SeaBridge Investment Advisors LLC grew its stake in Newell Brands Inc (NYSE:NWL) by 15.8% during the third quarter, HoldingsChannel reports. The fund owned 268,456 shares of the company’s stock after purchasing an additional 36,571 shares during the quarter. Newell Brands makes up 1.4% of SeaBridge Investment Advisors LLC’s investment portfolio, making the stock its 19th biggest position. SeaBridge Investment Advisors LLC’s holdings in Newell Brands were worth $5,450,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the business. Northwest Wealth Management LLC boosted its stake in shares of Newell Brands by 5,180.7% during the second quarter. Northwest Wealth Management LLC now owns 4,383 shares of the company’s stock valued at $113,000 after purchasing an additional 4,300 shares in the last quarter. Piedmont Investment Advisors LLC bought a new position in shares of Newell Brands during the second quarter valued at approximately $146,000. Qube Research & Technologies Ltd bought a new position in shares of Newell Brands during the second quarter valued at approximately $149,000. BlueMountain Capital Management LLC bought a new position in shares of Newell Brands during the second quarter valued at approximately $151,000. Finally, WINTON GROUP Ltd bought a new position in shares of Newell Brands during the first quarter valued at approximately $211,000. Institutional investors and hedge funds own 97.83% of the company’s stock.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Newell Brands from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 9th. Barclays reiterated a “hold” rating and set a $24.00 price objective on shares of Newell Brands in a research note on Sunday, October 7th. Bank of America dropped their price objective on shares of Newell Brands from $25.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, October 4th. Citigroup dropped their price objective on shares of Newell Brands from $29.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, August 24th. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $24.00 price objective on shares of Newell Brands in a research note on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $28.82.
In related news, CEO Michael B. Polk purchased 10,000 shares of the firm’s stock in a transaction on Monday, August 13th. The stock was acquired at an average price of $20.63 per share, with a total value of $206,300.00. Following the completion of the acquisition, the chief executive officer now owns 941,951 shares in the company, valued at approximately $19,432,449.13. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James Craigie purchased 11,500 shares of the firm’s stock in a transaction on Wednesday, August 8th. The stock was bought at an average cost of $21.33 per share, with a total value of $245,295.00. Following the acquisition, the director now owns 14,081 shares of the company’s stock, valued at approximately $300,347.73. The disclosure for this purchase can be found here. 0.97% of the stock is owned by company insiders.
NWL traded up $0.38 during trading on Friday, hitting $16.99. The stock had a trading volume of 476,873 shares, compared to its average volume of 8,797,345. The company has a market cap of $8.39 billion, a price-to-earnings ratio of 6.14, a price-to-earnings-growth ratio of 4.15 and a beta of 0.60. Newell Brands Inc has a twelve month low of $16.51 and a twelve month high of $41.31. The company has a quick ratio of 2.74, a current ratio of 3.17 and a debt-to-equity ratio of 0.66.
Newell Brands (NYSE:NWL) last announced its earnings results on Monday, August 6th. The company reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.04. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $3.83 billion. Newell Brands had a net margin of 16.39% and a return on equity of 9.58%. Newell Brands’s revenue was down 12.8% compared to the same quarter last year. During the same period last year, the firm earned $0.87 earnings per share. On average, sell-side analysts expect that Newell Brands Inc will post 0.88 EPS for the current year.
Newell Brands Company Profile
Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. The company's Live segment offers household products, including kitchen appliances, gourmet cookware, bakeware and cutlery, food storage and home storage products, fresh preserving products, and home fragrance products; and baby gear, infant care, and health products primarily under Aprica, Baby Jogger, Ball, Calphalon, Chesapeake Bay Candle, Crock-Pot, FoodSaver, Graco, Mr.
Further Reading: Insider Trading
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