Harding Loevner Lp Lowers stake in 3M Co (MMM)

3M Co (MMM) : Harding Loevner Lp reduced its stake in 3M Co by 0.64% during the most recent quarter end. The investment management company now holds a total of 951,135 shares of 3M Co which is valued at $172,260,060 after selling 6,165 shares in 3M Co , the firm said in a disclosure report filed with the SEC on Jul 15, 2016.3M Co makes up approximately 1.29% of Harding Loevner Lp’s portfolio.

Other Hedge Funds, Including , Nisa Investment Advisors boosted its stake in MMM in the latest quarter, The investment management firm added 10,796 additional shares and now holds a total of 227,093 shares of 3M Co which is valued at $41,128,813. 3M Co makes up approx 0.54% of Nisa Investment Advisors’s portfolio.Davis R M Inc reduced its stake in MMM by selling 2,797 shares or 1.52% in the most recent quarter. The Hedge Fund company now holds 181,140 shares of MMM which is valued at $32,806,265. 3M Co makes up approx 1.57% of Davis R M Inc’s portfolio. Check Capital Management Incca sold out all of its stake in MMM during the most recent quarter. The investment firm sold 1,527 shares of MMM which is valued $276,555.Macnealy Hoover Investment Management Inc reduced its stake in MMM by selling 150 shares or 1.37% in the most recent quarter. The Hedge Fund company now holds 10,800 shares of MMM which is valued at $1,912,896. 3M Co makes up approx 0.36% of Macnealy Hoover Investment Management Inc’s portfolio.First Premier Bank reduced its stake in MMM by selling 65 shares or 4.59% in the most recent quarter. The Hedge Fund company now holds 1,350 shares of MMM which is valued at $239,112. 3M Co makes up approx 0.18% of First Premier Bank’s portfolio.

3M Co closed down -0.29 points or -0.16% at $181.11 with 12,24,381 shares getting traded on Monday. Post opening the session at $181.44, the shares hit an intraday low of $180.75 and an intraday high of $181.7 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, 3M Co reported $1.95 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $1.92. The company had revenue of $7409.00 million for the quarter, compared to analysts expectations of $7326.17 million. The company’s revenue was down -2.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.85 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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *