It’s no secret that 3M’s going through some tough times. But it’s cheap.
3M used to be a magical stock. The company delivered double-digit shareholder returns while growing its dividend every year, all fueled by its recession-proof business model.
However, things have taken a turn for the worse as the stock has fallen (47.4%) over the past 3 years:
- 3M has to pay $10.3 billion as a settlement for a recent lawsuit
- 3M is cutting its historic dividend that’s seen 64 consecutive years of raises
- 3M is spinning off its healthcare business, Solventum (SOLV)
Despite all the pain 3M’s been through, the reality is that the stock is cheaper today than it has been for years.
Additionally, with all the confusion and uncertainty surrounding 3M’s business, maybe there will be opportunities there that only savvy investors can spot.
Here are the facts:
Insiders like former CEO Michael Roman and CFO Monish Patolawala have been increasing their positions in the company.
Three of 3M’s top hedge fund investors recently added over 1,000,000 shares each to their 3M positions.
In this article, we’ll look at 3M (MMM).
Who are 3M’s top shareholders?
Our database does not show the top individual investors who own 3M (more on that later).
Some of the top institutional investors that own 3M on behalf of its clients are:
- Vanguard
- State Street
- BlackRock
- Geode Capital Management
- State Farm Insurance Companies
And some of the top hedge funds trying to achieve outsized returns holding 3M are:
- Millennium Management
- Two Sigma Investments
- Balyasny Asset Management
- Alyeska Investment Group
- Renaissance Technologies (different from Renaissance’s quant-based Medallion fund)
Who are 3M’s top individual investors?
Right now, TIKR isn’t showing any big individual investors for 3M.
Insiders are legally required to report their holdings to the SEC, and TIKR scans SEC filings to report back to you.
First of all, an insider at a company is either a company officer (think upper management, like a CEO, CFO, COO, etc), someone on the Board of Directors, or somebody who owns over 10% of the company.
No individual investors own more than 10% of 3M. Individual investors, such as company officers or Board members, generally need to own at least 0.1% of shares outstanding to appear on our screen.
Today, 0.1% ownership of 3M is about $58.0 million. So it’s a pretty sizable stake for an individual investor!
But plenty of big fish institutions silently own 3M and are even adding to their positions.
Who are 3M’s top institutional investors?
See 3M’s full list of institutional investors >>>
- Vanguard Group: Owns 49,235,598 3M shares worth $5.17 billion, which is 8.9% of 3M’s outstanding shares. 3M makes up a shockingly small 0.07% of Vanguard’s holdings. Vanguard is a leading asset management firm with over $7.2 trillion in AUM known for its low-cost index funds and ETFs. Vanguard recently purchased 379,014 shares, increasing its position size by 0.78%.
- State Street: Owns 33,955,296 3M shares worth $3.56 billion, which is 6.14% of 3M’s outstanding shares. 3M is just a tiny 0.15% of State Street’s Global Advisor’s holdings. State Street Corporation is a global financial services company with $3.7 trillion in AUM. It’s the creator of the first ETF, the SPDR S&P 500 ETF Trust, and owns the SPDR ETF line. State Street recently sold 1,865,073 shares, reducing its position size by 5.21%.
- BlackRock: Owns 27,833,304 shares of 3M worth $2.92 billion, or 5.03% of 3M’s total outstanding shares. 3M is just a tiny 0.08% of BlackRock Institutional Company’s holdings. BlackRock is based in New York City and is the largest institutional money manager globally, with more than $9.4 trillion in assets under management. BlackRock owns iShares, the world’s leading exchange-traded funds (ETF) provider. BlackRock recently purchased 206,723 shares of 3M, increasing its position size by 0.75%.
- Geode Capital Management: Owns 11,100,276 shares of 3M worth $1.16 billion, or 2.01% of 3M’s total outstanding shares. 3M makes up just a tiny 0.09% of Geode’s holdings. Geode Capital Management is a Boston-based asset management firm with over $1.2 trillion in AUM specializing in systematic, quantitative investment strategies. Geode also manages a substantial portion of Fidelity’s index fund assets, focusing on delivering consistent, risk-adjusted returns. Geode recently purchased 277,744 shares, increasing its position by 2.57%.
- State Farm Insurance Companies: Owns 8,277,120 shares of 3M worth $866.9 million, or 1.50% of 3M’s total outstanding shares. 3M makes up 0.78% of State Farm’s holdings. State Farm is a prominent US insurance and financial services provider, and it’s known for its extensive range of insurance policies. As a major player in the insurance industry, State Farm invests in companies like 3M to diversify its investment portfolio and potentially generate returns for its policyholders. State Farm recently sold 138,621 shares of 3M, reducing its position by 1.65%.
Who are 3M’s top hedge fund investors?
See 3M’s full list of hedge fund investors >>>
- Millennium Management: Owns 3,833,715 3M shares worth $402.4 million, or 0.69% of 3M’s total outstanding shares. 3M makes up just a tiny 0.35% of this fund’s holdings. Millennium Management utilizes a primarily quantitative trading strategy with a global market focus. Millennium recently increased its position size by 3,091,271 shares, or increasing its 3M position by 416.36%.
- Two Sigma Investments: Owns 1,884,028 3M shares worth $197.8 million, or 0.34% of 3M’s total outstanding shares. 3M makes up 0.24% of this fund’s holdings. Two Sigma is a quantitative hedge fund that invests across various asset classes with the help of technology and data science. Two Sigma recently made a big purchase, adding 1,127,814 shares of 3M, adding 149.14% to its shares.
