3M (MMM) announced a higher dividend and strong earnings forecast

On Tuesday, 3M (MMM) announced a higher dividend and strong earnings forecast, which sent shares higher by 3% (announcement available here). 3M has been one of the top performers on the Dow in 2013 with shares rallying over 41%. However with the big run, some investors have been taking profits in 3M over the past month with Morgan Stanley recommending profit taking a month ago citing valuation.