Weiss Asset Management LP Takes Position in Kimberly-Clark Corporation $KMB

Weiss Asset Management LP acquired a new position in Kimberly-Clark Corporation (NASDAQ:KMB) in the 1st quarter, Holdings Channel.com reports. The firm acquired 342,607 shares of the company’s stock, valued at approximately $33,046,000. Kimberly-Clark accounts for approximately 0.6% of Weiss Asset Management LP’s portfolio, making the stock its 23rd largest holding.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of Kimberly-Clark by 74.1% in the fourth quarter. Brighton Jones LLC now owns 6,494 shares of the company’s stock worth $851,000 after buying an additional 2,765 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Kimberly-Clark by 7.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 363,919 shares of the company’s stock valued at $46,923,000 after acquiring an additional 24,698 shares during the period. Treasurer of the State of North Carolina grew its stake in shares of Kimberly-Clark by 44.3% during 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 acquiring an additional 87,455 shares during the period. Main Street Financial Solutions LLC increased its holdings in Kimberly-Clark by 11.0% in the 2nd quarter. Main Street Financial Solutions LLC now owns 3,291 shares of the company’s stock worth $424,000 after acquiring an additional 326 shares in the last quarter. Finally, HUB Investment Partners LLC raised its stake in Kimberly-Clark by 20.5% during the 2nd quarter. HUB Investment Partners LLC now owns 10,639 shares of the company’s stock worth $1,372,000 after acquiring an additional 1,811 shares during the period. 76.29% of the stock is owned by institutional investors.

Kimberly-Clark Stock Up 2.2%

NASDAQ KMB opened at $109.70 on Friday. The stock’s 50 day moving average is $104.38 and its 200 day moving average is $101.99. The company has a current ratio of 0.77, a quick ratio of 0.55 and a debt-to-equity ratio of 3.38. Kimberly-Clark Corporation has a 12 month low of $92.42 and a 12 month high of $137.46. The stock has a market cap of $36.41 billion, a PE ratio of 17.22, a P/E/G ratio of 4.92 and a beta of 0.26.

Kimberly-Clark (NASDAQ:KMB) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.04. Kimberly-Clark had a return on equity of 152.79% and a net margin of 12.80%.The business had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same period in the prior year, the company posted $1.93 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. Research analysts predict that Kimberly-Clark Corporation will post 7.47 EPS for the current fiscal year.

Kimberly-Clark Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 5th were given a dividend of $1.28 per share. The ex-dividend date was Friday, June 5th. This represents a $5.12 dividend on an annualized basis and a dividend yield of 4.7%. Kimberly-Clark’s dividend payout ratio is currently 80.38%.

Wall Street Analysts Forecast Growth

KMB has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Kimberly-Clark from $110.00 to $109.00 and set a “hold” rating on the stock in a report on Monday, March 30th. Weiss Ratings reissued a “hold (c-)” rating on shares of Kimberly-Clark in a research note on Wednesday, June 24th. Piper Sandler raised their price objective on shares of Kimberly-Clark from $115.00 to $121.00 and gave the company an “overweight” rating in a research report on Wednesday, June 17th. Bank of America lowered their target price on shares of Kimberly-Clark from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. Finally, Wells Fargo & Company upped their target price on shares of Kimberly-Clark from $100.00 to $110.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 8th. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $117.93.

Insiders Place Their Bets

In other Kimberly-Clark news, VP Andrew Scribner sold 4,095 shares of Kimberly-Clark stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $98.00, for a total value of $401,310.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Katy Chen sold 1,596 shares of the business’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $95.34, for a total transaction of $152,162.64. Following the completion of the sale, the insider owned 8,362 shares in the company, valued at approximately $797,233.08. The trade was a 16.03% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 7,096 shares of company stock valued at $689,687. 0.75% of the stock is owned by company insiders.

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.