Back to top

Analyst Blog

This page is temporarily not available.  Please check later as it should be available shortly. If you have any questions, please email customer support at support@zacks.com or call 800-767-3771 ext.  9339.

3M Company (MMM - Analyst Report) recently completed the NGV2-2007 certification process – the American National Standards Institute code and specification for CNG (compressed natural gas) vehicle cylinders for its first CNG tank. The 21.5 x 60 inch tank, designed for corporate fleet vehicles, offers greater capacity and is affordable compared to other similar tanks.

3M has collaborated with Chesapeake Energy Corporation (CHK - Analyst Report) to design, manufacture and market a portfolio of CNG tanks across the transportation market in the U.S. At present, Chesapeake is converting its fleet of nearly 5,000 vehicles to run on CNG and is expected to emerge as one of the first end users of the new CNG tank for its fleet.

This new tank will be cost effective and provide more range and payload capacity for vehicles. This partnership signals the growing strength of the natural gas transportation market.

For a CNG vehicle, fuel cost has been a perennial concern. It has taken a toll on the business and consumers and has brought about the need for alternative options to meet the growing demands of transportation. 3M’s tank would enable the companies to take advantage of the benefits of natural gas as a transportation fuel.

3M together with its subsidiaries operates as a diversified technology company with manufacturing operations spread over 70 countries worldwide. It has more than 35 business units organized into six segments: Consumer and Office, Display and Graphics, Electro and Communications, Healthcare, Industrial and Transportation, Safety, Security and Protection Services. The company remains focused on inventing new products, with its scientists and innovators enjoying a competitive advantage worldwide.

However, the company needs to be wary of tough competition from other players in the industry such as Federal Signal Corp (FSS - Snapshot Report) and Tyco International Ltd (TYC - Analyst Report).  3M currently has a Zacks Rank #3 (Hold).

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

Learn more

Start for as little as $4.50 per trade.

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
DIXIE GRP IN DXYN 15.84 +7.90%
BOFI HLDG IN BOFI 85.30 +4.97%
RAMBUS INC RMBS 12.31 +4.41%
VIPSHOP HOLD VIPS 148.73 +4.35%
NETFLIX INC NFLX 345.74 +4.32%