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

3M Co (MMM) : Salem Investment Counselors Inc reduced its stake in 3M Co by 0.28% during the most recent quarter end. The investment management company now holds a total of 103,135 shares of 3M Co which is valued at $18,592,146 after selling 286 shares in 3M Co , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.3M Co makes up approximately 2.19% of Salem Investment Counselors Inc’s portfolio.

Other Hedge Funds, Including , Bayesian Capital Management Lp sold out all of its stake in MMM during the most recent quarter. The investment firm sold 1,290 shares of MMM which is valued $232,548.Alliancebernstein boosted its stake in MMM in the latest quarter, The investment management firm added 598,174 additional shares and now holds a total of 1,953,252 shares of 3M Co which is valued at $352,112,738. 3M Co makes up approx 0.29% of Alliancebernstein’s portfolio.Spears Abacus Advisors reduced its stake in MMM by selling 43 shares or 0.63% in the most recent quarter. The Hedge Fund company now holds 6,741 shares of MMM which is valued at $1,215,200. 3M Co makes up approx 0.15% of Spears Abacus Advisors’s portfolio. Herndon Capital Management added MMM to its portfolio by purchasing 56 company shares during the most recent quarter which is valued at $9,988.Trust Department Mb Financial Bank N A reduced its stake in MMM by selling 32 shares or 1.1% in the most recent quarter. The Hedge Fund company now holds 2,870 shares of MMM which is valued at $519,786. 3M Co makes up approx 0.06% of Trust Department Mb Financial Bank N A’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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