Cornerstone Capital Management Holdings LLC. raised its holdings in Newell Brands Inc. (NYSE:NWL) by 7.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 88,617 shares of the company’s stock after purchasing an additional 5,855 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in Newell Brands were worth $4,751,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Eaton Vance Management boosted its holdings in Newell Brands by 2.1% in the 2nd quarter. Eaton Vance Management now owns 4,055,702 shares of the company’s stock valued at $217,467,000 after purchasing an additional 82,184 shares in the last quarter. King Luther Capital Management Corp boosted its holdings in Newell Brands by 1.0% in the 2nd quarter. King Luther Capital Management Corp now owns 3,203,006 shares of the company’s stock valued at $171,745,000 after purchasing an additional 30,576 shares in the last quarter. Bellwether Investment Group LLC boosted its holdings in Newell Brands by 2.0% in the 2nd quarter. Bellwether Investment Group LLC now owns 5,501 shares of the company’s stock valued at $295,000 after purchasing an additional 110 shares in the last quarter. PICTET BANK & TRUST Ltd purchased a new stake in Newell Brands in the 2nd quarter valued at approximately $2,102,000. Finally, FMR LLC boosted its holdings in Newell Brands by 0.5% in the 2nd quarter. FMR LLC now owns 11,462,512 shares of the company’s stock valued at $614,621,000 after purchasing an additional 52,553 shares in the last quarter. 92.36% of the stock is currently owned by institutional investors.
In other news, CEO Michael B. Polk purchased 5,000 shares of Newell Brands stock in a transaction that occurred on Wednesday, September 13th. The stock was acquired at an average price of $43.61 per share, for a total transaction of $218,050.00. Following the transaction, the chief executive officer now owns 609,296 shares in the company, valued at $26,571,398.56. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Scott S. Cowen purchased 2,000 shares of Newell Brands stock in a transaction that occurred on Monday, September 11th. The stock was purchased at an average price of $43.60 per share, with a total value of $87,200.00. Following the transaction, the director now owns 87,883 shares in the company, valued at approximately $3,831,698.80. The disclosure for this purchase can be found here. Insiders have purchased 7,100 shares of company stock valued at $309,715 over the last 90 days. 0.97% of the stock is currently owned by insiders.
A number of equities research analysts have weighed in on NWL shares. BMO Capital Markets set a $51.00 price objective on Newell Brands and gave the company a “hold” rating in a report on Saturday, August 5th. J P Morgan Chase & Co set a $61.00 price objective on Newell Brands and gave the company a “buy” rating in a report on Monday, August 7th. Forward View reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Newell Brands in a report on Monday, September 11th. BidaskClub downgraded shares of Newell Brands from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 24th. Finally, Zacks Investment Research upgraded shares of Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research report on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $56.31.
Newell Brands Inc. (NYSE:NWL) opened at 42.78 on Friday. Newell Brands Inc. has a 12 month low of $40.88 and a 12 month high of $55.08. The firm has a market capitalization of $20.97 billion, a P/E ratio of 17.08 and a beta of 1.15. The company’s 50 day moving average price is $44.24 and its 200 day moving average price is $49.29.
Newell Brands (NYSE:NWL) last issued its earnings results on Friday, August 4th. The company reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.01. The firm had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $3.96 billion. Newell Brands had a net margin of 7.87% and a return on equity of 11.47%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the firm posted $0.78 earnings per share. Analysts anticipate that Newell Brands Inc. will post $3.00 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend was Tuesday, August 29th. Newell Brands’s payout ratio is 36.95%.
Newell Brands announced that its Board of Directors has approved a stock buyback plan on Tuesday, September 26th that permits the company to repurchase $256.00 million in shares. This repurchase authorization permits the company to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.
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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