NEXT Financial Group Inc bought a new position in Newell Brands Inc (NYSE:NWL) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 11,555 shares of the company’s stock, valued at approximately $294,000.
Other hedge funds have also bought and sold shares of the company. Fairfield Bush & CO. bought a new stake in Newell Brands in the first quarter worth approximately $148,000. Synovus Financial Corp bought a new stake in Newell Brands in the first quarter worth approximately $150,000. Tiverton Asset Management LLC bought a new stake in Newell Brands in the first quarter worth approximately $194,000. Global X Management Co. LLC grew its position in Newell Brands by 126.3% in the first quarter. Global X Management Co. LLC now owns 7,844 shares of the company’s stock worth $200,000 after acquiring an additional 4,378 shares in the last quarter. Finally, FTB Advisors Inc. grew its position in Newell Brands by 66.9% in the first quarter. FTB Advisors Inc. now owns 8,171 shares of the company’s stock worth $208,000 after acquiring an additional 3,276 shares in the last quarter. 96.68% of the stock is owned by institutional investors.
In related news, Director Michael Todman purchased 4,000 shares of Newell Brands stock in a transaction on Monday, May 21st. The stock was purchased at an average cost of $26.53 per share, with a total value of $106,120.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James Craigie purchased 1,000 shares of Newell Brands stock in a transaction on Friday, May 18th. The stock was bought at an average cost of $26.67 per share, with a total value of $26,670.00. The disclosure for this purchase can be found here. 0.97% of the stock is owned by corporate insiders.
NWL has been the subject of several recent analyst reports. Vetr raised shares of Newell Brands from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a report on Thursday, March 8th. Citigroup reaffirmed a “buy” rating on shares of Newell Brands in a report on Monday, March 5th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Newell Brands in a report on Monday, June 11th. Zacks Investment Research raised shares of Newell Brands from a “sell” rating to a “hold” rating in a report on Tuesday, May 8th. Finally, Barclays set a $28.00 price objective on shares of Newell Brands and gave the stock a “hold” rating in a report on Thursday, March 15th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Newell Brands currently has an average rating of “Hold” and a consensus price target of $31.44.
Shares of Newell Brands opened at $25.78 on Friday, Marketbeat Ratings reports. The company has a quick ratio of 1.20, a current ratio of 1.72 and a debt-to-equity ratio of 0.68. Newell Brands Inc has a fifty-two week low of $22.60 and a fifty-two week high of $54.19. The firm has a market capitalization of $12.77 billion, a price-to-earnings ratio of 9.37, a P/E/G ratio of 1.62 and a beta of 0.75.
Newell Brands (NYSE:NWL) last issued its quarterly earnings results on Friday, May 4th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08. Newell Brands had a net margin of 14.93% and a return on equity of 10.05%. The firm had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the prior year, the firm earned $0.34 EPS. The business’s revenue was down 7.6% on a year-over-year basis. equities research analysts expect that Newell Brands Inc will post 2.66 earnings per share for the current fiscal year.
Newell Brands declared that its Board of Directors has initiated a share repurchase plan on Monday, June 11th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the company to reacquire up to 19.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Thursday, May 31st were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend was Wednesday, May 30th. Newell Brands’s dividend payout ratio (DPR) is presently 33.45%.
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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