Weiss Asset Management LP Invests $33.05 Million in Kimberly-Clark Corporation $KMB

Weiss Asset Management LP purchased a new position in Kimberly-Clark Corporation (NASDAQ:KMB) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 342,607 shares of the company’s stock, valued at approximately $33,046,000. Kimberly-Clark makes up 0.6% of Weiss Asset Management LP’s investment portfolio, making the stock its 23rd largest holding. Weiss Asset Management LP owned approximately 0.10% of Kimberly-Clark at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of KMB. Darwin Wealth Management LLC purchased a new position in Kimberly-Clark in the second quarter worth about $27,000. Godfrey Financial Associates Inc. purchased a new stake in shares of Kimberly-Clark during the fourth quarter valued at approximately $25,000. Eagle Bay Advisors LLC bought a new stake in shares of Kimberly-Clark during the fourth quarter valued at approximately $28,000. CrossGen Wealth LLC bought a new stake in shares of Kimberly-Clark during the fourth quarter valued at approximately $27,000. Finally, Newbridge Financial Services Group Inc. raised its holdings in Kimberly-Clark by 96.6% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 285 shares of the company’s stock worth $29,000 after acquiring an additional 140 shares during the last quarter. 76.29% of the stock is owned by hedge funds and other institutional investors.

Kimberly-Clark Trading Up 2.2%

Shares of KMB stock opened at $109.70 on Friday. Kimberly-Clark Corporation has a 12-month low of $92.42 and a 12-month high of $137.46. The company has a current ratio of 0.77, a quick ratio of 0.55 and a debt-to-equity ratio of 3.38. The firm’s 50 day moving average is $104.38 and its 200 day moving average is $101.99. The stock has a market capitalization of $36.41 billion, a P/E 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 earnings results on Tuesday, April 28th. The company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.04. The business had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.09 billion. Kimberly-Clark had a net margin of 12.80% and a return on equity of 152.79%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.93 EPS. Research analysts expect that Kimberly-Clark Corporation will post 7.47 earnings per share for the current year.

Kimberly-Clark Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on KMB shares. Bank of America lowered their price objective on Kimberly-Clark from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, April 10th. Piper Sandler lifted their target price on Kimberly-Clark from $115.00 to $121.00 and gave the stock an “overweight” rating in a report on Wednesday, June 17th. Barclays boosted their price target on Kimberly-Clark from $101.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Wells Fargo & Company upped their price target on Kimberly-Clark from $100.00 to $110.00 and gave the company an “equal weight” rating in a report on Wednesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Kimberly-Clark from $110.00 to $109.00 and set a “hold” rating on the stock in a research report on Monday, March 30th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently 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 the firm’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $98.00, for a total value of $401,310.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Katy Chen sold 1,596 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $95.34, for a total value of $152,162.64. Following the sale, the insider owned 8,362 shares of the company’s stock, valued at approximately $797,233.08. This represents a 16.03% decrease in their ownership of the stock. 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 quarter, insiders have sold 7,096 shares of company stock valued at $689,687. 0.75% of the stock is owned by company insiders.

Kimberly-Clark Company Profile

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.