Sit Investment Associates Inc. Has $19,683,000 Position in Kimberly-Clark Corp. (KMB)
Sit Investment Associates Inc. decreased its position in shares of Kimberly-Clark Corp. (NYSE:KMB) by 60.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 143,170 shares of the company’s stock after selling 222,940 shares during the period. Sit Investment Associates Inc.’s holdings in Kimberly-Clark Corp. were worth $19,683,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in KMB. American Century Companies Inc. bought a new position in Kimberly-Clark Corp. during the second quarter worth about $112,177,000. Bank of Montreal Can bought a new position in Kimberly-Clark Corp. during the second quarter worth about $72,980,000. Canada Pension Plan Investment Board increased its position in Kimberly-Clark Corp. by 148.8% in the first quarter. Canada Pension Plan Investment Board now owns 601,337 shares of the company’s stock worth $80,886,000 after buying an additional 359,657 shares during the period. Virginia Retirement System bought a new position in Kimberly-Clark Corp. during the first quarter worth about $34,661,000. Finally, Bessemer Group Inc. increased its position in Kimberly-Clark Corp. by 248.3% in the first quarter. Bessemer Group Inc. now owns 359,737 shares of the company’s stock worth $48,389,000 after buying an additional 256,445 shares during the period. Institutional investors and hedge funds own 68.37% of the company’s stock.
Kimberly-Clark Corp. (NYSE:KMB) traded down 0.66% during trading on Monday, reaching $122.20. The company had a trading volume of 658,615 shares. The firm’s 50 day moving average price is $125.64 and its 200 day moving average price is $130.08. Kimberly-Clark Corp. has a 12-month low of $114.36 and a 12-month high of $138.87. The firm has a market capitalization of $43.95 billion, a PE ratio of 22.66 and a beta of 0.42.
Kimberly-Clark Corp. (NYSE:KMB) last announced its earnings results on Monday, July 25th. The company reported $1.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.48 by $0.05. Kimberly-Clark Corp. had a net margin of 10.70% and a return on equity of 815.72%. The business earned $4.60 billion during the quarter, compared to the consensus estimate of $4.56 billion. During the same quarter last year, the firm earned $1.41 earnings per share. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. Equities research analysts forecast that Kimberly-Clark Corp. will post $6.08 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 4th. Shareholders of record on Friday, September 9th were paid a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date was Wednesday, September 7th. Kimberly-Clark Corp.’s dividend payout ratio is 68.40%.
KMB has been the subject of a number of analyst reports. Zacks Investment Research downgraded Kimberly-Clark Corp. from a “hold” rating to a “sell” rating in a research note on Monday, July 18th. Goldman Sachs Group Inc. restated a “conviction-buy” rating and issued a $156.00 target price (up previously from $152.00) on shares of Kimberly-Clark Corp. in a research note on Friday, July 15th. Deutsche Bank AG restated a “hold” rating and issued a $132.00 target price (up previously from $130.00) on shares of Kimberly-Clark Corp. in a research note on Sunday, July 24th. Citigroup Inc. boosted their target price on Kimberly-Clark Corp. from $135.00 to $139.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th. Finally, Atlantic Securities initiated coverage on Kimberly-Clark Corp. in a research note on Monday. They issued an “underweight” rating and a $124.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $135.22.
In other Kimberly-Clark Corp. news, SVP Thomas J. Mielke sold 11,946 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $127.37, for a total transaction of $1,521,562.02. Following the completion of the transaction, the senior vice president now owns 33,557 shares of the company’s stock, valued at $4,274,155.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Thomas J. Falk sold 206,445 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $133.40, for a total transaction of $27,539,763.00. Following the transaction, the chairman now directly owns 125,574 shares of the company’s stock, valued at approximately $16,751,571.60. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.
About Kimberly-Clark Corp.
Kimberly-Clark Corporation is engaged in the manufacturing and marketing of a range of products made from natural or synthetic fibers. The Company operates through three segments: Personal Care, Consumer Tissue and K-C Professional. The Company’s Personal Care segment offers various solutions and products, such as disposable diapers, training and youth pants, swimpants, baby wipes, feminine and incontinence care products, and other related products.
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