Engineers Gate Manager LP Boosts Stake in 3M

3M Company's (NYSE:MMM) stock has seen significant activity from institutional investors in recent quarters. Engineers Gate Manager LP, a notable hedge fund, increased its holdings in 3M by 74% during the second quarter, according to a recent SEC filing.

The firm now owns approximately 287,652 shares of 3M's stock, which comprises about 0.6% of its investment portfolio. This makes 3M one of Engineers Gate Manager LP's top holdings, ranking as its 19th biggest position.

Engineers Gate Manager LP acquired an additional 122,368 shares during the period, bringing its total holdings to $46,574,000 as of its most recent SEC filing. This is a notable increase in the firm's stake in 3M, indicating confidence in the company's future prospects.