OVERSEA CHINESE BANKING Corp Ltd Invests $3.89 Million in Kimberly-Clark Corporation $KMB

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Kimberly-Clark Corporation (NASDAQ:KMB) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 35,470 shares of the company’s stock, valued at approximately $3,894,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Kimberly-Clark during the second quarter worth $3,547,915,000. Wellington Management Group LLP grew its stake in shares of Kimberly-Clark by 26,997.7% in the fourth quarter. Wellington Management Group LLP now owns 7,368,407 shares of the company’s stock valued at $743,399,000 after buying an additional 7,341,215 shares in the last quarter. Norges Bank purchased a new stake in shares of Kimberly-Clark in the 4th quarter valued at $521,184,000. Bank of New York Mellon Corp purchased a new stake in shares of Kimberly-Clark in the 2nd quarter valued at $239,612,000. Finally, Diamond Hill Capital Management LLC Investment Advisor acquired a new position in Kimberly-Clark during the 2nd quarter worth about $188,902,000. Hedge funds and other institutional investors own 76.29% of the company’s stock.

Wall Street Analyst Weigh In

KMB has been the subject of a number of research analyst reports. Wells Fargo & Company raised their target price on Kimberly-Clark from $100.00 to $110.00 and gave the company an “equal weight” rating in a report on Wednesday, July 8th. Weiss Ratings raised shares of Kimberly-Clark from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 28th. UBS Group raised their price objective on shares of Kimberly-Clark from $115.00 to $116.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Seaport Research Partners upgraded shares of Kimberly-Clark to a “buy” rating in a report on Tuesday, August 4th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Kimberly-Clark in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $117.93.

Kimberly-Clark Trading Down 1.1%

KMB opened at $108.69 on Friday. The business has a fifty day moving average price of $108.75 and a 200 day moving average price of $103.39. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.91 and a quick ratio of 0.69. Kimberly-Clark Corporation has a 12 month low of $92.42 and a 12 month high of $134.38. The stock has a market capitalization of $36.15 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 5.23 and a beta of 0.26.

Kimberly-Clark (NASDAQ:KMB) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.21). Kimberly-Clark had a net margin of 11.79% and a return on equity of 143.92%. The company had revenue of $4.19 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same period in the prior year, the business earned $1.92 EPS. Kimberly-Clark’s revenue for the quarter was up .6% on a year-over-year basis. Sell-side analysts expect that Kimberly-Clark Corporation will post 7.43 earnings per share for the current fiscal year.

Kimberly-Clark Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 4th will be paid a $1.28 dividend. The ex-dividend date is Friday, September 4th. This represents a $5.12 dividend on an annualized basis and a yield of 4.7%. Kimberly-Clark’s payout ratio is currently 87.07%.

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.