Segall Bryant & Hamill LLC lifted its holdings in Newell Brands Inc (NYSE:NWL) by 501.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 368,199 shares of the company’s stock after purchasing an additional 306,936 shares during the period. Segall Bryant & Hamill LLC’s holdings in Newell Brands were worth $9,496,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Northwest Wealth Management LLC raised its stake in shares of Newell Brands by 5,180.7% during the 2nd 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 in the last quarter. Piedmont Investment Advisors LLC bought a new position in shares of Newell Brands during the 2nd quarter worth approximately $146,000. Fairfield Bush & CO. bought a new position in shares of Newell Brands during the 1st quarter worth approximately $148,000. Synovus Financial Corp bought a new position in shares of Newell Brands during the 1st quarter worth approximately $150,000. Finally, Tiverton Asset Management LLC bought a new position in shares of Newell Brands during the 1st quarter worth approximately $194,000. 96.83% of the stock is owned by hedge funds and other institutional investors.
Several research firms recently commented on NWL. Bank of America reduced their price objective on shares of Newell Brands from $30.00 to $25.00 and set a “neutral” rating for the company in a research note on Tuesday, August 7th. BMO Capital Markets reduced their price objective on shares of Newell Brands from $27.00 to $25.00 and set a “hold” rating for the company in a research note on Wednesday, August 8th. Deutsche Bank reduced their price objective on shares of Newell Brands to $23.00 and set a “hold” rating for the company in a research note on Tuesday, August 7th. Citigroup reduced their price objective on shares of Newell Brands from $36.00 to $29.00 and set a “buy” rating for the company in a research note on Wednesday, August 8th. Finally, Zacks Investment Research upgraded shares of Newell Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, May 8th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $29.29.
In related news, CEO Michael B. Polk purchased 10,000 shares of the business’s stock in a transaction on Monday, August 13th. The shares were acquired at an average price of $20.63 per share, for a total transaction of $206,300.00. Following the purchase, the chief executive officer now owns 941,951 shares of the company’s stock, valued at approximately $19,432,449.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Craigie acquired 11,500 shares of the business’s stock in a transaction dated Wednesday, August 8th. The stock was acquired at an average price of $21.33 per share, for a total transaction of $245,295.00. Following the purchase, the director now directly owns 14,081 shares of the company’s stock, valued at $300,347.73. 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 $21.50 on Monday. The company has a current ratio of 3.17, a quick ratio of 2.74 and a debt-to-equity ratio of 0.66. Newell Brands Inc has a 12-month low of $20.21 and a 12-month high of $50.20. The company has a market cap of $9.84 billion, a price-to-earnings ratio of 7.82, a P/E/G ratio of 3.86 and a beta of 0.73.
Newell Brands (NYSE:NWL) last issued its quarterly earnings results on Monday, August 6th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.04. Newell Brands had a net margin of 16.39% and a return on equity of 9.58%. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the prior year, the business posted $0.87 EPS. Newell Brands’s revenue for the quarter was down 12.8% compared to the same quarter last year. research analysts forecast that Newell Brands Inc will post 0.88 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Friday, August 31st will be paid a dividend of $0.23 per share. The ex-dividend date is Thursday, August 30th. This represents a $0.92 dividend on an annualized basis and a yield of 4.28%. Newell Brands’s payout ratio is 33.45%.
Newell Brands announced that its board has authorized a share buyback program on Monday, June 11th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 19.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
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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