Bradley C. Irwin, a director at Church & Dwight Co. Inc. (NYSE:CHD), recently sold a significant portion of his holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Irwin sold 13,200 shares of common stock on November 12. The shares were sold at prices ranging from $107.4307 to $107.4406, resulting in a total transaction value of approximately $1.42 million.
In addition to the sales, Irwin also exercised stock options to acquire 13,200 shares at a price of $50.28 per share, totaling approximately $663,696. Following these transactions, Irwin's direct ownership in Church & Dwight stands at 37,169.4474 shares.
Church & Dwight, based in Ewing, New Jersey, is known for its household and personal care products. The company's stock is traded on the New York Stock Exchange under the ticker symbol CHD.
In other recent news, Church & Dwight Co. Inc. reported a strong third quarter with a 3.8% increase in sales, surpassing the expected 2.5% growth. The company's adjusted earnings per share (EPS) for the quarter were $0.79, exceeding the forecast of $0.67. Despite a significant asset write-down in the gummy vitamins segment, Church & Dwight experienced growth in international sales and specialty products. TD Cowen maintained a Buy rating on the company's stock and increased the price target from $114.00 to $117.00 following these developments. On the other hand, Jefferies held its Hold rating with a price target of $108.00, indicating a cautious stance towards the U.S. consumer market. The company's recent performance and strategic initiatives, including an increase in marketing expenditures, were noted by both firms. These recent developments reflect Church & Dwight's robust performance and strategic outlook as it navigates the complexities of the current market environment.
InvestingPro Insights
To provide additional context to Bradley C. Irwin's recent stock transactions, it's worth examining Church & Dwight's current financial position and market performance. According to InvestingPro data, the company boasts a market capitalization of $26.46 billion, reflecting its significant presence in the household and personal care products industry.
Church & Dwight's stock has shown strong performance, with a 20.12% total return over the past year. The company is currently trading near its 52-week high, with its stock price at 97.9% of the peak. This robust performance aligns with the company's solid financial fundamentals.
InvestingPro Tips highlight Church & Dwight's commitment to shareholder value. The company has maintained dividend payments for 50 consecutive years and has raised its dividend for 20 consecutive years. This consistent dividend policy underscores the company's financial stability and may explain why directors like Irwin maintain substantial holdings even after selling portions of their stake.
Moreover, Church & Dwight operates with a moderate level of debt and has liquid assets exceeding short-term obligations, indicating a strong balance sheet. These factors contribute to the company's perfect Piotroski Score of 9, suggesting robust financial health.
It's worth noting that Church & Dwight is trading at a high P/E ratio of 48.2, which is elevated relative to its near-term earnings growth. This valuation metric might be a consideration for investors assessing the stock's current price levels.
For readers interested in a more comprehensive analysis, InvestingPro offers 13 additional tips on Church & Dwight, providing a deeper understanding of the company's financial position and market outlook.
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