Courier Capital Corp Lowers stake in 3M Co (MMM)

3M Co (MMM) : Courier Capital Corp reduced its stake in 3M Co by 13.46% during the most recent quarter end. The investment management company now holds a total of 30,097 shares of 3M Co which is valued at $5,368,703 after selling 4,683 shares in 3M Co , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.3M Co makes up approximately 1.05% of Courier Capital Corp’s portfolio.

Other Hedge Funds, Including , Minneapolis Portfolio Management Group reduced its stake in MMM by selling 10,529 shares or 5.31% in the most recent quarter. The Hedge Fund company now holds 187,756 shares of MMM which is valued at $33,491,915. 3M Co makes up approx 5.75% of Minneapolis Portfolio Management Group’s portfolio.Home Federal Bank Of Tennessee reduced its stake in MMM by selling 38 shares or 0.29% in the most recent quarter. The Hedge Fund company now holds 13,243 shares of MMM which is valued at $2,360,830. 3M Co makes up approx 1.39% of Home Federal Bank Of Tennessee’s portfolio.Daiwa Securities Group boosted its stake in MMM in the latest quarter, The investment management firm added 40,000 additional shares and now holds a total of 102,450 shares of 3M Co which is valued at $18,263,762. 3M Co makes up approx 0.11% of Daiwa Securities Group’s portfolio.Patton Albertson Miller Group reduced its stake in MMM by selling 199 shares or 10.48% in the most recent quarter. The Hedge Fund company now holds 1,700 shares of MMM which is valued at $304,657. 3M Co makes up approx 0.13% of Patton Albertson Miller Group’s portfolio.Capital Insight Partners boosted its stake in MMM in the latest quarter, The investment management firm added 73 additional shares and now holds a total of 2,641 shares of 3M Co which is valued at $467,774. 3M Co makes up approx 0.44% of Capital Insight Partners’s portfolio.

3M Co closed down -0.57 points or -0.32% at $177.81 with 10,72,341 shares getting traded on Thursday. Post opening the session at $178.96, the shares hit an intraday low of $177.64 and an intraday high of $179.42 and the price fluctuated in this range throughout the day.Shares ended Thursday 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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