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 three points at 16,583 as of Thursday, May 1, 2014, 11:36 a.m. ET. During this time, 119 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 410.2 million. The NYSE advances/declines ratio sits at 1,689 issues advancing vs. 1,269 declining with 164 unchanged.
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The Dow component leading the way higher looks to be 3M (NYSE: MMM), which is sporting a $1.99 gain (+1.4%) bringing the stock to $141.08. This single gain is lifting the Dow Jones Industrial Average by 15.06 points or roughly accounting for 502% of the Dow's overall gain. Volume for 3M currently sits at 1.6 million shares traded vs. an average daily trading volume of 2.9 million shares.

3M has a market cap of $90.48 billion and is part of the industrial goods sector and industrial industry. Shares are down 0.8% year-to-date as of Wednesday's close. The stock's dividend yield sits at 2.6%.

3M Company operates as a diversified technology company worldwide. The company has a P/E ratio of 19.8, 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, solid stock price performance, growth in earnings per share, notable return on equity and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.

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