BlackRock Inc. lifted its position in shares of Newell Brands Inc (NYSE:NWL) by 8.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 48,793,194 shares of the company’s stock after purchasing an additional 3,743,507 shares during the period. BlackRock Inc. owned 0.12% of Newell Brands worth $752,391,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the company. Commonwealth Bank of Australia boosted its stake in shares of Newell Brands by 13.6% during the 2nd quarter. Commonwealth Bank of Australia now owns 5,346 shares of the company’s stock worth $81,000 after acquiring an additional 640 shares in the last quarter. Kings Point Capital Management boosted its stake in shares of Newell Brands by 15.2% during the 2nd quarter. Kings Point Capital Management now owns 6,695 shares of the company’s stock worth $103,000 after acquiring an additional 884 shares in the last quarter. CSat Investment Advisory L.P. raised its position in shares of Newell Brands by 31.6% during the 2nd quarter. CSat Investment Advisory L.P. now owns 4,094 shares of the company’s stock worth $63,000 after purchasing an additional 984 shares during the last quarter. MML Investors Services LLC raised its position in shares of Newell Brands by 5.8% during the 2nd quarter. MML Investors Services LLC now owns 18,598 shares of the company’s stock worth $287,000 after purchasing an additional 1,017 shares during the last quarter. Finally, Truvestments Capital LLC raised its position in shares of Newell Brands by 21.4% during the 2nd quarter. Truvestments Capital LLC now owns 5,912 shares of the company’s stock worth $91,000 after purchasing an additional 1,044 shares during the last quarter. 98.42% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Michael Todman purchased 5,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was acquired at an average price of $15.76 per share, with a total value of $78,800.00. Following the purchase, the director now directly owns 72,184 shares in the company, valued at approximately $1,137,619.84. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.97% of the company’s stock.
Newell Brands stock opened at $20.37 on Friday. The firm has a 50 day simple moving average of $19.07 and a 200-day simple moving average of $16.30. Newell Brands Inc has a 1-year low of $13.04 and a 1-year high of $24.57. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.98 and a quick ratio of 2.53. The stock has a market cap of $8.46 billion, a price-to-earnings ratio of 7.41, a price-to-earnings-growth ratio of 3.82 and a beta of 0.90.
Newell Brands (NYSE:NWL) last posted its quarterly earnings results on Friday, November 1st. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.17. Newell Brands had a negative net margin of 46.92% and a positive return on equity of 9.55%. The business had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter in the prior year, the company posted $0.81 EPS. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. Equities analysts expect that Newell Brands Inc will post 1.22 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 4.52%. Newell Brands’s dividend payout ratio (DPR) is 33.45%.
Several research analysts recently weighed in on NWL shares. Barclays restated a “hold” rating on shares of Newell Brands in a research report on Wednesday, August 7th. Deutsche Bank reduced their price target on shares of Newell Brands from $18.00 to $16.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Morgan Stanley upped their price target on shares of Newell Brands from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. Wells Fargo & Co restated a “buy” rating on shares of Newell Brands in a research report on Wednesday, July 31st. Finally, Zacks Investment Research upgraded shares of Newell Brands from a “hold” rating to a “strong-buy” rating and set a $21.00 price target for the company in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $19.78.
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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