- Balyasny Asset Management: Owns 1,848,406 3M shares worth $194.0 million, or 0.33% of 3M’s total outstanding shares. 3M makes up 0.00% of this fund’s holdings. Balyasny is a global investment firm that uses both fundamental and quantitative strategies to invest in equity and alternative markets. Balyasny recently reduced its position size by 802,555 shares, cutting its position by 30.27%.
- Alyeska Investment Group: Owns 1,644,434 shares of 3M worth $172.2 million, or 0.30% of 3M’s outstanding shares. 3M makes up just 1.09% of Alyeska’s holdings. Alyeska invests in the equity and fixed income market, globally. Alyeska recently made a big purchase of 1,060,454 shares of 3M, increasing its holding by 181.59%.
- Renaissance Technologies: Owns 1,475,785 shares of 3M worth $154.6 million, or 0.27% of 3M’s total outstanding shares. 3M makes up 0.25% of Renaissance’s holdings. Renaissance became famous for its quantitative Medallion fund, but these holdings are from Renaissance’s institutional funds. Renaissance recently made some big purchases with the addition of 674,985 shares of 3M, which added 84.29% to its position.
Recent Insider Transactions:
Insider Transaction Meaning:
First of all, an insider at a company is either a company officer (think upper management, like a CEO, CFO, COO, etc), someone on the Board of Directors, or somebody who owns over 10% of the company.
3M’s insiders include company officers and members of the Board of Directors because nobody owns over 10% of the company.
Insiders are legally required to disclose to the SEC when they buy or sell their company’s stock, which allows savvy investors to track whether the smartest people at a company are buying or selling the stock.
Is insider selling always a bad sign?
Company insiders may very well sell a stock because they lack confidence in the company or because they think the stock is overvalued.
But it’s just as common for insiders to sell their stock for personal reasons or to diversify their portfolio.
As the legendary investor Peter Lynch said: “Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.”
We generally like to look for insider buying, but we don’t always consider insider selling a bad sign.
Should you only buy stocks with insider buying?
It’s a positive sign to see insiders buying a stock, but it’s certainly not required for investing in a stock.
Remember, tracking insider trading is just one factor in an investor’s stock analysis efforts.
Investing solely based on insider buying would be kind of like deciding to move on a whim to Texas because you heard Elon Musk is moving his company’s headquarters to Texas.
Yes, Elon Musk moving to Texas probably makes Texas a more attractive place to live. You’d also have to assess everything about moving to Texas, like the weather, the area, the cost of living, etc. to see if it’d be right for you. It’s the same with stocks.
3M’s Recent Insider Trades:
See all of 3M’s recent Insider Transactions >>>
- Group President, Consumer | Karina Chavez: Owns 6,505 shares of 3M worth $700 thousand, which is 0.00% of 3M’s outstanding shares. Karina Chavez leads 3M’s Consumer business group, which includes construction, home improvement, and other divisions. Chavez recently added 1,188 shares of 3M, increasing her position by 22.34%.
- Senior Vice President | Theresa Reinseth: Owns 6,032 shares of 3M worth $600 thousand, which is 0.00% of 3M’s outstanding shares. Theresa Reinseth is also the Corporate Controller and Chief Accounting Officer at 3M. Reinseth recently made a big purchase of 3,989 shares of 3M, adding 195.25%, to her total 3M holding.
- President & CFO | Monish Patolawala: Owns 43,540 shares of 3M worth $4.4 million, which is 0.01% of 3M’s outstanding shares. Monish joined 3M as senior vice president and chief financial officer in July 2020. Patolawala recently purchased 43,540 shares of 3M, increasing his 3M holdings by 60.37%.
- Executive Chairman, Former CEO | Michael Roman: Owns 157,631 shares of 3M worth $14.5 million, which is 0.03% of 3M’s outstanding shares. Michael Roman served as 3M’s CEO from 2018 to 2024 and previously served as 3M’s COO. Roman is the executive chairman of 3M’s Board of Directors today. Roman recently purchased 29,343 shares of 3M, increasing his position by 22.87%.
Recap:
Insiders like former CEO Michael Roman and CFO Monish Patolawala have been increasing their positions in the company.
Three of 3M’s top hedge fund investors recently added over 1,000,000 shares each to their 3M positions.
If you want to be “in the know” about top stocks, you’re going to want to sign up for TIKR.
The TIKR Terminal offers industry-leading investment research on over 100,000 global stocks helping you analyze and select the best stocks for your portfolio.
3M Stock Ownership FAQ’s
Who Owns 3M (MMM)?
According to TIKR’s data, some of 3M’s top institutional investors are Vanguard, State Street, BlackRock, Geode Capital Management and State Farm Insurance Companies. Some of the top hedge funds trying to achieve outsized returns by holding 3M are Millennium Management, Two Sigma Investments, Balyasny Asset Management, Alyeska Investment Group, and Renaissance Technologies.
Are insiders selling 3M (MMM)?
Most of 3M’s insiders have been buying, but some insiders are selling.
Check out 3M’s full list of Insider Transactions >>>
Are insiders buying 3M (MMM)?
Former CEO Michael Roman and CFO Monish Patolawala recently purchased sizable stakes in 3M, which may suggest that they are bullish on the company’s future.
Check out 3M’s full list of Insider Transactions >>>
Who owns the most shares of 3M (MMM)?
Today, Vanguard owns the most shares of 3M, with over 49 million shares worth $5.17 billion, which is 8.9% of 3M’s outstanding shares.
Why is a large, publicly traded company’s ownership structure important?
Large institutional investors may be able to influence the company’s management by buying and selling large amounts of shares, which can affect the company’s stock price.
Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. We aim to provide informative and engaging analysis to help empower individuals to make their own investment decisions. Neither TIKR nor our authors hold positions in any of the stocks mentioned in this article. Thank you for reading, and happy investing!
