Triasima Portfolio Management inc. Makes New Investment in Colgate-Palmolive (NYSE:CL)

Triasima Portfolio Management inc. bought a new position in shares of Colgate-Palmolive (NYSE:CL) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 14,000 shares of the company’s stock, valued at approximately $1,359,000.

A number of other institutional investors have also recently modified their holdings of CL. Ballentine Partners LLC grew its stake in Colgate-Palmolive by 9.6% in the 2nd quarter. Ballentine Partners LLC now owns 10,229 shares of the company’s stock valued at $993,000 after acquiring an additional 893 shares during the period. Caprock Group LLC grew its position in shares of Colgate-Palmolive by 112.6% in the second quarter. Caprock Group LLC now owns 19,325 shares of the company’s stock valued at $1,875,000 after purchasing an additional 10,235 shares during the period. Lynch & Associates IN increased its stake in shares of Colgate-Palmolive by 3.8% during the second quarter. Lynch & Associates IN now owns 27,009 shares of the company’s stock worth $2,621,000 after purchasing an additional 977 shares in the last quarter. Financial Gravity Asset Management Inc. raised its position in shares of Colgate-Palmolive by 5.8% during the 2nd quarter. Financial Gravity Asset Management Inc. now owns 23,085 shares of the company’s stock worth $2,240,000 after purchasing an additional 1,260 shares during the last quarter. Finally, Custom Index Systems LLC purchased a new position in Colgate-Palmolive in the 2nd quarter valued at about $530,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Colgate-Palmolive Trading Down 0.6 %

Shares of NYSE:CL traded down $0.67 during midday trading on Friday, reaching $107.86. 3,937,393 shares of the company’s stock were exchanged, compared to its average volume of 4,328,661. The firm’s 50 day simple moving average is $101.07 and its two-hundred day simple moving average is $94.52. Colgate-Palmolive has a fifty-two week low of $67.62 and a fifty-two week high of $109.30. The company has a debt-to-equity ratio of 16.90, a current ratio of 1.06 and a quick ratio of 0.70. The stock has a market cap of $88.49 billion, a price-to-earnings ratio of 34.13, a P/E/G ratio of 3.73 and a beta of 0.40.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings results on Friday, July 26th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Colgate-Palmolive had a net margin of 14.21% and a return on equity of 470.19%. The business had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5 billion. During the same period last year, the business earned $0.77 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, sell-side analysts forecast that Colgate-Palmolive will post 3.57 EPS for the current fiscal year.

Colgate-Palmolive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Friday, July 19th. Colgate-Palmolive’s dividend payout ratio (DPR) is 63.29%.

Insider Transactions at Colgate-Palmolive

In related news, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the sale, the director now owns 11,755 shares in the company, valued at approximately $1,220,874.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction that occurred on Friday, August 23rd. The shares were 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sally Massey sold 15,850 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the sale, the insider now owns 13,942 shares in the company, valued at $1,439,929.76. The disclosure for this sale can be found here. Insiders sold a total of 43,490 shares of company stock worth $4,486,063 over the last ninety days. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CL. HSBC reiterated a “hold” rating on shares of Colgate-Palmolive in a research note on Friday, July 26th. Argus raised their price objective on Colgate-Palmolive from $97.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Bank of America upped their target price on shares of Colgate-Palmolive from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Citigroup increased their target price on shares of Colgate-Palmolive from $103.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Redburn Atlantic upgraded shares of Colgate-Palmolive to a “hold” rating in a research report on Thursday, August 1st. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.53.

Colgate-Palmolive 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.