Stock Yards Bank Trust Co Lowers stake in 3M Co (MMM)

3M Co (MMM) : Stock Yards Bank Trust Co reduced its stake in 3M Co by 15.06% during the most recent quarter end. The investment management company now holds a total of 31,290 shares of 3M Co which is valued at $5,329,626 after selling 5,547 shares in 3M Co , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.3M Co makes up approximately 0.74% of Stock Yards Bank Trust Co’s portfolio.

Other Hedge Funds, Including , Nisa Investment Advisors boosted its stake in MMM in the latest quarter, The investment management firm added 1,796 additional shares and now holds a total of 228,889 shares of 3M Co which is valued at $38,837,886. 3M Co makes up approx 0.51% of Nisa Investment Advisors’s portfolio.Harding Loevner Lp reduced its stake in MMM by selling 294,527 shares or 30.97% in the most recent quarter. The Hedge Fund company now holds 656,608 shares of MMM which is valued at $112,371,893. 3M Co makes up approx 0.80% of Harding Loevner Lp’s portfolio.North Star Asset Management Inc reduced its stake in MMM by selling 225 shares or 2.73% in the most recent quarter. The Hedge Fund company now holds 8,029 shares of MMM which is valued at $1,384,119. 3M Co makes up approx 0.16% of North Star Asset Management Inc’s portfolio.

3M Co opened for trading at $170.99 and hit $171.39 on the upside on Friday, eventually ending the session at $170.33, with a gain of 0.18% or 0.31 points. The heightened volatility saw the trading volume jump to 15,12,376 shares. Company has a market cap of $102,948 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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