3M included in the DJSI
On September 13, 3M (MMM) announced that it was included in the 2018 DJSI (Dow Jones Sustainability Index) for the 19th consecutive time. The DJSI considers economic, climate change mitigation, environment, social performance, good labor practices, and other parameters.
3M has a long commitment program towards sustainability targeting water, climate, and energy. 3M plans to continue its good business practices to help customers and communities in order to overcome sustainability challenges. Some of the highlights of 3M’s achievements in the past year are:
- 3M has reduced greenhouse gas emissions 68.1% since 2002.
- 3M meets 30% of its electric power requirement from renewable energy sources.
- 3M launched smog reducing granules.
Gayle Schueller, 3M’s chief sustainability officer and vice president of sustainability and product stewardship, said, “Our commitment to helping solve global challenges is at the core of everything we do at 3M. We’re a purpose-driven company committed to Sustainability- inspired innovation, using our science and technology to improve lives around the world.”
3M stock fell 2.2% and closed at $207.88 for the week ending September 14. Despite the lower stock price, 3M traded 2.6% above its 100-day moving average price of $202.55. On a year-to-date basis, 3M stock has fallen 11.7%.
Among 3M’s peers, General Electric (GE) and Stanley Black & Decker (SWK) have fallen 27.3% and 12.6%, respectively, while Honeywell (HON) has gained ~7.7%. 3M’s 14-day relative strength index of 50 indicates that the stock isn’t overbought or oversold.
Investors could hold 3M indirectly by investing in the SPDR Dow Jones Industrial Average ETF (DIA). DIA invested 5.4% of its portfolio in 3M on September 14.