3M: High Time to Take Profits

3M is classified as a diversified industrial conglomerate and it operates and competes in multiple industries with a number of smaller competitors. As a conglomerate, its closest competitors are General Electric Co. (GE) and Johnson & Johnson (JNJ).

 The company restructured its divisions and segments in 2012 to better align itself with end user markets and to improve operating efficiencies. It reduced its divisions from six to five by consolidating some product offerings, and spread the remaining between existing product lines. JNJ.