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 down 47.0 points (-0.3%) at 16,464 as of Tuesday, May 20, 2014, 10:36 a.m. ET. During this time, 65.5 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 388.2 million. The NYSE advances/declines ratio sits at 852 issues advancing vs. 2,015 declining with 188 unchanged.
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Wednesday, May 21, 2014 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 86 cents per share. At a price of $141.03 as of 10:36 a.m. ET, the dividend yield is 2.4% compared to the average Dow component yield of 2.6%.

The average volume for 3M has been 2.7 million shares per day over the past 30 days. 3M has a market cap of $92.34 billion and is part of the industrial goods sector and industrial industry. Shares are up 1% 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 20.4, equal to the average industrial 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 revenue growth, solid stock price performance, growth in earnings per share, notable return on equity 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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