Industrial giant 3M Co. (NYSE: MMM) received a slight boost to its share price last week, but the gain was not enough to lift it out of the Dow’s basement. Shares added about 1.4% on no significant news, but 3M’s stock has now dropped 13% for the year to date.
The second-worst Dow Jones industrials stock so far this year is Caterpillar Inc. (NYSE: CAT), which is down 11.6%. That is followed by Procter & Gamble Co. (NYSE: PG), down 8.9%, Goldman Sachs Group Inc. (NYSE: GS), down 8.4%, and Exxon Mobil Corp. (NYSE: XOM), down 6.4%. Of the 30 Dow stocks, 13 are showing a loss to date in 2018.
The blue-chip index added nearly 356 points last week to close at 25,669.32, up about 1.4% compared to the previous Friday’s close. The Dow closed up less than 1% for the second quarter, and down 1.8% for the first six months of 2018. For the year to date, the index is up 3.4%, trailing both the S&P 500 (up 5.7%) and the Nasdaq Composite (up 11.6%).
3M’s 1.4% gain last week matched the performance of the entire industrials sector. For the past 30 days, industrial sector stocks are up about 3.7%, fourth-best of the 11 S&P sectors. But for the year to date, the industrial sector is up just 0.3%, well below the S&P 500’s year-to-date gain.
The industrial conglomerate subsector, which includes 3M, Honeywell and General Electric, has performed especially badly, down more than 13% in 2018 and down nearly 20% over the past 12 months.
3M stock closed at $204.77 on Friday, up about 0.8% for the day, in a 52-week trading range of $190.57 to $259.77. The 12-month consensus price target on the stock is $209.85, and the forward price-to-earnings ratio is 18.22.
Take Charge of Your Retirement In Just A Few Minutes (Sponsor)
Retirement planning doesn’t have to feel overwhelming. The key is finding expert guidance—and SmartAsset’s made it easier than ever for you to connect with a vetted financial advisor.
Here’s how it works:
- Answer a Few Simple Questions. Tell us a bit about your goals and preferences—it only takes a few minutes!
- Get Matched with Vetted Advisors Our smart tool matches you with up to three pre-screened, vetted advisors who serve your area and are held to a fiduciary standard to act in your best interests. Click here to begin
- Choose Your Fit Review their profiles, schedule an introductory call (or meet in person), and select the advisor who feel is right for you.
Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.