Friday, October 25, 2013

3M Shares on life time high

The 3M Company, formerly known as the Minnesota Mining and Manufacturing Company, is an American multinational conglomerate corporation with $30 billion in sales, 3M employs 88,000 people worldwide and produces more than 55,000 products, including: adhesives, abrasives, laminates, passive fire protection, dental products, electronic materials, medical products, car-care products (sun films, polish, wax, car shampoo, treatment for the exterior, interior and the under chassis rust protection), electronic circuits, and optical films. 3M has operations in more than 65 countries - 29 international companies with manufacturing operations and 35 companies with laboratories.

3M Shares scoring life time high after five years gain on $124.88 per share and 2:1 P/E ratio for three months holding – one of the highest P/E ratios in stock market – especially with U.S. total economy problems, but that can be for the worldwide market expansion during the last three years, 3M chairman said that “we are going for the best but we did better than we thought”.  3M Shares now trading at $123.35 per share with increasing demand from investors to raise the total traded volume from 6% of total outstanding shares to 9.5% during the last three days for short term investment.

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