3.34 gain (+2.7%) bringing the stock to $127.24. This single gain is lifting the Dow Jones Industrial Average by 25.28 points or roughly accounting for 27.8% of the Dow's overall gain. Volume for 3M currently sits at 4.2 million shares traded vs. an average daily trading volume of 2.9 million shares.

3M has a market cap of $85.28 billion and is part of the conglomerates sector and conglomerates industry. Shares are down 11.7% year to date as of Monday's close. The stock's dividend yield sits at 2.7%.

3M Company operates as a diversified technology company worldwide. The company has a P/E ratio of 19.1, above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates 3M as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, good cash flow from operations, solid stock price performance and expanding profit margins. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.

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