Independence Trust Co Lowers stake in 3M Co (MMM)

3M Co (MMM) : Independence Trust Co reduced its stake in 3M Co by 0.43% during the most recent quarter end. The investment management company now holds a total of 18,713 shares of 3M Co which is valued at $3,376,574 after selling 80 shares in 3M Co , the firm said in a disclosure report filed with the SEC on Jul 22, 2016.3M Co makes up approximately 5.05% of Independence Trust Co’s portfolio.

Other Hedge Funds, Including , Jnba Financial Advisors reduced its stake in MMM by selling 1,335 shares or 30.0% in the most recent quarter. The Hedge Fund company now holds 3,115 shares of MMM which is valued at $562,071. 3M Co makes up approx 0.15% of Jnba Financial Advisors’s portfolio.State Of Alaska Department Of Revenue boosted its stake in MMM in the latest quarter, The investment management firm added 1,325 additional shares and now holds a total of 49,530 shares of 3M Co which is valued at $8,985,733. 3M Co makes up approx 0.92% of State Of Alaska Department Of Revenue’s portfolio.Boston Common Asset Management boosted its stake in MMM in the latest quarter, The investment management firm added 8 additional shares and now holds a total of 41,397 shares of 3M Co which is valued at $7,510,244. 3M Co makes up approx 1.08% of Boston Common Asset Management’s portfolio.Sumitomo Life Insurance Co reduced its stake in MMM by selling 8,365 shares or 23.84% in the most recent quarter. The Hedge Fund company now holds 26,729 shares of MMM which is valued at $4,840,889. 3M Co makes up approx 0.64% of Sumitomo Life Insurance Co’s portfolio.Bkd Wealth Advisors reduced its stake in MMM by selling 206 shares or 1.14% in the most recent quarter. The Hedge Fund company now holds 17,901 shares of MMM which is valued at $3,208,038. 3M Co makes up approx 0.47% of Bkd Wealth Advisors’s portfolio.

3M Co opened for trading at $178.11 and hit $178.8229 on the upside on Friday, eventually ending the session at $178.36, with a gain of 0.21% or 0.38 points. The heightened volatility saw the trading volume jump to 16,21,915 shares. Company has a market cap of $108,178 M.

On the company’s financial health, 3M Co reported $2.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $2.07. The company had revenue of $7662.00 million for the quarter, compared to analysts expectations of $7710.77 million. The company’s revenue was down -.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.02 EPS.

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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