Mattern Capital Management LLC Has $9.57 Million Stock Holdings in Colgate-Palmolive (NYSE:CL)

Mattern Capital Management LLC trimmed its position in shares of Colgate-Palmolive (NYSE:CL) by 0.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 92,163 shares of the company’s stock after selling 862 shares during the quarter. Mattern Capital Management LLC’s holdings in Colgate-Palmolive were worth $9,567,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Main Street Research LLC grew its position in Colgate-Palmolive by 1.5% during the 2nd quarter. Main Street Research LLC now owns 6,939 shares of the company’s stock worth $673,000 after acquiring an additional 100 shares during the last quarter. Advisor OS LLC grew its position in Colgate-Palmolive by 4.5% during the 2nd quarter. Advisor OS LLC now owns 2,348 shares of the company’s stock worth $228,000 after acquiring an additional 101 shares during the last quarter. BLB&B Advisors LLC grew its position in Colgate-Palmolive by 2.5% during the 2nd quarter. BLB&B Advisors LLC now owns 4,337 shares of the company’s stock worth $421,000 after acquiring an additional 104 shares during the last quarter. ZWJ Investment Counsel Inc. lifted its holdings in Colgate-Palmolive by 3.1% during the 2nd quarter. ZWJ Investment Counsel Inc. now owns 3,591 shares of the company’s stock worth $349,000 after buying an additional 109 shares in the last quarter. Finally, Hexagon Capital Partners LLC lifted its holdings in Colgate-Palmolive by 9.5% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,274 shares of the company’s stock worth $124,000 after buying an additional 110 shares in the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. JPMorgan Chase & Co. upped their price objective on Colgate-Palmolive from $113.00 to $114.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Barclays upped their price objective on Colgate-Palmolive from $91.00 to $96.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Piper Sandler assumed coverage on Colgate-Palmolive in a report on Tuesday, September 24th. They set an “overweight” rating and a $121.00 price objective on the stock. HSBC reaffirmed a “hold” rating on shares of Colgate-Palmolive in a report on Friday, July 26th. Finally, Jefferies Financial Group downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $103.00 to $95.00 in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

Colgate-Palmolive Price Performance

CL opened at $95.61 on Friday. The company has a quick ratio of 0.70, a current ratio of 1.06 and a debt-to-equity ratio of 16.90. Colgate-Palmolive has a 12 month low of $71.46 and a 12 month high of $109.30. The company has a fifty day simple moving average of $103.15 and a 200 day simple moving average of $97.98. The stock has a market cap of $78.44 billion, a P/E ratio of 30.26, a P/E/G ratio of 3.54 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last released its quarterly earnings data on Friday, October 25th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $5.01 billion. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. On average, research analysts expect that Colgate-Palmolive will post 3.57 EPS for the current year.

Colgate-Palmolive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Friday, October 18th. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 63.29%.

Insiders Place Their Bets

In other Colgate-Palmolive news, Director Martina Hundmejean sold 2,313 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the completion of the transaction, the director now owns 11,755 shares in the company, valued at approximately $1,220,874.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Martina Hundmejean sold 2,313 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the completion of the transaction, the director now owns 11,755 shares in the company, valued at $1,220,874.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Panagiotis Tsourapas sold 14,794 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $102.94, for a total value of $1,522,894.36. Following the completion of the transaction, the insider now owns 5,146 shares of the company’s stock, valued at $529,729.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,490 shares of company stock worth $4,486,063. Corporate insiders own 0.34% of the company’s stock.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.