Mcqueen Ball Associates Lowers stake in 3M Co (MMM)

3M Co (MMM) : Mcqueen Ball Associates reduced its stake in 3M Co by 0.11% during the most recent quarter end. The investment management company now holds a total of 14,046 shares of 3M Co which is valued at $2,534,460 after selling 15 shares in 3M Co , the firm said in a disclosure report filed with the SEC on Jul 20, 2016.3M Co makes up approximately 1.75% of Mcqueen Ball Associates’s portfolio.

Other Hedge Funds, Including , Palo Capital sold out all of its stake in MMM during the most recent quarter. The investment firm sold 8,415 shares of MMM which is valued $1,518,403.Sonora Investment Management boosted its stake in MMM in the latest quarter, The investment management firm added 296 additional shares and now holds a total of 12,053 shares of 3M Co which is valued at $2,182,919. 3M Co makes up approx 1.21% of Sonora Investment Management’s portfolio.Next Financial Group Inc boosted its stake in MMM in the latest quarter, The investment management firm added 467 additional shares and now holds a total of 6,646 shares of 3M Co which is valued at $1,177,140. 3M Co makes up approx 0.37% of Next Financial Group Inc’s portfolio.

3M Co opened for trading at $181.73 and hit $182.27 on the upside on Wednesday, eventually ending the session at $181.42, with a gain of 0.10% or 0.18 points. The heightened volatility saw the trading volume jump to 14,13,335 shares. Company has a market cap of $110,034 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.

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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