22Nw LP acquired a new position in shares of Newell Brands Inc (NYSE:NWL) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 155,527 shares of the company’s stock, valued at approximately $4,011,000. Newell Brands accounts for approximately 2.1% of 22Nw LP’s holdings, making the stock its 18th biggest holding.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Wetherby Asset Management Inc. boosted its stake in Newell Brands by 20.3% during the second quarter. Wetherby Asset Management Inc. now owns 11,486 shares of the company’s stock worth $296,000 after acquiring an additional 1,941 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in Newell Brands by 2.7% during the first quarter. Mn Services Vermogensbeheer B.V. now owns 77,117 shares of the company’s stock worth $1,965,000 after acquiring an additional 2,000 shares in the last quarter. Whittier Trust Co. boosted its stake in Newell Brands by 25.3% during the first quarter. Whittier Trust Co. now owns 10,042 shares of the company’s stock worth $256,000 after acquiring an additional 2,030 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Newell Brands by 15.4% during the first quarter. Daiwa Securities Group Inc. now owns 16,078 shares of the company’s stock worth $410,000 after acquiring an additional 2,149 shares in the last quarter. Finally, Berson & Corrado Investment Advisors LLC boosted its stake in Newell Brands by 16.9% during the second quarter. Berson & Corrado Investment Advisors LLC now owns 15,565 shares of the company’s stock worth $401,000 after acquiring an additional 2,246 shares in the last quarter. Institutional investors own 97.65% of the company’s stock.
NWL has been the topic of several research analyst reports. Citigroup cut their target price on shares of Newell Brands from $36.00 to $29.00 and set a “buy” rating on the stock in a research note on Wednesday, August 8th. Bank of America increased their target price on shares of Newell Brands from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, July 16th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Newell Brands in a research note on Monday, June 11th. ValuEngine lowered shares of Newell Brands from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Finally, Jefferies Financial Group dropped their price objective on shares of Newell Brands from $29.00 to $23.00 and set a “hold” rating on the stock in a research note on Wednesday, August 8th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $29.24.
Newell Brands stock opened at $22.50 on Thursday. Newell Brands Inc has a 1-year low of $20.21 and a 1-year high of $49.24. The firm has a market capitalization of $10.24 billion, a price-to-earnings ratio of 8.18, a price-to-earnings-growth ratio of 4.02 and a beta of 0.73. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.74 and a current ratio of 3.17.
Newell Brands (NYSE:NWL) last released its quarterly earnings data on Monday, August 6th. The company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.04. Newell Brands had a net margin of 16.39% and a return on equity of 9.58%. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same period last year, the firm earned $0.87 earnings per share. The business’s quarterly revenue was down 12.8% compared to the same quarter last year. equities research analysts predict that Newell Brands Inc will post 0.88 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 31st will be issued a $0.23 dividend. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.92 annualized dividend and a dividend yield of 4.09%. Newell Brands’s dividend payout ratio is currently 33.45%.
Newell Brands announced that its Board of Directors has approved a stock buyback plan on Monday, June 11th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the company to buy up to 19.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
In other news, CEO Michael B. Polk bought 10,000 shares of the stock in a transaction dated Monday, August 13th. The stock was bought at an average price of $20.63 per share, for a total transaction of $206,300.00. Following the completion of the acquisition, the chief executive officer now directly owns 941,951 shares in the company, valued at approximately $19,432,449.13. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Craigie bought 11,500 shares of the stock in a transaction dated Wednesday, August 8th. The stock was purchased at an average price of $21.33 per share, with a total value of $245,295.00. Following the acquisition, the director now 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.
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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