Northroad Capital Management Lowers stake in 3M Co (MMM)

3M Co (MMM) : Northroad Capital Management reduced its stake in 3M Co by 4.64% during the most recent quarter end. The investment management company now holds a total of 2,818 shares of 3M Co which is valued at $474,326 after selling 137 shares in 3M Co , the firm said in a disclosure report filed with the SEC on May 12, 2016.3M Co makes up approximately 0.32% of Northroad Capital Management’s portfolio.

Other Hedge Funds, Including , Genovese Burford Brothers Wealth Retirement Plan Mana… boosted its stake in MMM in the latest quarter, The investment management firm added 20 additional shares and now holds a total of 1,299 shares of 3M Co which is valued at $218,648. 3M Co makes up approx 0.10% of Genovese Burford Brothers Wealth Retirement Plan Mana…’s portfolio.Sky Investment Group reduced its stake in MMM by selling 85 shares or 0.34% in the most recent quarter. The Hedge Fund company now holds 24,699 shares of MMM which is valued at $4.2 Million. 3M Co makes up approx 2.04% of Sky Investment Group’s portfolio.Smithfield Trust Co reduced its stake in MMM by selling 55 shares or 0.32% in the most recent quarter. The Hedge Fund company now holds 17,113 shares of MMM which is valued at $2.9 Million. 3M Co makes up approx 0.56% of Smithfield Trust Co’s portfolio.Wedbush Securities Inc boosted its stake in MMM in the latest quarter, The investment management firm added 509 additional shares and now holds a total of 6,596 shares of 3M Co which is valued at $1.1 Million. 3M Co makes up approx 0.20% of Wedbush Securities Inc’s portfolio.

3M Co closed down -0.1 points or -0.06% at $165.01 with 17,46,994 shares getting traded on Friday. Post opening the session at $165.25, the shares hit an intraday low of $164.928 and an intraday high of $166.47 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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.

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