Dimensional Fund Advisors LP grew its position in shares of Newell Brands Inc. (NYSE:NWL) by 30.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,122,155 shares of the company’s stock after acquiring an additional 489,138 shares during the period. Dimensional Fund Advisors LP owned about 0.43% of Newell Brands worth $90,528,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of NWL. Vanguard Group Inc. increased its position in shares of Newell Brands by 2.8% during the second quarter. Vanguard Group Inc. now owns 47,877,545 shares of the company’s stock valued at $2,567,193,000 after buying an additional 1,305,820 shares during the period. Capital World Investors grew its holdings in Newell Brands by 2.0% in the second quarter. Capital World Investors now owns 31,195,887 shares of the company’s stock worth $1,672,723,000 after purchasing an additional 610,973 shares during the period. BlackRock Inc. grew its holdings in Newell Brands by 1.8% in the second quarter. BlackRock Inc. now owns 30,518,491 shares of the company’s stock worth $1,636,402,000 after purchasing an additional 543,779 shares during the period. FMR LLC grew its holdings in Newell Brands by 0.5% in the second quarter. FMR LLC now owns 11,462,512 shares of the company’s stock worth $614,621,000 after purchasing an additional 52,553 shares during the period. Finally, American Century Companies Inc. grew its holdings in Newell Brands by 2.9% in the third quarter. American Century Companies Inc. now owns 7,946,423 shares of the company’s stock worth $339,074,000 after purchasing an additional 225,484 shares during the period. 94.29% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research cut shares of Newell Brands from a “hold” rating to a “sell” rating in a report on Tuesday, September 19th. KeyCorp set a $60.00 target price on shares of Newell Brands and gave the stock a “buy” rating in a research note on Monday, October 16th. BMO Capital Markets reiterated a “market perform” rating and issued a $45.00 target price (down previously from $51.00) on shares of Newell Brands in a research note on Thursday, September 21st. JPMorgan Chase & Co. dropped their target price on shares of Newell Brands from $58.00 to $56.00 and set an “overweight” rating on the stock in a research note on Thursday, September 21st. Finally, Jefferies Group reiterated a “hold” rating and issued a $47.00 target price on shares of Newell Brands in a research note on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the stock. Newell Brands currently has an average rating of “Hold” and a consensus target price of $45.20.
In related news, CEO Michael B. Polk bought 7,000 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was bought at an average cost of $28.22 per share, with a total value of $197,540.00. Following the completion of the purchase, the chief executive officer now owns 616,296 shares of the company’s stock, valued at approximately $17,391,873.12. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.97% of the company’s stock.
Shares of Newell Brands Inc. (NYSE:NWL) traded up $0.35 during midday trading on Friday, hitting $32.26. 3,520,000 shares of the stock were exchanged, compared to its average volume of 5,490,000. The company has a current ratio of 1.46, a quick ratio of 0.86 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $15,810.00, a PE ratio of 12.46, a PEG ratio of 1.20 and a beta of 1.10. Newell Brands Inc. has a 1 year low of $27.45 and a 1 year high of $55.08.
Newell Brands (NYSE:NWL) last announced its quarterly earnings data on Thursday, November 2nd. The company reported $0.86 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.06). The firm had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.71 billion. Newell Brands had a return on equity of 11.52% and a net margin of 8.34%. The business’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period last year, the company earned $0.78 earnings per share. sell-side analysts expect that Newell Brands Inc. will post 2.81 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, November 30th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $0.92 annualized dividend and a yield of 2.85%. Newell Brands’s payout ratio is 35.52%.
Newell Brands declared that its board has authorized a stock buyback plan on Tuesday, September 26th that authorizes the company to buyback $256.00 million in shares. This buyback authorization authorizes the company to purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
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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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