Grassi Investment Management Lowers stake in 3M Co (MMM)

3M Co (MMM) : Grassi Investment Management reduced its stake in 3M Co by 0.23% during the most recent quarter end. The investment management company now holds a total of 43,290 shares of 3M Co which is valued at $7,345,447 after selling 100 shares in 3M Co , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.3M Co makes up approximately 1.42% of Grassi Investment Management’s portfolio.

Other Hedge Funds, Including , Pacwest Financial Management Inc reduced its stake in MMM by selling 703 shares or 4.47% in the most recent quarter. The Hedge Fund company now holds 15,020 shares of MMM which is valued at $2,570,523. 3M Co makes up approx 1.58% of Pacwest Financial Management Inc’s portfolio.Salem Capital Management Inc reduced its stake in MMM by selling 600 shares or 6.59% in the most recent quarter. The Hedge Fund company now holds 8,500 shares of MMM which is valued at $1,454,690. 3M Co makes up approx 0.80% of Salem Capital Management Inc’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.Cullinan Associates Inc reduced its stake in MMM by selling 75 shares or 0.13% in the most recent quarter. The Hedge Fund company now holds 59,140 shares of MMM which is valued at $10,195,145. 3M Co makes up approx 0.88% of Cullinan Associates Inc’s portfolio.

3M Co closed down -1.46 points or -0.85% at $169.68 with 19,98,726 shares getting traded on Tuesday. Post opening the session at $170.24, the shares hit an intraday low of $168.69 and an intraday high of $170.47 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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