State Street Corp. Amends 3M Co. Stake Filing
Ticker: MMM · Form: SC 13G/A · Filed: Jan 29, 2024 · CIK: 66740
| Field | Detail |
|---|---|
| Company | 3m CO (MMM) |
| Form Type | SC 13G/A |
| Filed Date | Jan 29, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**State Street just updated its 3M stock holdings, confirming its big institutional stake.**
AI Summary
State Street Corporation, a major financial institution, filed an amended SC 13G/A on January 29, 2024, disclosing its ownership of 3M Co. common stock as of December 31, 2023. This filing indicates that State Street is a significant institutional investor in 3M, holding a substantial stake. For investors, this matters because large institutional holdings can provide a degree of stability and confidence, but also means that any future changes in State Street's position could impact 3M's stock price.
Why It Matters
This filing confirms State Street Corporation's continued significant institutional ownership in 3M Co., which can influence market perception and stock stability.
Risk Assessment
Risk Level: low — This filing is a routine update from a large institutional investor and does not indicate any immediate negative or positive risks.
Analyst Insight
A smart investor would note State Street's continued institutional presence in 3M, but recognize this routine amendment doesn't signal a new investment thesis, rather a periodic update of their holdings.
Key Players & Entities
- State Street Corporation (company) — the reporting person and institutional investor
- 3M Co. (company) — the subject company whose securities are being reported
- IRS NUMBER: 042456637 (number) — State Street Corporation's IRS identification number
- IRS NUMBER: 410417775 (number) — 3M Co.'s IRS identification number
- 12/31/2023 (date) — the date of the event requiring the filing
FAQ
What type of filing is this document?
This document is an 'SC 13G/A', which stands for Schedule 13G/Amendment. It's an amendment to a previous Schedule 13G filing, indicating a change in ownership or other relevant information.
Who is the 'Reporting Person' in this filing?
The 'Reporting Person' is STATE STREET CORPORATION, identified by CIK 0000093751 and IRS Identification No. 042456637.
Which company's securities are being reported on?
The securities being reported on belong to 3M CO, identified as the 'NAME OF ISSUER' with CIK 0000066740.
What is the 'DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT'?
The date of the event which requires the filing of this statement is 12/31/2023.
What is the CUSIP number for the securities mentioned?
The CUSIP number for the common stock of 3M Co. is 88579Y101.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 29, 2024 regarding 3M CO (MMM).