3M’s new Bluetooth air filter
3M’s (MMM) Filtrete brand has launched a smart Bluetooth-enabled air filter for the home. This air filter boasts the following features:
- provides reminders to the user about when to replace the filter, as well as the size and type of filter to replace
- tracks the life of the filter based on the airflow and usage
- provides real-time indoor air quality and outdoor air quality information
Amanda Dauphinais, the global business unit manager of the Filtrete Brand, said, “The Filtrete Smart Air Filter helps monitor factors related to indoor air quality and provides data-driven alerts and replacement reminders, which is important because most people spend up to 90 percent of their time indoors. When combined with exclusive 3M filtration technology, the Filtrete Smart Air Filter is a powerful and smart way to a cleaner, fresher air in the home.”
3M’s stock performance
3M’s stock gained 1.6% and closed at $244.47 for the week ended January 12, 2017. 3M traded 8.8% above the 100-day moving average price of $224.62. Since the beginning of 2018, the stock has risen 3.9%. 3M is trading well above the analysts’ recommended target price of $230.42. MMM’s 14-day relative strength index of 71 indicates that the stock has moved into an overbought situation temporarily and that there could be some selling pressure.
Investors who want to invest in 3M indirectly can invest in the SPDR Dow Jones Industrial Average ETF (DIA), which invests 6.6% of its portfolio in 3M. The fund also provides exposure to Boeing (BA), Goldman Sachs (GS), and Home Depot (HD), which have weights of 9.0%, 6.9%, and 5.3%, respectively, as of January 12, 2018.