Stewart Patten Co Lowers stake in 3M Co (MMM)

3M Co (MMM) : Stewart Patten Co reduced its stake in 3M Co by 0.25% during the most recent quarter end. The investment management company now holds a total of 150,035 shares of 3M Co which is valued at $25,322,907 after selling 381 shares in 3M Co , the firm said in a disclosure report filed with the SEC on Apr 12, 2016.3M Co makes up approximately 5.05% of Stewart Patten Co’s portfolio.

3M Co opened for trading at $168.32 and hit $169 on the upside on Friday, eventually ending the session at $168.78, with a gain of 0.37% or 0.62 points. The heightened volatility saw the trading volume jump to 14,17,007 shares. Company has a market cap of $102,118 M.

Other Hedge Funds, Including , Monroe Bank Trustmi reduced its stake in MMM by selling 432 shares or 6.96% in the most recent quarter. The Hedge Fund company now holds 5,774 shares of MMM which is valued at $974,536. 3M Co makes up approx 0.33% of Monroe Bank Trustmi’s portfolio.Dnb Asset Management As boosted its stake in MMM in the latest quarter, The investment management firm added 26,000 additional shares and now holds a total of 58,832 shares of 3M Co which is valued at $9,929,665. 3M Co makes up approx 0.20% of Dnb Asset Management As’s portfolio.Central Bank Trust Co reduced its stake in MMM by selling 106 shares or 19.41% in the most recent quarter. The Hedge Fund company now holds 440 shares of MMM which is valued at $74,263. 3M Co makes up approx 0.02% of Central Bank Trust Co’s portfolio.Livforsakringsbolaget Skandia Omsesidigt reduced its stake in MMM by selling 1,300 shares or 1.94% in the most recent quarter. The Hedge Fund company now holds 65,641 shares of MMM which is valued at $11,078,888. 3M Co makes up approx 0.51% of Livforsakringsbolaget Skandia Omsesidigt’s portfolio.Creative Planning reduced its stake in MMM by selling 2,503 shares or 4.5% in the most recent quarter. The Hedge Fund company now holds 53,148 shares of MMM which is valued at $8,853,925. 3M Co makes up approx 0.07% of Creative Planning’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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