Valley National Advisers Inc buys $402,085 stake in 3M Co (MMM)

3M Co (MMM) : Valley National Advisers Inc scooped up 812 additional shares in 3M Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 21, 2016. The investment management firm now holds a total of 2,384 shares of 3M Co which is valued at $402,085.3M Co makes up approximately 0.21% of Valley National Advisers Inc’s portfolio.

3M Co opened for trading at $166.99 and hit $168.38 on the upside on Wednesday, eventually ending the session at $167.76, with a gain of 0.95% or 1.58 points. The heightened volatility saw the trading volume jump to 22,27,723 shares. Company has a market cap of $101,501 M.

Other Hedge Funds, Including , Bridges Investment Management Inc reduced its stake in MMM by selling 1,108 shares or 6.67% in the most recent quarter. The Hedge Fund company now holds 15,504 shares of MMM which is valued at $2,614,905. 3M Co makes up approx 0.46% of Bridges Investment Management Inc’s portfolio.Joel Isaacson reduced its stake in MMM by selling 945 shares or 18.7% in the most recent quarter. The Hedge Fund company now holds 4,109 shares of MMM which is valued at $693,024. 3M Co makes up approx 0.15% of Joel Isaacson’s portfolio.Kanaly Trust Co boosted its stake in MMM in the latest quarter, The investment management firm added 132 additional shares and now holds a total of 2,780 shares of 3M Co which is valued at $469,208. 3M Co makes up approx 0.09% of Kanaly Trust Co’s portfolio. Daiwa Sb Investments Ltd. sold out all of its stake in MMM during the most recent quarter. The investment firm sold 1,600 shares of MMM which is valued $270,048.Investment Counsel reduced its stake in MMM by selling 4,339 shares or 16.02% in the most recent quarter. The Hedge Fund company now holds 22,743 shares of MMM which is valued at $3,838,564. 3M Co makes up approx 3.55% of Investment Counsel’s portfolio.

On the company’s financial health, 3M Co reported $1.95 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $1.92. The company had revenue of $7409.00 million for the quarter, compared to analysts expectations of $7326.17 million. The company’s revenue was down -2.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.85 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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