Winton Group Buys into 3M with $4.5 Million Stake

Winton Group Ltd has acquired a new stake in shares of 3M Company (NYSE:MMM), purchasing approximately 28,239 shares valued at $4,572,000. This purchase was made in the second quarter, as disclosed by the company to the Securities & Exchange Commission.

Winton Group is not alone in its investment in MMM. Other hedge funds have also acquired new stakes in the company during this period. Commonwealth Retirement Investments LLC bought 28,000 shares valued at $28,000, while Compass Financial Management LLC purchased 38,000 shares worth about $38,000.

3M's second quarter earnings topped analysts' estimates at $2.40 per share, beating expectations of $2.25 per share. The company also announced a quarterly dividend of $0.78 per share, to be paid on September 11th to shareholders who own the stock by August 24th.

The stock's current price is $162.86, with a market capitalization of $83.99 billion and a P/E ratio of 28.93. The company has a one-year high of $184.90 and a low of $139.34.