This afternoon we watched 3M Company drop -1.5% to a price of $103.98 per share. The large-cap Medical Instruments & Supplies company is now trading -8.47% below its average target price of $113.6. Analysts have set target prices ranging from $96.0 to $123.4 per share for 3M Company, and have given the stock an average rating of hold.
The stock has an average amount of shares sold short at 2.0%, and a short ratio of 3.19. The company's insiders own 0.12% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that an average number of institutional investors are invested in the stock, with 67.4% of 3M Company's shares being owned by this investor type.
Institutions Invested in 3M Company
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-06-30 | Vanguard Group Inc | 9% | 48,716,196 | $5,065,510,223 |
| 2023-06-30 | Blackrock Inc. | 7% | 39,805,959 | $4,139,023,750 |
| 2023-06-30 | State Street Corporation | 6% | 33,311,747 | $3,463,755,564 |
| 2023-06-30 | Charles Schwab Investment Management, Inc. | 2% | 12,898,458 | $1,341,181,706 |
| 2023-06-30 | Geode Capital Management, LLC | 2% | 11,846,089 | $1,231,756,373 |
| 2023-06-30 | Morgan Stanley | 2% | 10,231,007 | $1,063,820,142 |
| 2023-06-30 | Flossbach von Storch AG | 2% | 9,580,844 | $996,216,191 |
| 2023-06-30 | State Farm Mutual Automobile Insurance Co | 2% | 9,557,100 | $993,747,290 |
| 2023-06-30 | Newport Trust Company, LLC | 2% | 8,520,186 | $885,928,968 |
| 2023-06-30 | Northern Trust Corporation | 1% | 6,846,439 | $711,892,750 |
Besides an analyst consensus of some upside potential, other market factors point to there being mixed market sentiment on 3M Company.
