Seven Eight Capital LP decreased its holdings in Newell Brands Inc (NYSE:NWL) by 33.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 232,661 shares of the company’s stock after selling 115,557 shares during the period. Seven Eight Capital LP’s holdings in Newell Brands were worth $4,723,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Northwest Wealth Management LLC boosted its stake in shares of Newell Brands by 5,180.7% in the second quarter. Northwest Wealth Management LLC now owns 4,383 shares of the company’s stock worth $113,000 after acquiring an additional 4,300 shares during the period. Piedmont Investment Advisors LLC bought a new position in shares of Newell Brands in the second quarter worth about $146,000. Qube Research & Technologies Ltd bought a new position in shares of Newell Brands in the second quarter worth about $149,000. BlueMountain Capital Management LLC bought a new position in shares of Newell Brands in the second quarter worth about $151,000. Finally, WINTON GROUP Ltd bought a new position in shares of Newell Brands in the first quarter worth about $211,000. 97.83% of the stock is owned by hedge funds and other institutional investors.
In related news, Director James Craigie acquired 11,500 shares of the firm’s stock in a transaction on Wednesday, August 8th. The shares were acquired at an average cost of $21.33 per share, for a total transaction of $245,295.00. Following the completion of the transaction, the director now directly owns 14,081 shares in the company, valued at approximately $300,347.73. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael B. Polk acquired 10,000 shares of the firm’s stock in a transaction on Monday, August 13th. The shares were bought at an average price of $20.63 per share, for a total transaction of $206,300.00. Following the completion of the transaction, the chief executive officer now owns 941,951 shares of the company’s stock, valued at $19,432,449.13. The disclosure for this purchase can be found here. Corporate insiders own 0.97% of the company’s stock.
Shares of Newell Brands stock opened at $16.95 on Friday. Newell Brands Inc has a 12 month low of $16.51 and a 12 month high of $41.31. The company has a market cap of $7.85 billion, a P/E ratio of 6.15, a PEG ratio of 3.89 and a beta of 0.60. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.17 and a quick ratio of 2.74.
Newell Brands (NYSE:NWL) last announced its quarterly earnings results on Monday, August 6th. The company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.04. Newell Brands had a return on equity of 9.58% and a net margin of 16.39%. The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same period in the prior year, the company earned $0.87 earnings per share. The firm’s revenue was down 12.8% on a year-over-year basis. Research analysts predict that Newell Brands Inc will post 0.88 earnings per share for the current year.
A number of brokerages recently commented on NWL. Citigroup dropped their price target on Newell Brands from $29.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, August 24th. Deutsche Bank dropped their price target on Newell Brands to $23.00 and set a “hold” rating for the company in a research note on Tuesday, August 7th. Zacks Investment Research lowered Newell Brands from a “hold” rating to a “sell” rating in a research note on Tuesday, July 10th. Barclays reissued a “hold” rating and set a $24.00 price target on shares of Newell Brands in a research note on Sunday, October 7th. Finally, Bank of America dropped their price target on Newell Brands from $30.00 to $25.00 and set a “neutral” rating for the company in a research note on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Newell Brands has a consensus rating of “Hold” and a consensus target price of $28.82.
Newell Brands 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.
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