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) closed down 153.0 points (-0.9%) at 16,168. During the day, 386.5 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 401.8 million. The NYSE advances/declines ratio closed at 1,009 issues advancing vs. 2,005 declining with 149 unchanged.
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Holding the Dow back today was 3M (NYSE: MMM), which lagged the broader Dow index with a $2.52 decline (-1.9%) bringing the stock to $132.21. This single loss lowered the Dow Jones Industrial Average by 19.07 points or roughly accounting for 12.5% of the Dow's overall loss. Volume for 3M ended the day at 2.8 million shares traded vs. an average daily trading volume of 3.2 million shares.
3M has a market cap of $89.03 billion and is part of the industrial goods sector and industrial industry. Shares are down 3.9% year to date as of Friday's close. The stock's dividend yield sits at 2.5%. 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, notable return on equity, expanding profit margins and good cash flow from operations. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.