Capwealth Advisors Lowers stake in 3M Co (MMM)

3M Co (MMM) : Capwealth Advisors reduced its stake in 3M Co by 0.41% during the most recent quarter end. The investment management company now holds a total of 40,957 shares of 3M Co which is valued at $7,305,910 after selling 170 shares in 3M Co , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.3M Co makes up approximately 1.74% of Capwealth Advisors’s portfolio.

Other Hedge Funds, Including , Utah Retirement Systems reduced its stake in MMM by selling 6,200 shares or 5.44% in the most recent quarter. The Hedge Fund company now holds 107,859 shares of MMM which is valued at $19,239,888. 3M Co makes up approx 0.50% of Utah Retirement Systems’s portfolio.Foster Motley Inc reduced its stake in MMM by selling 1,659 shares or 3.67% in the most recent quarter. The Hedge Fund company now holds 43,586 shares of MMM which is valued at $7,774,871. 3M Co makes up approx 1.50% of Foster Motley Inc’s portfolio.Whittier Trust Co reduced its stake in MMM by selling 7,176 shares or 3.12% in the most recent quarter. The Hedge Fund company now holds 222,745 shares of MMM which is valued at $39,728,798. 3M Co makes up approx 1.70% of Whittier Trust Co’s portfolio.Tufton Capital Management reduced its stake in MMM by selling 1,640 shares or 5.73% in the most recent quarter. The Hedge Fund company now holds 26,971 shares of MMM which is valued at $4,808,120. 3M Co makes up approx 0.96% of Tufton Capital Management’s portfolio.Lynch Associatesin reduced its stake in MMM by selling 75 shares or 0.55% in the most recent quarter. The Hedge Fund company now holds 13,547 shares of MMM which is valued at $2,444,421. 3M Co makes up approx 1.07% of Lynch Associatesin’s portfolio.

3M Co opened for trading at $178.9 and hit $179.02 on the upside on Monday, eventually ending the session at $178.58, with a gain of 0.01% or 0.01 points. The heightened volatility saw the trading volume jump to 13,27,693 shares. Company has a market cap of $107,934 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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