Cambridge Investment Research Advisors Inc. lowered its position in shares of Newell Brands Inc (NYSE:NWL) by 3.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 105,639 shares of the company’s stock after selling 3,380 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Newell Brands were worth $2,724,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Global X Management Co. LLC raised its position in Newell Brands by 126.3% during the 1st quarter. Global X Management Co. LLC now owns 7,844 shares of the company’s stock valued at $200,000 after purchasing an additional 4,378 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Newell Brands by 15.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 16,078 shares of the company’s stock valued at $410,000 after purchasing an additional 2,149 shares in the last quarter. Rhumbline Advisers raised its position in Newell Brands by 2.1% during the 1st quarter. Rhumbline Advisers now owns 792,219 shares of the company’s stock valued at $20,186,000 after purchasing an additional 16,632 shares in the last quarter. Comerica Bank raised its position in Newell Brands by 24.7% during the 1st quarter. Comerica Bank now owns 141,599 shares of the company’s stock valued at $3,778,000 after purchasing an additional 28,003 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in Newell Brands by 2.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,667,579 shares of the company’s stock valued at $42,490,000 after purchasing an additional 47,516 shares in the last quarter. Hedge funds and other institutional investors own 97.65% of the company’s stock.
In related news, CEO Michael B. Polk purchased 10,000 shares of Newell Brands stock in a transaction dated Monday, August 13th. The stock was purchased at an average cost of $20.63 per share, with a total value of $206,300.00. Following the transaction, the chief executive officer now owns 941,951 shares in the company, valued at approximately $19,432,449.13. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James Craigie bought 11,500 shares of Newell Brands stock in a transaction that occurred on Wednesday, August 8th. The shares were acquired at an average cost of $21.33 per share, for a total transaction of $245,295.00. Following the completion of the transaction, the director now directly owns 14,081 shares in the company, valued at $300,347.73. The disclosure for this purchase can be found here. Insiders own 0.97% of the company’s stock.
A number of brokerages have weighed in on NWL. Bank of America lifted their target price on Newell Brands from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, July 16th. Zacks Investment Research lowered Newell Brands from a “hold” rating to a “sell” rating in a research report on Tuesday, July 10th. Barclays reaffirmed a “hold” rating and set a $29.00 target price on shares of Newell Brands in a research report on Sunday, May 13th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Newell Brands in a research report on Monday, June 11th. Finally, Deutsche Bank decreased their target price on Newell Brands to $23.00 and set a “hold” rating for the company in a research report on Tuesday, August 7th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $29.24.
NWL opened at $21.37 on Friday. The firm has a market capitalization of $10.33 billion, a PE ratio of 7.75, a P/E/G ratio of 5.08 and a beta of 0.62. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.17 and a quick ratio of 2.74. Newell Brands Inc has a 12 month low of $20.21 and a 12 month high of $44.98.
Newell Brands (NYSE:NWL) last released its quarterly earnings results on Monday, August 6th. The company reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.04. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $3.83 billion. Newell Brands had a return on equity of 9.58% and a net margin of 16.39%. The business’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.87 EPS. research analysts expect that Newell Brands Inc will post 0.89 earnings per share for the current year.
Newell Brands declared that its Board of Directors has initiated a stock buyback plan on Monday, June 11th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the company to purchase up to 19.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 31st will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 4.31%. The ex-dividend date of this dividend is Thursday, August 30th. Newell Brands’s payout ratio is 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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