Commerce Bank decreased its position in shares of Newell Brands Inc (NYSE:NWL) by 32.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,135 shares of the company’s stock after selling 25,899 shares during the period. Commerce Bank’s holdings in Newell Brands were worth $1,079,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. Morgan Stanley grew its position in Newell Brands by 6.0% in the second quarter. Morgan Stanley now owns 3,354,254 shares of the company’s stock worth $86,507,000 after buying an additional 190,217 shares during the last quarter. Manning & Napier Group LLC grew its position in Newell Brands by 46.0% in the third quarter. Manning & Napier Group LLC now owns 155,902 shares of the company’s stock worth $3,164,000 after buying an additional 49,099 shares during the last quarter. Bank of Montreal Can grew its position in Newell Brands by 14.7% in the third quarter. Bank of Montreal Can now owns 676,711 shares of the company’s stock worth $13,737,000 after buying an additional 86,867 shares during the last quarter. 22NW LP acquired a new position in Newell Brands in the second quarter worth approximately $4,011,000. Finally, Oppenheimer Asset Management Inc. grew its position in Newell Brands by 7.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 400,370 shares of the company’s stock worth $10,325,000 after buying an additional 29,285 shares during the last quarter. 97.83% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Michael B. Polk acquired 10,000 shares of the stock in a transaction on Monday, August 13th. The shares were purchased at an average cost of $20.63 per share, for a total transaction of $206,300.00. Following the transaction, the chief executive officer now owns 941,951 shares in the company, valued at approximately $19,432,449.13. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.97% of the company’s stock.
NYSE NWL opened at $19.90 on Friday. Newell Brands Inc has a twelve month low of $15.11 and a twelve month high of $32.58. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.44 and a current ratio of 2.87. The company has a market cap of $9.53 billion, a price-to-earnings ratio of 7.24, a PEG ratio of 3.40 and a beta of 0.82.
Newell Brands (NYSE:NWL) last posted its quarterly earnings data on Friday, November 2nd. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.55. Newell Brands had a negative net margin of 46.92% and a positive return on equity of 9.51%. The firm had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.34 billion. During the same period in the previous year, the company posted $0.86 EPS. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. As a group, equities analysts expect that Newell Brands Inc will post 1.22 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 4.62%. Newell Brands’s payout ratio is 33.45%.
Several research firms have issued reports on NWL. TheStreet lowered shares of Newell Brands from a “c” rating to a “d” rating in a research report on Friday, November 2nd. Jefferies Financial Group decreased their price target on shares of Newell Brands to $20.00 and set a “hold” rating on the stock in a research report on Monday, November 5th. Wells Fargo & Co lifted their price target on shares of Newell Brands from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Monday, November 5th. Morgan Stanley set a $23.00 price target on shares of Newell Brands and gave the stock a “hold” rating in a research report on Tuesday, November 6th. Finally, Deutsche Bank lifted their price target on shares of Newell Brands from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Monday, November 5th. Thirteen equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $26.60.
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About Newell Brands
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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