Ascension Asset Management LLC Lowers Stake in Clorox Co (NYSE:CLX)

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Ascension Asset Management LLC reduced its stake in shares of Clorox Co (NYSE:CLX) by 5.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,200 shares of the company’s stock after selling 285 shares during the quarter. Ascension Asset Management LLC’s holdings in Clorox were worth $790,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Asahi Life Asset Management CO. LTD. purchased a new stake in shares of Clorox during the second quarter valued at $340,000. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Clorox by 3.2% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 27,406 shares of the company’s stock valued at $4,196,000 after purchasing an additional 858 shares during the period. Ontario Teachers Pension Plan Board boosted its stake in shares of Clorox by 209.0% during the second quarter. Ontario Teachers Pension Plan Board now owns 37,846 shares of the company’s stock valued at $5,795,000 after purchasing an additional 25,599 shares during the period. CWM LLC boosted its stake in shares of Clorox by 75.6% during the second quarter. CWM LLC now owns 92,127 shares of the company’s stock valued at $14,106,000 after purchasing an additional 39,668 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Clorox by 4.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 969,843 shares of the company’s stock valued at $148,493,000 after purchasing an additional 39,390 shares during the period. 78.45% of the stock is owned by hedge funds and other institutional investors.

In other Clorox news, SVP Michael R. Costello sold 3,225 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $161.34, for a total transaction of $520,321.50. Following the completion of the sale, the senior vice president now directly owns 29,669 shares of the company’s stock, valued at $4,786,796.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Diego J. Barral sold 1,987 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $157.59, for a total transaction of $313,131.33. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,609 shares of company stock valued at $2,497,443. Insiders own 1.14% of the company’s stock.

CLX stock opened at $148.44 on Wednesday. The firm has a market cap of $18.70 billion, a price-to-earnings ratio of 23.51, a PEG ratio of 4.99 and a beta of 0.40. The firm has a 50-day simple moving average of $153.35 and a two-hundred day simple moving average of $154.80. Clorox Co has a one year low of $143.58 and a one year high of $167.70. The company has a debt-to-equity ratio of 4.09, a quick ratio of 0.55 and a current ratio of 0.91.

Clorox (NYSE:CLX) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.84 by $0.04. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.69 billion. Clorox had a net margin of 13.20% and a return on equity of 118.88%. The company’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.66 earnings per share. As a group, equities analysts predict that Clorox Co will post 6.14 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Wednesday, October 30th will be given a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Tuesday, October 29th. Clorox’s payout ratio is 67.09%.

A number of analysts recently weighed in on CLX shares. Morgan Stanley reaffirmed an “underweight” rating and issued a $134.00 price objective (down from $144.00) on shares of Clorox in a research note on Monday, September 30th. UBS Group lowered their price objective on shares of Clorox from $128.00 to $125.00 and set a “sell” rating for the company in a research note on Thursday, October 3rd. Bank of America lowered their price objective on shares of Clorox from $165.00 to $160.00 and set a “neutral” rating for the company in a research note on Thursday, October 3rd. Deutsche Bank lowered their price objective on shares of Clorox from $151.00 to $145.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Finally, Zacks Investment Research raised shares of Clorox from a “sell” rating to a “hold” rating and set a $175.00 price objective for the company in a research note on Monday, July 29th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $152.25.

Clorox Profile

The Clorox Company manufactures and markets consumer and professional products worldwide. It operates through four segments: Cleaning, Household, Lifestyle, and International. The company offers laundry additives, including bleach products under the Clorox brand, as well as Clorox 2 stain fighter and color booster; home care products primarily under the Clorox, Formula 409, Liquid-Plumr, Pine-Sol, S.O.S, and Tilex brands; naturally derived products under the Green Works brand; and professional cleaning, disinfecting, and food service products under the Clorox, Dispatch, HealthLink, Clorox Healthcare, Hidden Valley, KC Masterpiece, and Soy Vay brands.

Further Reading: Investing in Dividend Stocks

Institutional Ownership by Quarter for Clorox (NYSE:CLX)

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