Grantham Mayo Van Otterloo buys $642,092,717 stake in 3M Co (MMM)

3M Co (MMM) : Grantham Mayo Van Otterloo scooped up 328,785 additional shares in 3M Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 3,561,839 shares of 3M Co which is valued at $642,092,717.3M Co makes up approximately 2.55% of Grantham Mayo Van Otterloo’s portfolio.

Other Hedge Funds, Including , Argentus Capital Management boosted its stake in MMM in the latest quarter, The investment management firm added 538 additional shares and now holds a total of 1,564 shares of 3M Co which is valued at $281,942. 3M Co makes up approx 0.12% of Argentus Capital Management’s portfolio.Thomas J. Herzfeld Advisors boosted its stake in MMM in the latest quarter, The investment management firm added 690 additional shares and now holds a total of 968 shares of 3M Co which is valued at $174,501. 3M Co makes up approx 0.09% of Thomas J. Herzfeld Advisors’s portfolio.Conning reduced its stake in MMM by selling 6,163 shares or 4.16% in the most recent quarter. The Hedge Fund company now holds 141,881 shares of MMM which is valued at $25,293,126. 3M Co makes up approx 1.05% of Conning’s portfolio.Mechanics Bank Trust Department boosted its stake in MMM in the latest quarter, The investment management firm added 3,730 additional shares and now holds a total of 12,644 shares of 3M Co which is valued at $2,293,874. 3M Co makes up approx 0.82% of Mechanics Bank Trust Department’s portfolio.

3M Co opened for trading at $179.86 and hit $180.7 on the upside on Monday, eventually ending the session at $180.5, with a gain of 0.61% or 1.09 points. The heightened volatility saw the trading volume jump to 10,51,806 shares. Company has a market cap of $109,094 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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