Palisade Asset Management buys $12,504,573 stake in 3M Co (MMM)

3M Co (MMM) : Palisade Asset Management scooped up 3,100 additional shares in 3M Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 14, 2016. The investment management firm now holds a total of 74,088 shares of 3M Co which is valued at $12,504,573.3M Co makes up approximately 2.42% of Palisade Asset Management’s portfolio.

3M Co opened for trading at $168.47 and hit $169.87 on the upside on Monday, eventually ending the session at $169.55, with a gain of 0.46% or 0.77 points. The heightened volatility saw the trading volume jump to 11,46,593 shares. Company has a market cap of $102,584 M.

Other Hedge Funds, Including , Eastern Bank boosted its stake in MMM in the latest quarter, The investment management firm added 202 additional shares and now holds a total of 20,688 shares of 3M Co which is valued at $3,491,721. 3M Co makes up approx 0.28% of Eastern Bank’s portfolio.Prospera Financial Services Inc boosted its stake in MMM in the latest quarter, The investment management firm added 778 additional shares and now holds a total of 4,206 shares of 3M Co which is valued at $709,889. 3M Co makes up approx 0.16% of Prospera Financial Services Inc’s portfolio.Livingston Group Asset Management Co (operating As Southp… reduced its stake in MMM by selling 195 shares or 1.55% in the most recent quarter. The Hedge Fund company now holds 12,351 shares of MMM which is valued at $2,057,553. 3M Co makes up approx 1.34% of Livingston Group Asset Management Co (operating As Southp…’s portfolio.Stillwater Investment Management boosted its stake in MMM in the latest quarter, The investment management firm added 7,398 additional shares and now holds a total of 25,734 shares of 3M Co which is valued at $4,287,027. 3M Co makes up approx 2.56% of Stillwater Investment Management’s portfolio.Renaissance Investment Group boosted its stake in MMM in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 2,501 shares of 3M Co which is valued at $418,993. 3M Co makes up approx 0.21% of Renaissance Investment Group’s portfolio.

On the company’s financial health, 3M Co reported $1.80 EPS for the quarter, beating the analyst consensus estimate by $ 0.18 according to the earnings call on Jan 26, 2016. Analyst had a consensus of $1.62. The company had revenue of $7298.00 million for the quarter, compared to analysts expectations of $7208.21 million. The company’s revenue was down -5.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.81 EPS.

Many Wall Street Analysts have commented on 3M Co. Company shares were Reiterated by Jefferies on Apr 12, 2016 to “Buy”, Firm has raised the Price Target to $ 187 from a previous price target of $175 .Company shares were Reiterated by UBS on Mar 30, 2016 to “Buy”, Firm has raised the Price Target to $ 190 from a previous price target of $170 .

3M Company is a diversified technology company. The Company operates in five business segments: Industrial which serves a range of markets such as automotive original equipment manufacturer (OEM) and automotive aftermarket electronics appliance paper and printing packaging food and beverage and construction; Safety and Graphics which serves a range of markets for the safety security and productivity of people facilities and systems; Electronics and Energy which serves customers in electronics and energy markets including solutions for electronic devices telecommunications networks electrical products power generation and distribution and infrastructure protection; Health Care which serves markets that include medical clinics and hospitals pharmaceuticals dental and orthodontic practitioners and health information systems and Consumer which serves markets that include consumer retail office retail home improvement building maintenance and other markets.

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