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.
