Summit Financial Wealth Advisors Lowers stake in 3M Co (MMM)

3M Co (MMM) : Summit Financial Wealth Advisors reduced its stake in 3M Co by 5.1% during the most recent quarter end. The investment management company now holds a total of 35,241 shares of 3M Co which is valued at $6,241,886 after selling 1,892 shares in 3M Co , the firm said in a disclosure report filed with the SEC on Jul 6, 2016.3M Co makes up approximately 2.58% of Summit Financial Wealth Advisors’s portfolio.

Other Hedge Funds, Including , M. Kraus Co boosted its stake in MMM in the latest quarter, The investment management firm added 1 additional shares and now holds a total of 2,676 shares of 3M Co which is valued at $473,973. 3M Co makes up approx 0.28% of M. Kraus Co’s portfolio.New England Research Management reduced its stake in MMM by selling 200 shares or 2.81% in the most recent quarter. The Hedge Fund company now holds 6,908 shares of MMM which is valued at $1,213,252. 3M Co makes up approx 1.06% of New England Research Management’s portfolio.Stock Yards Bank Trust Co boosted its stake in MMM in the latest quarter, The investment management firm added 3,852 additional shares and now holds a total of 36,837 shares of 3M Co which is valued at $6,469,682. 3M Co makes up approx 0.86% of Stock Yards Bank Trust Co’s portfolio.

3M Co opened for trading at $177.41 and hit $178.47 on the upside on Monday, eventually ending the session at $178.01, with a gain of 0.50% or 0.89 points. The heightened volatility saw the trading volume jump to 16,59,485 shares. Company has a market cap of $107,966 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 .

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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