Schwab Charles Investment Management Inc buys $450,511,299 stake in 3M Co (MMM)

3M Co (MMM) : Schwab Charles Investment Management Inc scooped up 125,826 additional shares in 3M Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 2,605,467 shares of 3M Co which is valued at $450,511,299.3M Co makes up approximately 0.53% of Schwab Charles Investment Management Inc’s portfolio.

Other Hedge Funds, Including , S&t Bankpa reduced its stake in MMM by selling 5,271 shares or 7.1% in the most recent quarter. The Hedge Fund company now holds 69,016 shares of MMM which is valued at $11,933,557. 3M Co makes up approx 1.91% of S&t Bankpa’s portfolio.Grantham Mayo Van Otterloo reduced its stake in MMM by selling 595,331 shares or 16.71% in the most recent quarter. The Hedge Fund company now holds 2,966,508 shares of MMM which is valued at $517,003,014. 3M Co makes up approx 2.52% of Grantham Mayo Van Otterloo’s portfolio.Livforsakringsbolaget Skandia Omsesidigt reduced its stake in MMM by selling 12,600 shares or 20.54% in the most recent quarter. The Hedge Fund company now holds 48,741 shares of MMM which is valued at $8,005,709. 3M Co makes up approx 0.40% of Livforsakringsbolaget Skandia Omsesidigt’s portfolio.Brick Kyle Associates reduced its stake in MMM by selling 60 shares or 3.83% in the most recent quarter. The Hedge Fund company now holds 1,508 shares of MMM which is valued at $249,981. 3M Co makes up approx 0.21% of Brick Kyle Associates’s portfolio.Westwood Management Corp Il reduced its stake in MMM by selling 48,500 shares or 47.81% in the most recent quarter. The Hedge Fund company now holds 52,950 shares of MMM which is valued at $9,012,620. 3M Co makes up approx 1.63% of Westwood Management Corp Il’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.

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