May 13, 2023 – Huntington National Bank has recently disclosed in its most recent report to the Securities and Exchange Commission (SEC) that it had significantly reduced its position in Church & Dwight Co., Inc. (NYSE:CHD) during the fourth quarter. The bank sold more than 205,000 shares of the American manufacturing company, which amounts to nearly 47.4% of its total holdings in the firm. This led to Huntington National Bank now owning only 228,245 shares of Church & Dwight worth $18,399,000 as of the end of the period mentioned.
Meanwhile, a recent SEC filing showed that on Monday, May 1st, CEO Matthew Farrell sold 138,081 shares of CHD stock. The average sale price was set at $97.02, yielding a total value of $13,396,618.62. As a result of this transaction, Farrell gained ownership over 112,444 shares in Church & Dwight valued at around $10,909,316.88.
The same document also revealed that CFO Richard A. Dierker sold 88,630 shares of CHD stock on May 1st with an average selling price per share of $96.70; thereby fetching him a total sales value of $8,5705 million. In light of these insider transactions during the last three months alone, the company’s executives have sold about 389,193 shares worth $36.6 million thus far.
Church & Dwight currently trades under NYSE symbol CHD with a market capitalization valued at around $23.54 billion; it opened last Friday May at $96.38 per share amidst much anticipation from investors and analysts alike regarding its future performance.
Despite its high market capitalization however and having witnessed gains from both short-term and long-term investments this year because it is well-known for producing popular household commodities such as Arm&Hammer toothpaste and Trojan condoms – investors remain concerned about the recent decreases in ownership holdings across insiders and banks alike. This could signal poor long-term performance for Church & Dwight down the line.
Institutional Investors Eye Church & Dwight Co., Inc. Amid Mixed Activity
Church & Dwight Co., Inc. (NYSE:CHD) has been attracting attention from institutional investors, with a number adding to or reducing their stakes in the company. Old North State Trust LLC, for example, acquired a new position in Church & Dwight during Q3 2022 valued at approximately $30,000. Meanwhile, Glassman Wealth Services grew its stake by 39.1% in Q4 2022 and now owns 655 shares of the firm’s stock valued at $53,000.
Research analysts have issued reports on CHD shares and their consensus rating currently stands as “Hold” with a target price of $90.63. However, CEO Matthew Farrell recently sold a significant number of CHD shares – over 138,000 – in a transaction that totalled over $13 million. Similarly, CFO Richard A. Dierker sold over 88,000 shares with a worth of over $8 million.
Despite insider selling activity and mixed investor interest, Church & Dwight posted solid Q1 earnings results on April 27th, reporting $0.85 EPS for the quarter and revenue of $1.43 billion during the period- an increase of over 10% YoY that surpassed the consensus estimate.
Additionally, the business declared a quarterly dividend which will be paid on June 1st to investors who were recorded on May 15th and represents a full-year dividend yield of just over one percent.
Investors should monitor institutional investment movements carefully alongside diversified investments strategies before deciding on trading options relating to Church & Dwight’s performance in Q2 and beyond.
