3M Co (MMM) : Miller Investment Management Lp reduced its stake in 3M Co by 0.5% during the most recent quarter end. The investment management company now holds a total of 11,319 shares of 3M Co which is valued at $1,957,168 after selling 57 shares in 3M Co , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.3M Co makes up approximately 0.68% of Miller Investment Management Lp’s portfolio.
Other Hedge Funds, Including , Arizona State Retirement System boosted its stake in MMM in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 167,035 shares of 3M Co which is valued at $27,682,711. 3M Co makes up approx 0.44% of Arizona State Retirement System’s portfolio.Weatherly Asset Management L. P. boosted its stake in MMM in the latest quarter, The investment management firm added 25 additional shares and now holds a total of 15,078 shares of 3M Co which is valued at $2,498,877. 3M Co makes up approx 0.86% of Weatherly Asset Management L. P.’s portfolio.Btim Corp. boosted its stake in MMM in the latest quarter, The investment management firm added 2,752 additional shares and now holds a total of 422,775 shares of 3M Co which is valued at $72,011,266. 3M Co makes up approx 1.21% of Btim Corp.’s portfolio.
3M Co opened for trading at $172.51 and hit $173.28 on the upside on Monday, eventually ending the session at $172.96, with a gain of 0.11% or 0.19 points. The heightened volatility saw the trading volume jump to 17,11,068 shares. Company has a market cap of $104,030 M.
On the company’s financial health, 3M Co reported $2.15 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Oct 25, 2016. Analyst had a consensus of $2.14. The company had revenue of $7709.00 million for the quarter, compared to analysts expectations of $7719.82 million. During the same quarter in the previous year, the company posted $2.05 EPS.
Many Wall Street Analysts have commented on 3M Co. 3M Co was Downgraded by Goldman to ” Sell” on Nov 21, 2016. Shares were Reiterated by RBC Capital Mkts on Oct 26, 2016 to “Underperform” and Lowered the Price Target to $ 155 from a previous price target of $159 .Company shares were Upgraded by Barclays on Oct 24, 2016 to ” Overweight”, Firm has raised the Price Target to $ 194 from a previous price target of $171 .
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.