Gabelli Funds LLC increased its holdings in Newell Brands Inc (NYSE:NWL) by 42.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 183,352 shares of the company’s stock after buying an additional 54,500 shares during the period. Gabelli Funds LLC’s holdings in Newell Brands were worth $4,729,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in NWL. Northwest Wealth Management LLC raised its position in shares of Newell Brands by 5,180.7% in the second quarter. Northwest Wealth Management LLC now owns 4,383 shares of the company’s stock valued at $113,000 after buying an additional 4,300 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new stake in shares of Newell Brands in the second quarter valued at approximately $146,000. Fairfield Bush & CO. acquired a new stake in shares of Newell Brands in the first quarter valued at approximately $148,000. Synovus Financial Corp acquired a new stake in shares of Newell Brands in the first quarter valued at approximately $150,000. Finally, Tiverton Asset Management LLC acquired a new stake in shares of Newell Brands in the first quarter valued at approximately $194,000. Institutional investors own 97.65% of the company’s stock.
Shares of Newell Brands stock opened at $21.27 on Friday. 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 twelve month low of $20.21 and a twelve month high of $47.38. The firm has a market capitalization of $10.33 billion, a P/E ratio of 7.73, a price-to-earnings-growth ratio of 5.08 and a beta of 0.62.
Newell Brands (NYSE:NWL) last issued its quarterly earnings data on Monday, August 6th. The company reported $0.82 earnings per share for the quarter, topping the 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 company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $3.83 billion. During the same quarter in the previous year, the firm posted $0.87 earnings per share. Newell Brands’s revenue for the quarter was down 12.8% on a year-over-year basis. sell-side analysts predict that Newell Brands Inc will post 0.89 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 31st will be paid 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 4.33%. Newell Brands’s dividend payout ratio is 33.45%.
Newell Brands announced that its Board of Directors has approved a share buyback plan on Monday, June 11th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the company to buy up to 19.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.
Several brokerages have commented on NWL. Bank of America boosted their price objective on shares of Newell Brands from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, July 16th. Wells Fargo & Co restated a “buy” rating on shares of Newell Brands in a research report on Monday, June 11th. Citigroup lowered 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 report on Wednesday, August 8th. Deutsche Bank lowered their price objective on shares of Newell Brands to $23.00 and set a “hold” rating for the company in a research report on Tuesday, August 7th. Finally, BMO Capital Markets lowered 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 report on Wednesday, August 8th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Newell Brands presently has an average rating of “Hold” and a consensus price target of $29.24.
In other news, Director James Craigie purchased 11,500 shares of the business’s stock in a transaction on Wednesday, August 8th. The shares were acquired at an average price of $21.33 per share, with a total value of $245,295.00. Following the completion of the transaction, the director now owns 14,081 shares of the company’s stock, valued at approximately $300,347.73. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael B. Polk purchased 10,000 shares of the business’s stock in a transaction on Monday, August 13th. The shares were purchased at an average cost of $20.63 per share, for a total transaction of $206,300.00. Following the transaction, the chief executive officer now directly owns 941,951 shares of the company’s stock, valued at approximately $19,432,449.13. The disclosure for this purchase can be found here. 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.
See Also: Dividend
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