3M: Major Shareholder Stock Sales in Q3

Insiders are generally long-term investors due to restriction in making short-term profits. In contrast, wealth management institutions always have short-term investment. Wall St. Watchdog reveals information regarding the insiders and institutions which recently decreased stock shares of 3M Co. (NYSE:MMM).

SEC data indicate these insiders have sold 3M Co.’s stock since 06/30/2011:

  • Buckley George W: act as CHAIRMAN OF THE BOARD & CEO(Click HERE for the list of stocks that their CEOs have bought). On 07/01/2011, sold 166,750 shares, worth $15,841,300.
  • Smith Marschall: act as VICE PRESIDENT LEGAL. On 06/30/2011, sold 6,000 shares, worth $570,000.
  • Meline David W: act as SR VP & CHIEF FINANCIAL OFCR. On 07/29/2011, sold 5,482 shares, worth $476,400.

SEC data indicate that these institutions significantly reduced their stock shares of 3M Co. in Q3 2011:

  • CAPITAL WORLD INVESTORS: On 06/30/2011, held 1,165,000 shares, worth $108,985,750. On 09/30/2011, held 0 shares.
  • COOPERMAN LEON G: On 06/30/2011, held 1,004,700 shares, worth $93,989,685. On 09/30/2011, held 0 shares.
  • ARTISAN PARTNERS HOLDINGS LP: On 06/30/2011, held 864,994 shares, worth $80,920,189. On 09/30/2011, held 0 shares.
  • SPINNAKER TRUST: On 06/30/2011, held 783,121 shares, worth $73,260,970. On 09/30/2011, held 0 shares.
  • GREAT LAKES ADVISORS INC: On 06/30/2011, held 606,577 shares, worth $56,745,278. On 09/30/2011, held 0 shares.

About the company: 3M Co. conducts operations in electronics, telecommunications, industrial, consumer and office, health care, safety, and other markets. The Company’s businesses share technologies, manufacturing operations, brands, marketing channels, and other resources. 3M serves customers in countries located around the world.

Competitors to Watch: General Electric Company (NYSE:GE), Danaher Corporation (NYSE:DHR), Johnson & Johnson (NYSE:JNJ), DENTSPLY Intl. Inc. (NASDAQ:XRAY), Tyco International Ltd. (NYSE:TYC), Carlisle Companies, Inc. (NYSE:CSL), Honeywell Intl. Inc. (NYSE:HON), Siemens AG (NYSE:SI), and E.I. du Pont de Nemours & Co. (NYSE:DD).

(Note: Data regarding 3M Co.’s stock holdings are sourced from whalewisdom.com. All data are assumed to be accurate.)

Advantage: Check out our interactive stock charts, fundamentals, Twitter stream, and more >>

Improve Your 2011 Financial Health: Join the winning team of stock pickers with Wall St. Cheat Sheet’s acclaimed premium newsletter>>

More from The Cheat Sheet