State Street Corp. Amends 3M Co. Stake Filing

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

From the Filing

0000093751-24-000326.txt : 20240129 0000093751-24-000326.hdr.sgml : 20240129 20240129111702 ACCESSION NUMBER: 0000093751-24-000326 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240129 DATE AS OF CHANGE: 20240129 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: 3M CO CENTRAL INDEX KEY: 0000066740 STANDARD INDUSTRIAL CLASSIFICATION: SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841] ORGANIZATION NAME: 08 Industrial Applications and Services IRS NUMBER: 410417775 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-18703 FILM NUMBER: 24571644 BUSINESS ADDRESS: STREET 1: 3M CENTER STREET 2: BLDG. 220-13E-26A CITY: ST PAUL STATE: MN ZIP: 55144-1000 BUSINESS PHONE: 6517331474 MAIL ADDRESS: STREET 1: 3M CENTER STREET 2: BLDG. 220-13E-26A CITY: ST. PAUL STATE: MN ZIP: 55144-1000 FORMER COMPANY: FORMER CONFORMED NAME: MINNESOTA MINING & MANUFACTURING CO DATE OF NAME CHANGE: 19920703 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: STATE STREET CORP CENTRAL INDEX KEY: 0000093751 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] ORGANIZATION NAME: 02 Finance IRS NUMBER: 042456637 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 1 CONGRESS STREET STREET 2: SUITE 1 CITY: BOSTON STATE: MA ZIP: 02114 BUSINESS PHONE: 617 786-3000 MAIL ADDRESS: STREET 1: 1 CONGRESS STREET STREET 2: SUITE 1 CITY: BOSTON STATE: MA ZIP: 02114 FORMER COMPANY: FORMER CONFORMED NAME: STATE STREET Corp DATE OF NAME CHANGE: 20090218 FORMER COMPANY: FORMER CONFORMED NAME: STATE STREET CORP DATE OF NAME CHANGE: 19970424 FORMER COMPANY: FORMER CONFORMED NAME: STATE STREET BOSTON FINANCIAL CORP DATE OF NAME CHANGE: 19780525 SC 13G/A 1 3M_Co.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G UNDER THE SECURITIES EXCHANGE ACT OF 1934 AMENDED FILING 3M CO (NAME OF ISSUER) COMMON STOCK (TITLE OF CLASS OF SECURITIES) 88579Y101 (CUSIP NUMBER) 12/31/2023 (DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT) CHECK THE APPROPRIATE BOX TO DESIGNATE THE RULE PURSUANT TO WHICH THIS SCHEDULE IS FILED: (X) RULE 13D-1 (B) ( ) RULE 13D-1 (C) ( ) RULE 13D-1 (D) *THE REMAINDER OF THIS COVER PAGE SHALL BE FILLED OUT FOR A REPORTING PERSON`S INITIAL FILING ON THIS FORM WITH RESPECT TO THE SUBJECT CLASS OF SECURITIES, AND FOR ANY SUBSEQUENT AMENDMENT CONTAINING INFORMATION WHICH WOULD ALTER THE DISCLOSURES PROVIDED IN A PRIOR COVER PAGE. THE INFORMATION REQUIRED IN THE REMAINDER OF THIS COVER PAGE SHALL NOT BE DEEMED TO BE "FILED" FOR THE PURPOSE OF SECTION 18 OF THE SECURITIES EXCHANGE ACT OF 1934 ("ACT") OR OTHERWISE SUBJECT TO THE LIABILITIES OF THAT SECTION OF THE ACT BUT SHALL BE SUBJECT TO ALL OTHER PROVISIONS OF THE ACT (HOWEVER, SEE THE NOTES). CUSIP NO:88579Y101 13G Page 2 of 5 Pages 1. NAME OF REPORTING PERSON: STATE STREET CORPORATION I.R.S. IDENTIFICATION NO. OF THE ABOVE PERSON: 04-2456637 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP NOT APPLICABLE 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION BOSTON, MASSACHUSETTS 5. SOLE VOTING POWER 0 SHARES 6. SHARED VOTING POWER 20,586,992 7. SOLE DISPOSITIVE POWER 0 SHARES 8. SHARED DISPOSITIVE POWER 35,820,369 9. AGGREGATED AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 35,839,898 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES NOT APPLICABLE 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 6.49% 12. TYPE OF REPORTING PERSON HC CUSIP NO: 88579Y101 13G Page 3 of 5 Pages ITEM 1. (A) NAME OF ISSUER 3M CO (B) ADDRESS OF ISSUER`S PRINCIPAL EXECUTIVE OFFICES 3M CENTER ST. PAUL MN 55144 UNITED STATES ITEM 2. (A) NAME OF PERSON FILING STATE STREET CORPORATION (B) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE STATE STREET FINANCIAL CENTER 1 CONGRESS STREET, SUITE 1 BOSTON, MA 02114-2016 (FOR ALL REPORTING PERSONS) (C) CITIZENSHIP: SEE ITEM 4 (CITIZENSHIP OR PLACE