Meyer Handelman Co. Buys 6,090 Shares of Kimberly-Clark Corporation $KMB

Meyer Handelman Co. lifted its stake in shares of Kimberly-Clark Corporation (NASDAQ:KMB) by 1.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 447,415 shares of the company’s stock after purchasing an additional 6,090 shares during the quarter. Kimberly-Clark accounts for about 1.3% of Meyer Handelman Co.’s holdings, making the stock its 22nd largest position. Meyer Handelman Co. owned about 0.13% of Kimberly-Clark worth $43,162,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in Kimberly-Clark by 74.1% during the 4th quarter. Brighton Jones LLC now owns 6,494 shares of the company’s stock worth $851,000 after acquiring an additional 2,765 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Kimberly-Clark by 7.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 363,919 shares of the company’s stock valued at $46,923,000 after purchasing an additional 24,698 shares during the period. Treasurer of the State of North Carolina boosted its holdings in Kimberly-Clark by 44.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 284,655 shares of the company’s stock valued at $36,698,000 after purchasing an additional 87,455 shares during the period. Main Street Financial Solutions LLC grew its position in shares of Kimberly-Clark by 11.0% during the 2nd quarter. Main Street Financial Solutions LLC now owns 3,291 shares of the company’s stock valued at $424,000 after purchasing an additional 326 shares in the last quarter. Finally, HUB Investment Partners LLC increased its holdings in shares of Kimberly-Clark by 20.5% in the second quarter. HUB Investment Partners LLC now owns 10,639 shares of the company’s stock worth $1,372,000 after purchasing an additional 1,811 shares during the period. Hedge funds and other institutional investors own 76.29% of the company’s stock.

Insider Activity

In other news, insider Katy Chen sold 1,596 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $95.34, for a total value of $152,162.64. Following the transaction, the insider owned 8,362 shares in the company, valued at approximately $797,233.08. This represents a 16.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Andrew Scribner sold 4,095 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $98.00, for a total transaction of $401,310.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 7,096 shares of company stock valued at $689,687 over the last ninety days. Corporate insiders own 0.75% of the company’s stock.

Kimberly-Clark Trading Up 1.3%

NASDAQ:KMB opened at $108.10 on Friday. The company has a debt-to-equity ratio of 3.38, a current ratio of 0.77 and a quick ratio of 0.55. The company’s 50-day simple moving average is $99.09 and its 200 day simple moving average is $100.73. Kimberly-Clark Corporation has a one year low of $92.42 and a one year high of $137.46. The firm has a market capitalization of $35.88 billion, a P/E ratio of 16.97, a PEG ratio of 4.79 and a beta of 0.28.

Kimberly-Clark (NASDAQ:KMB) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.04. The firm had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.09 billion. Kimberly-Clark had a return on equity of 152.79% and a net margin of 12.80%.The company’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the company earned $1.93 earnings per share. As a group, analysts forecast that Kimberly-Clark Corporation will post 7.48 EPS for the current fiscal year.

Kimberly-Clark Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Friday, June 5th will be issued a $1.28 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $5.12 annualized dividend and a yield of 4.7%. Kimberly-Clark’s payout ratio is 80.38%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on KMB shares. UBS Group lifted their price objective on Kimberly-Clark from $105.00 to $106.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Kimberly-Clark in a report on Friday, March 27th. Bank of America dropped their price target on Kimberly-Clark from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, April 10th. Piper Sandler upped their price objective on shares of Kimberly-Clark from $115.00 to $121.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 17th. Finally, Wells Fargo & Company lowered their price target on Kimberly-Clark from $110.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $115.43.

About Kimberly-Clark

Kimberly-Clark Corporation is a U.S.-based multinational manufacturer of personal care and consumer tissue products. The company develops, produces and markets a range of consumer brands and professional products, including facial and bathroom tissues, disposable diapers and training pants, feminine care, incontinence products and workplace hygiene solutions. Known for consumer-facing names such as Kleenex, Huggies, Kotex, Cottonelle and Scott, as well as professional offerings under Kimberly-Clark Professional and KleenGuard, the company supplies goods to retail, healthcare and institutional customers.

Founded in 1872 in Neenah, Wisconsin, Kimberly-Clark has expanded from its 19th-century paper-making roots into a global household and workplace products company.