3M Co (MMM) : Mechanics Bank Trust Department reduced its stake in 3M Co by 0.51% during the most recent quarter end. The investment management company now holds a total of 8,914 shares of 3M Co which is valued at $1,503,435 after selling 46 shares in 3M Co , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.3M Co makes up approximately 0.58% of Mechanics Bank Trust Department’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 , Headinvest reduced its stake in MMM by selling 420 shares or 0.98% in the most recent quarter. The Hedge Fund company now holds 42,265 shares of MMM which is valued at $7,128,415. 3M Co makes up approx 2.76% of Headinvest’s portfolio.Asset Advisors Corp reduced its stake in MMM by selling 2,100 shares or 2.25% in the most recent quarter. The Hedge Fund company now holds 91,357 shares of MMM which is valued at $15,408,272. 3M Co makes up approx 3.31% of Asset Advisors Corp’s portfolio.Proffitt Goodson Inc reduced its stake in MMM by selling 20 shares or 0.26% in the most recent quarter. The Hedge Fund company now holds 7,590 shares of MMM which is valued at $1,280,129. 3M Co makes up approx 0.72% of Proffitt Goodson Inc’s portfolio.Pinnacle Advisory Group boosted its stake in MMM in the latest quarter, The investment management firm added 8,555 additional shares and now holds a total of 15,534 shares of 3M Co which is valued at $2,621,829. 3M Co makes up approx 0.25% of Pinnacle Advisory Group’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.