PNC Financial Services Group Inc. trimmed its holdings in Newell Brands Inc (NYSE:NWL) by 24.7% during the 1st quarter, HoldingsChannel reports. The fund owned 154,082 shares of the company’s stock after selling 50,478 shares during the period. PNC Financial Services Group Inc.’s holdings in Newell Brands were worth $2,364,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in NWL. TIAA CREF Investment Management LLC lifted its position in Newell Brands by 7.9% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 1,596,926 shares of the company’s stock worth $32,418,000 after buying an additional 117,363 shares in the last quarter. Advisors Asset Management Inc. lifted its position in Newell Brands by 349.0% during the 4th quarter. Advisors Asset Management Inc. now owns 15,310 shares of the company’s stock worth $285,000 after buying an additional 11,900 shares in the last quarter. SG Americas Securities LLC lifted its position in Newell Brands by 37.8% during the 4th quarter. SG Americas Securities LLC now owns 98,484 shares of the company’s stock worth $1,831,000 after buying an additional 26,997 shares in the last quarter. First Mercantile Trust Co. acquired a new position in Newell Brands during the 4th quarter worth about $67,000. Finally, Dupont Capital Management Corp lifted its position in Newell Brands by 59.9% during the 4th quarter. Dupont Capital Management Corp now owns 8,704 shares of the company’s stock worth $162,000 after buying an additional 3,262 shares in the last quarter. Institutional investors and hedge funds own 98.42% of the company’s stock.
Several research analysts recently issued reports on NWL shares. Jefferies Financial Group reduced their price target on shares of Newell Brands to $15.00 and set a “hold” rating on the stock in a research report on Tuesday, February 19th. Wells Fargo & Co upped their price target on shares of Newell Brands from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, March 14th. Royal Bank of Canada reduced their price target on shares of Newell Brands from $24.00 to $20.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 19th. Zacks Investment Research downgraded shares of Newell Brands from a “buy” rating to a “sell” rating in a research report on Thursday, February 21st. Finally, Citigroup set a $24.00 price target on shares of Newell Brands and gave the stock a “buy” rating in a research report on Wednesday, February 20th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $20.80.
Shares of NYSE:NWL opened at $14.86 on Friday. The stock has a market cap of $6.16 billion, a price-to-earnings ratio of 5.40, a PEG ratio of 3.82 and a beta of 0.90. Newell Brands Inc has a 1-year low of $13.04 and a 1-year high of $28.00. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.98 and a quick ratio of 2.53.
Newell Brands (NYSE:NWL) last announced its quarterly earnings data on Friday, May 3rd. The company reported $0.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.08. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Newell Brands had a positive return on equity of 9.55% and a negative net margin of 46.92%. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.34 EPS. As a group, sell-side analysts expect that Newell Brands Inc will post 1.22 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.92 annualized dividend and a yield of 6.19%. Newell Brands’s dividend payout ratio is currently 33.45%.
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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.
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