HomeMy WebLinkAbout2016 07-08 3M's stock hits new high STAR TRIBUNE7/11/2016
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3M's stock hits new high
By Dee DePass JULY 8, 2016 - 3:48PM
Ws stock hits new high - StarTribune.com
3M's stock hit a new 52-week high Friday of $177.79 per share.
The stock, which slid slightly lower before the day's end, closed at $177.12, up $2.25.
The stock is up significantly from a year ago when 3M was trading at $155 a share. The
Maplewood -based conglomerate has been negatively impacted by foreign exchange rates
but has ratcheted down expenses and pulled off two large acquisitions that are beginning
to contribute to sales. The giant has surpassed its industry peers and remains a Wall
Street darling despite a global industrial slowdown.
The bellwether stock is one of two Minnesota-based companies on the 30 -company Dow
Jones Industrial Average, which on Friday reached its highest level since June of last
year.
3M, which makes Post -it Notes, Scotch Tape, respirators, cell phone films and more,
generates $30 billion a year in revenue. It manufactures more than 55,000 products and
boasts 89,400 employees in 70 countries.
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