Cullinan Associates Inc Lowers stake in 3M Co (MMM)

3M Co (MMM) : Cullinan Associates Inc reduced its stake in 3M Co by 0.13% during the most recent quarter end. The investment management company now holds a total of 59,140 shares of 3M Co which is valued at $10,195,145 after selling 75 shares in 3M Co , the firm said in a disclosure report filed with the SEC on Oct 3, 2016.3M Co makes up approximately 0.88% of Cullinan Associates Inc’s portfolio.

Other Hedge Funds, Including ,

3M Co closed down -3.36 points or -1.92% at $171.68 with 31,66,931 shares getting traded on Tuesday. Post opening the session at $174.59, the shares hit an intraday low of $171.2 and an intraday high of $174.97 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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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