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..

The Dow Jones Industrial Average ( ^DJI) is trading up 10 points at 18,308 as of Tuesday, May 19, 2015, 10:36 a.m. ET. During this time, 76.4 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 363.5 million. The NYSE advances/declines ratio sits at 1,051 issues advancing vs. 1,838 declining with 206 unchanged.
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Wednesday, May 20, 2015 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 $1.02 per share. At a price of $163.43 as of 10:36 a.m. ET, the dividend yield is 2.5% compared to the average Dow component yield of 2.7%.

The average volume for 3M has been 2.2 million shares per day over the past 30 days. 3M has a market cap of $103.59 billion and is part of the industrial goods sector and industrial industry. Shares are down 0.9% 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 21.6, 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 solid stock price performance, largely solid financial position with reasonable debt levels by most measures, notable return on equity, expanding profit margins and growth in earnings per share. We feel its strengths outweigh the fact that the company shows weak operating cash flow.

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