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3M shareholders: Who owns the most MMM stock?

By Rob Griffin

Edited by Jekaterina Drozdovica

14:24, 25 August 2022

3M company logo on headquarters building in Prague, Czech republic.
Who owns the most 3M stock? – Photo: Shutterstock, Josef Kubes

Shares in 3M (MMM), the US-based industrial-consumer conglomerate, have struggled due to lower-than-expected revenue and a pending lawsuit.

The company, which makes a variety of safety products, has seen its price fall 20% from $177.74 at the start of the year to $141.04 as the market closed on 24 August.

It’s waiting to see if legal action relating to allegedly defective combat earplugs made by subsidiary Aearo Technologies, which is undergoing bankruptcy proceedings, will be halted.

But what does this mean for 3M shareholders, and who are the institutions and individuals holding the most stock? Here we take a look at 3M biggest shareholders. 

What is 3M?

Originally known as Minnesota Mining and Manufacturing, 3M is a multinational conglomerate that’s been in operation since 1902. 

The company is well known for its research and development laboratory, and leverages its science and technology across multiple product categories. It’s organised into four business segments: safety and industrial, transportation and electronics, healthcare, and consumer. 

As of August 2022, the company makes more than 60,000 products that are used in homes, businesses, schools, hospitals and industry. 

The company launched on the New York Stock Exchange (NYSE) on 14 January 1946. Its ticker symbol is MMM. It now also trades on the Chicago and Swiss stock exchanges. In addition, it’s one of 30 companies listed on the Dow Jones Industrial Average, having become a member on 9 August 1976. 

Over the past 10 years, the stock has risen 52%, from $92.60 to the $141.04 level at the close on 24 August. The highest-ever stock price for the company was $220.83 on 26 January, 2018. 

3M stock price, 2017 - 2022

Aearo Technologies, which was acquired by 3M in 2008, has voluntarily initiated Chapter 11 proceedings in the wake of a lawsuit over allegedly defective combat arms earplugs. In a statement, 3M said it had committed $1bn to fund a trust to resolve all claims determined to be entitled to compensation. 

“The company believes that, absent the actions taken today, the claims could take years, if not decades, to litigate on a case-by-case basis,” it stated. “With this change in strategy, this process is intended to resolve claims related to Combat Arms Earplugs in a manner that is more efficient and equitable to all parties.”

Who are the shareholders of 3M?

Firstly, how many 3M shareholders are there? According to data from Nasdaq, 3M has 570 million outstanding shares. Its 2,393 institutional investors hold 374,202,675 shares. 

As of 25 August, institutional investors own 64.51% of the stock, retail investors 35.03%, and company insiders 0.46%, according to WallStreetZen

Some of the biggest  institutional 3M shareholders include asset management firms who own 3M stock on behalf of thousands of clients from around the world. Therefore, it’s hard to estimate the exact proportion between retail and institutional ownership. 

The Vanguard Group

Who owns the most shares of 3M? The US-based Vanguard Group does. It’s one of the world’s largest investment companies. It’s currently the largest individual 3M shareholder, owning 47.65 million shares, representing 8.37% of the company, according to ownership data from 3M


162.65 Price
-3.940% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 21:00 (UTC)
Spread 0.12


172.44 Price
-0.890% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 21:00 (UTC)
Spread 0.13


880.87 Price
-2.750% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 21:00 (UTC)
Spread 0.42


246.25 Price
-6.110% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 21:00 (UTC)
Spread 0.50

Vanguard has a unique structure. Instead of being owned by external shareholders, the company belongs to the people who invest in its funds.

Its founder, the late Jack Bogle, who died in 2019 at the age of 89, is credited with first introducing index tracker funds that provided people with a cheaper way to invest. 

State Street Global Advisors (SSgA)

The asset management arm of State Street Corporation has created exchange traded funds (ETFs), as well as running passive and active strategies, for more than four decades. It’s the second largest shareholder of 3M, with 32.68m shares. This represents an ownership stake of 5.74%. 

According to State Street, the business was established back in 1978 and now has $3.48trn in assets, and more than 2,000 institutional clients. 

BlackRock Fund Advisors

BlackRock (BLK) is one of the world’s leading asset management firms. It provides services to institutional, intermediary and retail clients. 

It is currently the third largest shareholder in 3M, with a 5.13% stake, courtesy of the 29.21m shares it holds. As of early 2022, BlackRock’s assets under management (AUM) totalled $9.57trn. 

The investment house offers a range of solutions, from rigorous fundamental and quantitative active management approaches aimed at maximising outperformance, to highly efficient indexing strategies designed to gain broad exposure to the world’s capital markets. 

Other 3M shareholders

MMM insiders have bought more MMM shares than they have sold in the last year, according to WallStreetZen data, as of 25 August. In addition, Security Exchange Commission (SEC) filings data reveal that a number of 3M insider investors own significant shares in the company.

They include Eric D. Hammes, the executive vice president of 3M, who sold 3,145 shares of 3M stock on Wednesday 17 August, 2022, according to filings with the SEC. The transaction made $463,384, as most of the stock was sold at an average price of $147. Hammes now has 8,818.40 shares.

Other prominent shareholders of 3M included John Patrick Banovetz, who is also an executive vice president at the company. 

Final thoughts

Knowing who owns the most 3M stock can help in understanding the company’s long-term goals and how it’s perceived by investors. It’s also worth bearing in mind that 3M’s major shareholders can wield substantial influence over the executives at the helm of businesses.

For example, there could be voting implications if one party owns a large percentage, according to Ryan Lightfoot-Aminoff, senior research analyst at Chelsea Financial Services.

“Large shareholders will often use their scale to demand a seat on the board and can steer business behaviour,” he told

However, ownership shouldn’t be the sole reason for buying a stock. Any decision on whether 3M is a good investment should depend on your investment goals, risk tolerance, and portfolio size.

It’s also important to carry out your own research before making any investment or trading decision – and to never invest or trade money that you can’t afford to lose. 


How many 3M shares are there?

According to data from Nasdaq to 25 August, 3M had 570 million outstanding shares.

How many shareholders does 3M have?

There were 2,393 institutional shareholders on 25 August, according to Nasdaq. These included a number of very high profile global investment companies.

Who owns 3M?

The company is owned by a combination of institutional and retail investors, as well as company insiders. As of 25 August, institutional investors held 64.51% of the stock, retail investors 35.03%, and company insiders 0.46%, according to WallStreetZen.

Markets in this article

91.38 USD
-1.83 -1.970%
766.26 USD
-22.82 -2.910%

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Capital Com is an execution-only service provider. The material provided in this article is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents and has not been prepared in accordance with the legal requirements designed to promote investment research independence. While the information in this communication, or on which this communication is based, has been obtained from sources that believes to be reliable and accurate, it has not undergone independent verification. No representation or warranty, whether expressed or implied, is made as to the accuracy or completeness of any information obtained from third parties. If you rely on the information on this page, then you do so entirely at your own risk.

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