Clorox Co (CLX.N) posted a slightly lower quarterly profit on Wednesday, as the bleach maker absorbed higher materials costs, but said it expects about $20 million less cost pressure this year than it previously did. The company, which last month rebuffed two takeover offers from Carl Icahn, earned $169 million, or $1.26 per share, in the fiscal fourth quarter that ended in June, down from $171 million, or $1.20 per share, on more shares a year earlier. Sales rose 3.7 percent to $1.48 billion. In late July, the maker of Hidden Valley Ranch salad dressing and Brita water filters called the latest bid from Icahn, its largest shareholder, inadequate. The bid of $80 per share valued Clorox at $10.66 billion.
The Clorox Company (Clorox) is a manufacturer and marketer of consumer and institutional products. Shares of CLX fell by 1.17% or $-0.83/share to $70.29. In the past year, the shares have traded as low as $60.56 and as high as $75.44. On average, 1638360 shares of CLX exchange hands on a given day and today's volume is recorded at 1181058.
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