Pinnacle Advisory Group buys $2,621,829 stake in 3M Co (MMM)

3M Co (MMM) : Pinnacle Advisory Group scooped up 8,555 additional shares in 3M Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 15, 2016. The investment management firm now holds a total of 15,534 shares of 3M Co which is valued at $2,621,829.3M Co makes up approximately 0.25% of Pinnacle Advisory Group’s portfolio.

3M Co closed down -0.28 points or -0.17% at $168.66 with 16,34,976 shares getting traded on Wednesday. Post opening the session at $168.97, the shares hit an intraday low of $168.41 and an intraday high of $169.7 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Campbell Newman Asset Management Inc boosted its stake in MMM in the latest quarter, The investment management firm added 2,672 additional shares and now holds a total of 60,351 shares of 3M Co which is valued at $10,186,042. 3M Co makes up approx 2.09% of Campbell Newman Asset Management Inc’s portfolio.Howland Capital Management boosted its stake in MMM in the latest quarter, The investment management firm added 4,990 additional shares and now holds a total of 116,103 shares of 3M Co which is valued at $19,595,864. 3M Co makes up approx 1.97% of Howland Capital Management’s portfolio.Carnegie Capital Asset Management boosted its stake in MMM in the latest quarter, The investment management firm added 351 additional shares and now holds a total of 22,328 shares of 3M Co which is valued at $3,768,520. 3M Co makes up approx 0.57% of Carnegie Capital Asset Management’s portfolio.First United Bank Trust boosted its stake in MMM in the latest quarter, The investment management firm added 55 additional shares and now holds a total of 1,490 shares of 3M Co which is valued at $251,482. 3M Co makes up approx 0.23% of First United Bank Trust’s portfolio.

On the company’s financial health, 3M Co reported $1.80 EPS for the quarter, beating the analyst consensus estimate by $ 0.18 according to the earnings call on Jan 26, 2016. Analyst had a consensus of $1.62. The company had revenue of $7298.00 million for the quarter, compared to analysts expectations of $7208.21 million. The company’s revenue was down -5.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.81 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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