Highstreet Asset Management Inc. Acquires 9,792 Shares of Kimberly-Clark Corporation (KMB)
Highstreet Asset Management Inc. increased its holdings in shares of Kimberly-Clark Corporation (NYSE:KMB) by 178.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,281 shares of the company’s stock after purchasing an additional 9,792 shares during the period. Highstreet Asset Management Inc.’s holdings in Kimberly-Clark Corporation were worth $1,973,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Legal & General Group Plc boosted its stake in Kimberly-Clark Corporation by 3.7% in the first quarter. Legal & General Group Plc now owns 1,918,510 shares of the company’s stock valued at $252,551,000 after acquiring an additional 68,776 shares in the last quarter. Royce & Associates LP boosted its stake in Kimberly-Clark Corporation by 55.7% in the first quarter. Royce & Associates LP now owns 31,300 shares of the company’s stock valued at $4,120,000 after acquiring an additional 11,200 shares in the last quarter. Oarsman Capital Inc. boosted its stake in Kimberly-Clark Corporation by 3.0% in the first quarter. Oarsman Capital Inc. now owns 12,219 shares of the company’s stock valued at $1,608,000 after acquiring an additional 361 shares in the last quarter. First Financial Equity Corporation acquired a new stake in Kimberly-Clark Corporation in the first quarter valued at approximately $681,000. Finally, Investment Centers of America Inc. boosted its stake in Kimberly-Clark Corporation by 5.1% in the first quarter. Investment Centers of America Inc. now owns 55,053 shares of the company’s stock valued at $7,244,000 after acquiring an additional 2,671 shares in the last quarter. Hedge funds and other institutional investors own 70.01% of the company’s stock.
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Shares of Kimberly-Clark Corporation (KMB) opened at 117.30 on Thursday. The firm has a market capitalization of $41.44 billion, a P/E ratio of 19.59 and a beta of 0.76. Kimberly-Clark Corporation has a 1-year low of $111.30 and a 1-year high of $136.21. The stock’s 50 day moving average is $118.86 and its 200 day moving average is $125.27.
Kimberly-Clark Corporation (NYSE:KMB) last issued its quarterly earnings results on Tuesday, July 25th. The company reported $1.49 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.49. The firm had revenue of $4.55 billion during the quarter, compared to analysts’ expectations of $4.56 billion. Kimberly-Clark Corporation had a net margin of 11.82% and a return on equity of 636.30%. Kimberly-Clark Corporation’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.53 EPS. Equities analysts predict that Kimberly-Clark Corporation will post $6.21 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 3rd. Investors of record on Friday, September 8th were paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date was Thursday, September 7th. Kimberly-Clark Corporation’s dividend payout ratio is currently 64.88%.
In other Kimberly-Clark Corporation news, Director Robert W. Decherd purchased 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The stock was purchased at an average price of $122.21 per share, for a total transaction of $183,315.00. Following the purchase, the director now directly owns 43,444 shares in the company, valued at $5,309,291.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is owned by corporate insiders.
Several brokerages have weighed in on KMB. Zacks Investment Research downgraded shares of Kimberly-Clark Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 7th. Citigroup Inc. set a $134.00 target price on shares of Kimberly-Clark Corporation and gave the company a “sell” rating in a research note on Friday, July 7th. BidaskClub downgraded shares of Kimberly-Clark Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Berenberg Bank restated a “hold” rating on shares of Kimberly-Clark Corporation in a research note on Thursday, July 27th. Finally, UBS AG downgraded shares of Kimberly-Clark Corporation from a “buy” rating to a “neutral” rating and lowered their target price for the company from $134.00 to $120.00 in a research note on Wednesday, July 12th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $131.46.
About Kimberly-Clark Corporation
Kimberly-Clark Corporation is engaged in the manufacturing and marketing of a range of products made from natural or synthetic fibers. The Company’s segments include Personal Care, Consumer Tissue, K-C Professional and Corporate & Other. 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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