Whittier Trust Co. raised its holdings in shares of Newell Brands Inc. (NYSE:NWL) by 85.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,658 shares of the company’s stock after purchasing an additional 4,921 shares during the period. Whittier Trust Co.’s holdings in Newell Brands were worth $455,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Eaton Vance Management raised its position in Newell Brands by 2.1% during the 2nd quarter. Eaton Vance Management now owns 4,055,702 shares of the company’s stock valued at $217,467,000 after purchasing an additional 82,184 shares during the last quarter. King Luther Capital Management Corp raised its position in Newell Brands by 1.0% during the 2nd quarter. King Luther Capital Management Corp now owns 3,203,006 shares of the company’s stock valued at $171,745,000 after purchasing an additional 30,576 shares during the last quarter. Bellwether Investment Group LLC grew its holdings in shares of Newell Brands by 2.0% during the 2nd quarter. Bellwether Investment Group LLC now owns 5,501 shares of the company’s stock worth $295,000 after acquiring an additional 110 shares during the period. FMR LLC grew its holdings in shares of Newell Brands by 0.5% during the 2nd quarter. FMR LLC now owns 11,462,512 shares of the company’s stock worth $614,621,000 after acquiring an additional 52,553 shares during the period. Finally, PICTET BANK & TRUST Ltd purchased a new position in shares of Newell Brands during the 2nd quarter worth approximately $2,102,000. 92.03% of the stock is owned by institutional investors and hedge funds.
Shares of Newell Brands Inc. (NYSE:NWL) traded down $0.80 on Friday, reaching $29.30. The company’s stock had a trading volume of 11,955,600 shares, compared to its average volume of 4,512,643. The company has a current ratio of 1.46, a quick ratio of 0.86 and a debt-to-equity ratio of 0.80. Newell Brands Inc. has a 1-year low of $29.22 and a 1-year high of $55.08. The stock has a market cap of $14,752.01, a P/E ratio of 10.49, a price-to-earnings-growth ratio of 1.01 and a beta of 1.20.
Newell Brands (NYSE:NWL) last issued its earnings results on Thursday, November 2nd. The company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.06). Newell Brands had a net margin of 8.34% and a return on equity of 11.52%. The business had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter in the prior year, the business posted $0.78 earnings per share. The business’s revenue for the quarter was down 7.0% on a year-over-year basis. equities analysts expect that Newell Brands Inc. will post 2.81 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.92 annualized dividend and a yield of 3.14%. Newell Brands’s dividend payout ratio is 35.52%.
Newell Brands declared that its board has authorized a stock repurchase plan on Tuesday, September 26th that permits the company to buyback $256.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
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In other news, Director Scott S. Cowen purchased 2,000 shares of the stock in a transaction dated Monday, September 11th. The shares were purchased at an average cost of $43.60 per share, with a total value of $87,200.00. Following the acquisition, the director now directly owns 87,883 shares of the company’s stock, valued at $3,831,698.80. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael B. Polk purchased 5,000 shares of the stock in a transaction dated Wednesday, September 13th. The shares were purchased at an average cost of $43.61 per share, for a total transaction of $218,050.00. Following the completion of the acquisition, the chief executive officer now directly owns 609,296 shares in the company, valued at $26,571,398.56. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 7,100 shares of company stock worth $309,715. Company insiders own 0.97% of the company’s stock.
A number of research analysts have weighed in on the company. Zacks Investment Research upgraded Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a report on Tuesday, August 1st. BidaskClub downgraded Newell Brands from a “hold” rating to a “sell” rating in a report on Friday, July 28th. J P Morgan Chase & Co set a $61.00 target price on Newell Brands and gave the stock a “buy” rating in a report on Monday, August 7th. Jefferies Group LLC reiterated a “buy” rating and set a $65.00 target price (down previously from $66.00) on shares of Newell Brands in a report on Monday, August 7th. Finally, BMO Capital Markets set a $51.00 target price on Newell Brands and gave the stock a “hold” rating in a report on Saturday, August 5th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $49.57.
About Newell Brands
Newell Brands Inc is a marketer of consumer and commercial products. The Company’s segments include Writing, Home Solutions, Commercial Products, Baby & Parenting, Branded Consumables, Consumer Solutions, Outdoor Solutions and Process Solutions. Its products are marketed under a portfolio of brands, including Paper Mate, Sharpie, Dymo, Expo, Parker, Elmer’s, Coleman, Jostens, Marmot, Rawlings, Mr.
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