Parametric Portfolio Associates LLC reduced its stake in shares of Newell Brands Inc. (NYSE:NWL) by 7.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 849,824 shares of the company’s stock after selling 66,172 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.17% of Newell Brands worth $36,262,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. BDO Wealth Advisors LLC acquired a new stake in Newell Brands in the second quarter valued at approximately $107,000. Parkside Investments LLC acquired a new stake in Newell Brands in the third quarter valued at approximately $107,000. Harfst & Associates Inc. lifted its stake in Newell Brands by 14.4% in the second 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 last quarter. BB&T Investment Services Inc. acquired a new stake in Newell Brands in the second quarter valued at approximately $143,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Newell Brands by 52.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,164 shares of the company’s stock worth $169,000 after buying an additional 1,088 shares during the last quarter. Hedge funds and other institutional investors own 94.29% of the company’s stock.
NWL has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut shares of Newell Brands from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $56.00 to $63.00 in a research note on Thursday, November 2nd. Oppenheimer restated a “hold” rating and issued a $42.00 price objective on shares of Newell Brands in a research note on Tuesday, October 31st. Jefferies Group reaffirmed a “hold” rating and set a $47.00 target price on shares of Newell Brands in a research report on Thursday, October 19th. Barclays reaffirmed a “buy” rating and set a $35.00 target price on shares of Newell Brands in a research report on Wednesday, December 6th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Newell Brands in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $45.20.
Shares of Newell Brands Inc. (NYSE:NWL) traded up $0.35 during trading on Friday, reaching $32.26. 3,464,400 shares of the company’s stock traded hands, compared to its average volume of 5,490,000. The company has a market cap of $15,810.00, a price-to-earnings ratio of 12.46, a PEG ratio of 1.20 and a beta of 1.10. 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 Inc. has a 12-month low of $27.45 and a 12-month high of $55.08.
Newell Brands (NYSE:NWL) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.86 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $3.71 billion. During the same period last year, the firm earned $0.78 EPS. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. sell-side analysts forecast that Newell Brands Inc. will post 2.81 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, November 30th were paid a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $0.92 annualized dividend and a dividend yield of 2.85%. Newell Brands’s dividend payout ratio is presently 35.52%.
Newell Brands announced that its Board of Directors has approved a stock buyback plan on Tuesday, September 26th that permits the company to repurchase $256.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
In other news, CEO Michael B. Polk bought 7,000 shares of Newell Brands stock in a transaction dated Monday, November 20th. The shares were bought at an average price of $28.22 per share, for a total transaction of $197,540.00. Following the purchase, the chief executive officer now owns 616,296 shares of the company’s stock, valued at $17,391,873.12. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.97% of the stock is currently owned by insiders.
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Newell Brands Company 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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