Princeton Portfolio Strategies Group LLC raised its stake in Newell Brands Inc. (NYSE:NWL) by 14.7% during the first quarter, Holdings Channel reports. The institutional investor owned 136,842 shares of the company’s stock after buying an additional 17,558 shares during the period. Newell Brands comprises about 1.9% of Princeton Portfolio Strategies Group LLC’s portfolio, making the stock its 13th largest position. Princeton Portfolio Strategies Group LLC’s holdings in Newell Brands were worth $6,455,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. Russell Investments Group Ltd. acquired a new position in Newell Brands during the fourth quarter valued at $10,027,000. Baird Financial Group Inc. acquired a new position in Newell Brands during the fourth quarter valued at $1,017,000. Federated Investors Inc. PA boosted its position in Newell Brands by 673.1% in the fourth quarter. Federated Investors Inc. PA now owns 317,473 shares of the company’s stock valued at $14,175,000 after buying an additional 276,409 shares in the last quarter. Brown Advisory Inc. boosted its position in Newell Brands by 35.8% in the fourth quarter. Brown Advisory Inc. now owns 54,350 shares of the company’s stock valued at $2,426,000 after buying an additional 14,318 shares in the last quarter. Finally, Rafferty Asset Management LLC acquired a new position in Newell Brands during the fourth quarter valued at $717,000. 95.67% of the stock is owned by institutional investors and hedge funds.
Newell Brands Inc. (NWL) traded down 1.58% during midday trading on Tuesday, reaching $53.68. The company had a trading volume of 1,302,106 shares. The stock’s 50 day moving average is $52.13 and its 200 day moving average is $48.33. The company has a market capitalization of $25.93 billion, a PE ratio of 22.78 and a beta of 1.13. Newell Brands Inc. has a one year low of $43.43 and a one year high of $55.45.
Newell Brands (NYSE:NWL) last announced its quarterly earnings data on Monday, May 8th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. The business had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.23 billion. Newell Brands had a net margin of 7.40% and a return on equity of 11.07%. The firm’s quarterly revenue was up 148.4% compared to the same quarter last year. During the same period last year, the firm posted $0.40 earnings per share. Equities research analysts forecast that Newell Brands Inc. will post $3.11 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Wednesday, May 31st were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.69%. This is a boost from Newell Brands’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, May 26th. Newell Brands’s dividend payout ratio (DPR) is 39.49%.
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Several equities analysts have commented on the company. Jefferies Group LLC reaffirmed a “buy” rating and issued a $61.00 price target on shares of Newell Brands in a report on Monday, February 27th. J P Morgan Chase & Co assumed coverage on Newell Brands in a report on Tuesday, March 21st. They issued an “overweight” rating and a $63.00 price target for the company. Zacks Investment Research raised Newell Brands from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Tuesday, April 11th. B. Riley reaffirmed a “buy” rating and issued a $71.00 price target on shares of Newell Brands in a report on Friday, April 14th. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Newell Brands in a report on Saturday, April 22nd. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Newell Brands currently has an average rating of “Buy” and a consensus target price of $57.93.
In related news, Director Thomas E. Clarke sold 5,353 shares of Newell Brands stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $52.49, for a total value of $280,978.97. Following the transaction, the director now directly owns 66,286 shares of the company’s stock, valued at $3,479,352.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.97% of the company’s stock.
Newell Brands Company Profile
Newell Brands Inc is a marketer of consumer and commercial products. The Company’s segments include Writing, Home Solutions, Commercial Products, Baby & Parenting, Branded Consumables, Consumer Solutions, Outdoor Solutions and Process Solutions. Its products are marketed under a portfolio of brands, including Paper Mate, Sharpie, Dymo, Expo, Parker, Elmer’s, Coleman, Jostens, Marmot, Rawlings, Mr.
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