Northrock Partners buys $2 Million stake in 3M Co (MMM)

3M Co (MMM) : Northrock Partners scooped up 1,367 additional shares in 3M Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 11,666 shares of 3M Co which is valued at $2 Million.3M Co makes up approximately 1.02% of Northrock Partners’s portfolio.

Other Hedge Funds, Including , Schnieders Capital Management reduced its stake in MMM by selling 615 shares or 4.72% in the most recent quarter. The Hedge Fund company now holds 12,422 shares of MMM which is valued at $2.1 Million. 3M Co makes up approx 1.24% of Schnieders Capital Management’s portfolio.Dorsey Whitney Trust Co reduced its stake in MMM by selling 239 shares or 0.43% in the most recent quarter. The Hedge Fund company now holds 54,835 shares of MMM which is valued at $9.2 Million. 3M Co makes up approx 2.31% of Dorsey Whitney Trust Co’s portfolio. Hedeker Wealth Management Group sold out all of its stake in MMM during the most recent quarter. The investment firm sold 150 shares of MMM which is valued $25,248.Trilogy Global Advisors Lp reduced its stake in MMM by selling 1,428 shares or 1.75% in the most recent quarter. The Hedge Fund company now holds 80,143 shares of MMM which is valued at $13.5 Million. 3M Co makes up approx 0.39% of Trilogy Global Advisors Lp’s portfolio.Ci Global Investments reduced its stake in MMM by selling 2,065 shares or 3.21% in the most recent quarter. The Hedge Fund company now holds 62,185 shares of MMM which is valued at $10.5 Million. 3M Co makes up approx 0.26% of Ci Global Investments’s portfolio.

3M Co opened for trading at $169 and hit $170.355 on the upside on Wednesday, eventually ending the session at $169.99, with a gain of 0.81% or 1.36 points. The heightened volatility saw the trading volume jump to 18,60,038 shares. Company has a market cap of $103,101 M.

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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