Wallington Asset Management buys $11,477,504 stake in 3M Co (MMM)

3M Co (MMM) : Wallington Asset Management scooped up 571 additional shares in 3M Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 3, 2016. The investment management firm now holds a total of 64,343 shares of 3M Co which is valued at $11,477,504.3M Co makes up approximately 3.52% of Wallington Asset Management’s portfolio.

Other Hedge Funds, Including , Her Majesty The Queen In Right Of The Province Of Alberta… reduced its stake in MMM by selling 71,300 shares or 68.16% in the most recent quarter. The Hedge Fund company now holds 33,300 shares of MMM which is valued at $5,940,054. 3M Co makes up approx 0.07% of Her Majesty The Queen In Right Of The Province Of Alberta…’s portfolio. Rnc Capital Management added MMM to its portfolio by purchasing 1,322 company shares during the most recent quarter which is valued at $235,673. 3M Co makes up approx 0.02% of Rnc Capital Management’s portfolio.Security National Trust Co reduced its stake in MMM by selling 436 shares or 1.36% in the most recent quarter. The Hedge Fund company now holds 31,701 shares of MMM which is valued at $5,720,128. 3M Co makes up approx 2.04% of Security National Trust Co’s portfolio.First Hawaiian Bank reduced its stake in MMM by selling 1,250 shares or 38.63% in the most recent quarter. The Hedge Fund company now holds 1,986 shares of MMM which is valued at $355,911. 3M Co makes up approx 0.06% of First Hawaiian Bank’s portfolio.

3M Co opened for trading at $178.9 and hit $179.02 on the upside on Monday, eventually ending the session at $178.58, with a gain of 0.01% or 0.01 points. The heightened volatility saw the trading volume jump to 13,27,693 shares. Company has a market cap of $107,934 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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