Papp L Roy Associates Lowers stake in 3M Co (MMM)

3M Co (MMM) : Papp L Roy Associates reduced its stake in 3M Co by 3.53% during the most recent quarter end. The investment management company now holds a total of 93,021 shares of 3M Co which is valued at $15,657,295 after selling 3,400 shares in 3M Co , the firm said in a disclosure report filed with the SEC on May 9, 2016.3M Co makes up approximately 3.75% of Papp L Roy Associates’s portfolio.

Other Hedge Funds, Including , Aviance Capital Partners reduced its stake in MMM by selling 81 shares or 0.76% in the most recent quarter. The Hedge Fund company now holds 10,634 shares of MMM which is valued at $1,795,976. 3M Co makes up approx 0.65% of Aviance Capital Partners’s portfolio.Harel Insurance Investments Financial Services Ltd. boosted its stake in MMM in the latest quarter, The investment management firm added 190 additional shares and now holds a total of 1,090 shares of 3M Co which is valued at $184,090. 3M Co makes up approx 0.02% of Harel Insurance Investments Financial Services Ltd.’s portfolio.

3M Co closed down -1.83 points or -1.08% at $168.32 with 18,75,893 shares getting traded on Friday. Post opening the session at $170.05, the shares hit an intraday low of $167.82 and an intraday high of $170.38 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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