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 144 points (+0.9%) at 16,512 as of Friday, Aug 8, 2014, 1:36 p.m. ET. During this time, 154 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 306.5 million. The NYSE advances/declines ratio sits at 2,245 issues advancing vs. 756 declining with 144 unchanged.
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The Dow component leading the way higher looks to be 3M (NYSE: MMM), which is sporting a $1.22 gain (+0.9%) bringing the stock to $140.35. This single gain is lifting the Dow Jones Industrial Average by 9.23 points or roughly accounting for 6.4% of the Dow's overall gain. Volume for 3M currently sits at 1.5 million shares traded vs. an average daily trading volume of 1.9 million shares.

3M has a market cap of $90.42 billion and is part of the industrial goods sector and industrial industry. Shares are down 0.8% year-to-date as of Thursday'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, solid stock price performance and growth in earnings per share. We feel these strengths outweigh the fact that the company shows weak operating cash flow.

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