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3M: Institutional Investors’ Activities

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Institutional activities

The 13F filings on June 30 indicated that institutional investors own 67.3% of 3M’s (MMM) outstanding shares. Of the 2,036 institutional investors that held 3M, 818 increased their positions, 911 reduced their positions, and 307 maintained their positions. The institutional investors were net sellers in 3M, which indicates bearishness towards the stock.

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Top three holders

The top three institutional investors account for ~21.7% of 3M’s outstanding shares. However, they were net sellers. Investors decreased their total position from 131.59 million shares in the first quarter to 131.1 million shares in the second quarter. Based on the 13F filings, the top three institutional investors’ holdings are:

  • Vanguard added ~200,000 shares to its earlier holdings in 3M during the second quarter. Now, Vanguard holds 48.88 million shares, which represents ~8.1% of 3M’s outstanding shares.
  • BlackRock (BLK) hasn’t made any additions or reductions to its position in 3M. BlackRock held 39.14 million 3M shares, which represents ~6.5% of 3M’s outstanding shares
  • State Street (STT) has sold ~700,000 shares in the second quarter. According to the latest 13F, State Street held ~43.08 million shares, which represents ~7.1% of 3M’s outstanding shares.

Investors could hold 3M indirectly by investing in the iShares Edge MSCI Multifactor Industrials ETF (INDF). INDF has invested 2.9% of its portfolio in 3M. The fund also provides exposure to Honeywell (HON) with a weight of 2.7% as of August 30.

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