Arizona State Retirement System trimmed its holdings in Newell Brands Inc (NYSE:NWL) by 40.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 119,275 shares of the company’s stock after selling 79,603 shares during the period. Arizona State Retirement System’s holdings in Newell Brands were worth $3,076,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the company. Global X Management Co. LLC boosted its holdings in shares of 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 buying an additional 4,378 shares during the period. HL Financial Services LLC acquired a new position in shares of Newell Brands in the first quarter worth about $974,000. FTB Advisors Inc. boosted its holdings in shares of 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 buying an additional 3,276 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of Newell Brands by 15.4% in the first quarter. Daiwa Securities Group Inc. now owns 16,078 shares of the company’s stock worth $410,000 after buying an additional 2,149 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of Newell Brands by 2.1% in the first quarter. Rhumbline Advisers now owns 792,219 shares of the company’s stock worth $20,186,000 after buying an additional 16,632 shares during the period. Institutional investors and hedge funds own 97.65% of the company’s stock.
NYSE NWL opened at $21.86 on Friday. The company has a quick ratio of 2.74, a current ratio of 3.17 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $10.55 billion, a price-to-earnings ratio of 7.95, a price-to-earnings-growth ratio of 4.14 and a beta of 0.73. Newell Brands Inc has a 12-month low of $20.21 and a 12-month high of $49.24.
Newell Brands (NYSE:NWL) last posted its 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. The firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Newell Brands had a net margin of 16.39% and a return on equity of 9.58%. The company’s revenue was down 12.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.87 earnings per share. analysts anticipate that Newell Brands Inc will post 0.88 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Friday, August 31st will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend is Thursday, August 30th. Newell Brands’s dividend payout ratio (DPR) is presently 33.45%.
Newell Brands announced that its board has initiated a share buyback plan on Monday, June 11th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the company to purchase up to 19.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
NWL has been the subject of several research reports. Zacks Investment Research cut shares of Newell Brands from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th. Barclays restated a “hold” rating and set a $29.00 price target on shares of Newell Brands in a report on Sunday, May 13th. Jefferies Financial Group decreased their price target on shares of Newell Brands from $29.00 to $23.00 and set a “hold” rating for the company in a report on Wednesday, August 8th. Wells Fargo & Co restated a “buy” rating on shares of Newell Brands in a report on Monday, June 11th. Finally, Royal Bank of Canada restated a “hold” rating and set a $24.00 price target on shares of Newell Brands in a report on Wednesday, August 8th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Newell Brands currently has an average rating of “Hold” and an average price target of $29.24.
In other Newell Brands news, Director James Craigie bought 11,500 shares of Newell Brands stock in a transaction on Wednesday, August 8th. The stock was purchased at an average cost of $21.33 per share, for a total transaction of $245,295.00. Following the completion of the purchase, the director now directly owns 14,081 shares of the company’s stock, valued at $300,347.73. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael B. Polk bought 10,000 shares of Newell Brands stock in a transaction on Monday, August 13th. The stock was acquired at an average price of $20.63 per share, with a total value of $206,300.00. Following the completion of the purchase, the chief executive officer now directly owns 941,951 shares of the company’s stock, valued at $19,432,449.13. The disclosure for this purchase can be found here. 0.97% of the stock is owned by insiders.
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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