3M Co (NYSE:MMM) shares up 7.4% this month

Dallas, Texas 09/24/2013 (Financialstrend) – Over the past 30 days the share price of 3M Co (NYSE:MMM) has gone up by 7.4%. It was trading at $121.11 per share up 0.92% at end of trading session on September 23, compared to its previous day close. The share has outperformed the Dow Jones industrial index and the industrials index by a huge margin. Both the indices were trading in the red yesterday while the company stock was up almost a percentage point. Through the trading session yesterday, a total of 3.45 million shares were sold, in comparison to its 65 day average trading volume of 2.41 million.

The shares are trading just one percentage down from its 52 week high it had breached in last week’s trading session. It was up 39% from its 52 week low price it had recorded November’12.

The company has a market capitalization of $82 billion with 683 million shares outstanding. The company paid out a dividend of $0.63 per share on September 12 to its share holders. The company dividend yield for the year is 2.10%.

In a recent development, the company has announced that its “eBook lending platform” has been embedded with “encore discovery” application which is developed by Innovative Interfaces. This integrated solution is expected to enable easy exploration, book marking and book check out for the end users within the single interface. This meshing up of the two solutions will make the combined application more intuitive and would be able to display book availability status. The enhanced functionalities would also include a option to personalize the welcome screen which would list out previous search options and previous read books list.

This move has been considered as strategic on part of 3M Co (NYSE:MMM) by investors and is slated to help drive up its “ebook circulations” and help retain its relevancy in the fast growing e book space.



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Aaron Lyons

Aaron Lyons

We have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. No compensation.