Capital Advantage buys $305,890 stake in 3M Co (MMM)

3M Co (MMM) : Capital Advantage scooped up 62 additional shares in 3M Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 9, 2016. The investment management firm now holds a total of 1,690 shares of 3M Co which is valued at $305,890.3M Co makes up approximately 0.09% of Capital Advantage’s portfolio.

Other Hedge Funds, Including , Legacy Capital Partners reduced its stake in MMM by selling 676 shares or 4.1% in the most recent quarter. The Hedge Fund company now holds 15,795 shares of MMM which is valued at $2,820,671. 3M Co makes up approx 1.72% of Legacy Capital Partners’s portfolio.Gratus Capital boosted its stake in MMM in the latest quarter, The investment management firm added 33,069 additional shares and now holds a total of 76,598 shares of 3M Co which is valued at $13,663,551. 3M Co makes up approx 1.99% of Gratus Capital’s portfolio. Quantbot Technologies Lp sold out all of its stake in MMM during the most recent quarter. The investment firm sold 1,191 shares of MMM which is valued $212,451.Mai Capital Management reduced its stake in MMM by selling 1,194 shares or 10.29% in the most recent quarter. The Hedge Fund company now holds 10,409 shares of MMM which is valued at $1,885,174. 3M Co makes up approx 0.15% of Mai Capital Management’s portfolio.

3M Co opened for trading at $178.67 and hit $180.09 on the upside on Wednesday, eventually ending the session at $179.87, with a gain of 0.97% or 1.73 points. The heightened volatility saw the trading volume jump to 13,58,528 shares. Company has a market cap of $108,713 M.

On the company’s financial health, 3M Co reported $2.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $2.07. The company had revenue of $7662.00 million for the quarter, compared to analysts expectations of $7710.77 million. The company’s revenue was down -.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.02 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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