Novare Capital Management LLC lifted its position in Newell Brands Inc. (NYSE:NWL) by 11.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 136,805 shares of the company’s stock after purchasing an additional 14,585 shares during the quarter. Novare Capital Management LLC’s holdings in Newell Brands were worth $5,837,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. BDO Wealth Advisors LLC purchased a new stake in Newell Brands during the 2nd quarter valued at about $107,000. Parkside Investments LLC purchased a new stake in Newell Brands during the 3rd quarter valued at about $107,000. Harfst & Associates Inc. boosted its holdings in Newell Brands by 14.4% during the 2nd quarter. Harfst & Associates Inc. now owns 2,502 shares of the company’s stock valued at $134,000 after acquiring an additional 315 shares during the period. BB&T Investment Services Inc. bought a new position in Newell Brands during the 2nd quarter valued at approximately $143,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in Newell Brands by 52.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,164 shares of the company’s stock valued at $169,000 after purchasing an additional 1,088 shares during the last quarter. Institutional investors own 91.42% of the company’s stock.
A number of research analysts have commented on the company. Zacks Investment Research raised Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research report on Tuesday, August 1st. J P Morgan Chase & Co set a $61.00 price target on Newell Brands and gave the company a “buy” rating in a research report on Monday, August 7th. BMO Capital Markets lowered their price target on Newell Brands from $45.00 to $32.00 and set a “market perform” rating for the company in a research report on Tuesday, November 7th. Jefferies Group LLC reaffirmed a “buy” rating and set a $65.00 price target (down previously from $66.00) on shares of Newell Brands in a research report on Monday, August 7th. Finally, Forward View reaffirmed a “buy” rating and set a $35.00 price target on shares of Newell Brands in a research report on Sunday, November 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 stock. Newell Brands presently has an average rating of “Hold” and an average target price of $49.57.
In related news, CEO Michael B. Polk acquired 5,000 shares of Newell Brands stock in a transaction that occurred on Wednesday, September 13th. The stock was bought at an average price of $43.61 per share, with a total value of $218,050.00. Following the transaction, the chief executive officer now directly owns 609,296 shares in the company, valued at $26,571,398.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Scott S. Cowen acquired 2,000 shares of Newell Brands stock in a transaction that occurred on Monday, September 11th. The shares were bought at an average cost of $43.60 per share, with a total value of $87,200.00. Following the transaction, the director now owns 87,883 shares in the company, valued at $3,831,698.80. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 7,100 shares of company stock valued at $309,715. 0.97% of the stock is owned by corporate insiders.
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Shares of Newell Brands Inc. (NYSE NWL) traded up $0.17 during trading hours on Friday, hitting $28.18. The stock had a trading volume of 7,637,000 shares, compared to its average volume of 4,596,539. Newell Brands Inc. has a 12-month low of $27.45 and a 12-month high of $55.08. The company has a market cap of $13,880.00, a price-to-earnings ratio of 9.76, a P/E/G ratio of 1.13 and a beta of 1.20. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.46 and a quick ratio of 0.86.
Newell Brands (NYSE:NWL) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.86 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.06). Newell Brands had a net margin of 6.37% and a return on equity of 7.53%. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same period last year, the business earned $0.78 EPS. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. analysts forecast that Newell Brands Inc. will post 2.81 earnings per share for the current fiscal year.
Newell Brands declared that its board has authorized a share buyback plan on Tuesday, September 26th that authorizes the company to buyback $256.00 million in shares. This buyback authorization authorizes the company to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Wednesday, November 29th. Newell Brands’s dividend payout ratio (DPR) is presently 35.52%.
Newell Brands Profile
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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