Clearline Capital LP acquired a new position in Newell Brands Inc (NYSE:NWL) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 75,202 shares of the company’s stock, valued at approximately $2,324,000. Newell Brands accounts for about 1.2% of Clearline Capital LP’s portfolio, making the stock its 22nd largest holding.
Other hedge funds also recently bought and sold shares of the company. State of Alaska Department of Revenue raised its position in Newell Brands by 188.2% in the 4th quarter. State of Alaska Department of Revenue now owns 57,414 shares of the company’s stock worth $1,773,000 after purchasing an additional 37,490 shares during the last quarter. Skylands Capital LLC raised its position in shares of Newell Brands by 165.3% during the 4th quarter. Skylands Capital LLC now owns 11,395 shares of the company’s stock valued at $352,000 after acquiring an additional 7,100 shares during the last quarter. CIBC World Markets Inc. raised its position in shares of Newell Brands by 207.5% during the 4th quarter. CIBC World Markets Inc. now owns 52,463 shares of the company’s stock valued at $1,621,000 after acquiring an additional 35,400 shares during the last quarter. Boston Partners bought a new stake in shares of Newell Brands during the 4th quarter valued at $3,355,000. Finally, Strs Ohio raised its position in shares of Newell Brands by 1,297.8% during the 4th quarter. Strs Ohio now owns 216,991 shares of the company’s stock valued at $6,705,000 after acquiring an additional 201,467 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.
Several analysts have commented on the stock. Zacks Investment Research cut shares of Newell Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Barclays reiterated a “buy” rating and set a $35.00 target price on shares of Newell Brands in a research report on Wednesday, December 6th. Deutsche Bank assumed coverage on shares of Newell Brands in a research report on Wednesday, December 13th. They set a “hold” rating and a $32.00 target price for the company. Bank of America cut shares of Newell Brands from a “buy” rating to a “neutral” rating in a research report on Thursday, January 25th. Finally, Jefferies Group reiterated a “hold” rating and set a $32.00 target price on shares of Newell Brands in a research report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $34.50.
Newell Brands (NYSE:NWL) last announced its quarterly earnings results on Friday, February 16th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.01. Newell Brands had a net margin of 18.65% and a return on equity of 10.47%. The company had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the previous year, the business earned $0.80 EPS. The firm’s revenue was down 9.5% on a year-over-year basis. sell-side analysts expect that Newell Brands Inc will post 2.7 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 28th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Tuesday, February 27th. Newell Brands’s payout ratio is presently 31.08%.
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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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