Stearns Financial Services Group buys $2,958,050 stake in 3M Co (MMM)

3M Co (MMM) : Stearns Financial Services Group scooped up 193 additional shares in 3M Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 16,409 shares of 3M Co which is valued at $2,958,050.3M Co makes up approximately 0.81% of Stearns Financial Services Group’s portfolio.

Other Hedge Funds, Including , United Services Automobile Association reduced its stake in MMM by selling 5,403 shares or 1.17% in the most recent quarter. The Hedge Fund company now holds 457,336 shares of MMM which is valued at $82,443,961. 3M Co makes up approx 0.28% of United Services Automobile Association’s portfolio.Highpoint Advisor Group boosted its stake in MMM in the latest quarter, The investment management firm added 18,221 additional shares and now holds a total of 23,891 shares of 3M Co which is valued at $4,306,831. 3M Co makes up approx 1.52% of Highpoint Advisor Group’s portfolio.Gyroscope Capital Management Group boosted its stake in MMM in the latest quarter, The investment management firm added 500 additional shares and now holds a total of 2,285 shares of 3M Co which is valued at $413,585. 3M Co makes up approx 0.32% of Gyroscope Capital Management Group’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.Crossvault Capital Management boosted its stake in MMM in the latest quarter, The investment management firm added 700 additional shares and now holds a total of 2,042 shares of 3M Co which is valued at $364,027. 3M Co makes up approx 0.25% of Crossvault Capital Management’s portfolio.

3M Co opened for trading at $179.61 and hit $180.54 on the upside on Tuesday, eventually ending the session at $179.77, with a gain of 0.39% or 0.7 points. The heightened volatility saw the trading volume jump to 11,95,825 shares. Company has a market cap of $108,653 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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