Kimberly-Clark sells $17.24m in stock

Kimberly-Clark has sold 156,488 shares in a transaction worth more than $17.24 million (11.44 million pounds).

The firm also announced its fourth quarter earnings, after stock prices declined by almost six percent due to disappointment profits.

It is known for its cost-saving initiatives and strong portfolio of brands, but has struggled against currency headwinds and lower demand.

For this year, the consumer goods staple company expects these pressures to continue weighing down sales and earnings, which is why it has lowered its guidance for 2015.

Kimberly-Clark reported revenues of $4.8 billion for the final three months of 2014, lower than the consensus estimate of $4.99 billion. On a year-on-year basis, earnings were down 1.4 percent.

Organic growth in sales totalled three percent, which was facilitated by an increase in volumes and average prices.

The firm is involved in the manufacturing and marketing of a range of products made from natural or synthetic fibres. It operates in several different areas, including personal care, consumer tissue, KC professional and healthcare.