Sigma Investment Counselors Inc Lowers stake in 3M Co (MMM)

3M Co (MMM) : Sigma Investment Counselors Inc reduced its stake in 3M Co by 2.49% during the most recent quarter end. The investment management company now holds a total of 23,855 shares of 3M Co which is valued at $3,992,850 after selling 610 shares in 3M Co , the firm said in a disclosure report filed with the SEC on Apr 25, 2016.3M Co makes up approximately 0.70% of Sigma Investment Counselors Inc’s portfolio.

3M Co opened for trading at $167.3 and hit $168.5 on the upside on Monday, eventually ending the session at $168.34, with a gain of 0.57% or 0.96 points. The heightened volatility saw the trading volume jump to 17,00,272 shares. Company has a market cap of $101,852 M.

Other Hedge Funds, Including , Cape Cod Five Cents Savings Bank boosted its stake in MMM in the latest quarter, The investment management firm added 3,166 additional shares and now holds a total of 59,466 shares of 3M Co which is valued at $9,953,419. 3M Co makes up approx 1.88% of Cape Cod Five Cents Savings Bank’s portfolio.Vicus Capital reduced its stake in MMM by selling 102 shares or 5.52% in the most recent quarter. The Hedge Fund company now holds 1,747 shares of MMM which is valued at $294,649. 3M Co makes up approx 0.07% of Vicus Capital’s portfolio.Wendell David Associates Inc reduced its stake in MMM by selling 19 shares or 0.14% in the most recent quarter. The Hedge Fund company now holds 13,962 shares of MMM which is valued at $2,354,831. 3M Co makes up approx 0.45% of Wendell David Associates Inc’s portfolio.Naples Global Advisors boosted its stake in MMM in the latest quarter, The investment management firm added 290 additional shares and now holds a total of 11,739 shares of 3M Co which is valued at $1,981,308. 3M Co makes up approx 0.82% of Naples Global Advisors’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.

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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