3M Co. Stock Falls Wednesday, Underperforms Market

Wesco International Inc

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Industrials : Trading Companies & Distributors | Mid Cap Blend

Company profile

WESCO International, Inc. is a provider of business-to-business distribution, logistics services and supply chain solutions. The Company conducts its business through three segments: Electrical & Electronic Solutions (EES), Communications & Security Solutions (CSS) and Utility & Broadband Solutions (UBS). The EES segment supplies a range of products and solutions primarily to the construction, industrial and original equipment manufacturer (OEM) markets. Its EES segment supplies various products, including electrical equipment and supplies, automation and connected devices (the Internet of Things), security, lighting, wire and cable, safety, and maintenance, repair and operating (MRO) products. Its CSS segment operates in the network infrastructure and security markets. The UBS segment provides products and services to investor-owned utilities, public power companies, including municipalities, as well as global service providers, wireless providers and broadband operators.

3M Co. Stock Falls Wednesday, Underperforms Market

4:32 pm ET January 18, 2023 (MarketWatch) Print

This article was automatically generated by MarketWatch using technology from Automated Insights.

Shares of 3M Co. (MMM) slid 3.04% to $122.75 Wednesday, on what proved to be an all-around dismal trading session for the stock market, with the S&P 500 Index falling 1.56% to 3,928.86 and Dow Jones Industrial Average falling 1.81% to 33,296.96. This was the stock's second consecutive day of losses. 3M Co. closed $58.12 below its 52-week high ($180.87), which the company achieved on January 19th.

The stock demonstrated a mixed performance when compared to some of its competitors Wednesday, as Johnson & Johnson (JNJ) fell 1.51% to $169.76, Honeywell International Inc. (HON) fell 3.77% to $204.24, and General Electric Co. (GE) fell 1.52% to $79.27. Trading volume (4.2 M) eclipsed its 50-day average volume of 2.6 M.

Data source: Dow Jones Market Data, FactSet. Data compiled Janurary 18, 2023.

(END) Dow Jones Newswires

January 18, 2023 16:32 ET (21:32 GMT)