Mattern Capital Management LLC Has $8.35 Million Holdings in Colgate-Palmolive Company $CL

Mattern Capital Management LLC raised its holdings in Colgate-Palmolive Company (NYSE:CL) by 7.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 105,600 shares of the company’s stock after buying an additional 7,416 shares during the quarter. Mattern Capital Management LLC’s holdings in Colgate-Palmolive were worth $8,345,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Invesco Ltd. lifted its stake in Colgate-Palmolive by 13.1% in the third quarter. Invesco Ltd. now owns 8,467,993 shares of the company’s stock valued at $676,931,000 after buying an additional 978,943 shares during the period. Diamond Hill Capital Management Inc. raised its position in shares of Colgate-Palmolive by 46.7% during the third quarter. Diamond Hill Capital Management Inc. now owns 8,077,549 shares of the company’s stock worth $645,719,000 after purchasing an additional 2,572,796 shares during the period. Ameriprise Financial Inc. raised its position in shares of Colgate-Palmolive by 5.1% during the third quarter. Ameriprise Financial Inc. now owns 6,423,764 shares of the company’s stock worth $517,167,000 after purchasing an additional 314,584 shares during the period. Amundi raised its position in shares of Colgate-Palmolive by 41.6% during the third quarter. Amundi now owns 6,294,445 shares of the company’s stock worth $487,505,000 after purchasing an additional 1,850,412 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Colgate-Palmolive by 2.8% during the third quarter. Legal & General Group Plc now owns 5,919,524 shares of the company’s stock worth $473,207,000 after purchasing an additional 162,253 shares during the period. 80.41% of the stock is owned by institutional investors and hedge funds.

Colgate-Palmolive Trading Up 1.1%

Shares of Colgate-Palmolive stock opened at $84.65 on Friday. The stock has a fifty day simple moving average of $88.79 and a 200 day simple moving average of $83.87. Colgate-Palmolive Company has a 12-month low of $74.54 and a 12-month high of $99.33. The company has a market capitalization of $67.92 billion, a P/E ratio of 32.31, a price-to-earnings-growth ratio of 4.28 and a beta of 0.34. The company has a current ratio of 0.83, a quick ratio of 0.54 and a debt-to-equity ratio of 18.82.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.04. Colgate-Palmolive had a return on equity of 353.72% and a net margin of 10.45%.The business had revenue of $5.23 billion during the quarter, compared to the consensus estimate of $5.13 billion. During the same quarter in the prior year, the company posted $0.91 earnings per share. Colgate-Palmolive’s revenue was up 5.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Colgate-Palmolive Company will post 3.85 earnings per share for the current fiscal year.

Colgate-Palmolive Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 20th will be paid a $0.53 dividend. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, April 20th. This represents a $2.12 dividend on an annualized basis and a yield of 2.5%. Colgate-Palmolive’s dividend payout ratio is currently 80.92%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CL shares. Bank of America lowered their target price on Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday, April 10th. Citigroup upped their target price on Colgate-Palmolive from $95.00 to $105.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Royal Bank Of Canada set a $102.00 target price on Colgate-Palmolive in a research report on Thursday, April 9th. JPMorgan Chase & Co. lowered their target price on Colgate-Palmolive from $97.00 to $95.00 and set an “overweight” rating on the stock in a research report on Friday, April 17th. Finally, Evercore upped their price target on Colgate-Palmolive from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Twelve investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.56.

Insiders Place Their Bets

In other Colgate-Palmolive news, COO Panagiotis Tsourapas sold 35,000 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $94.61, for a total value of $3,311,350.00. Following the completion of the transaction, the chief operating officer owned 10,415 shares in the company, valued at $985,363.15. This represents a 77.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Hazlin sold 20,989 shares of the company’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $94.25, for a total value of $1,978,213.25. Following the completion of the transaction, the insider owned 17,645 shares of the company’s stock, valued at $1,663,041.25. This trade represents a 54.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 184,683 shares of company stock worth $17,486,693 over the last 90 days. Company insiders own 0.43% of the company’s stock.

About Colgate-Palmolive

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.