BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Newell Brands Inc (NYSE:NWL) by 20.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 476,569 shares of the company’s stock after buying an additional 79,600 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Newell Brands were worth $14,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also added to or reduced their stakes in NWL. Franklin Resources Inc. increased its stake in shares of Newell Brands by 178.9% in the fourth quarter. Franklin Resources Inc. now owns 7,716,072 shares of the company’s stock worth $238,427,000 after acquiring an additional 4,949,143 shares during the period. OppenheimerFunds Inc. grew its position in Newell Brands by 211.5% during the fourth quarter. OppenheimerFunds Inc. now owns 5,210,352 shares of the company’s stock valued at $161,001,000 after buying an additional 3,537,489 shares during the period. Westchester Capital Management LLC acquired a new stake in Newell Brands during the third quarter valued at $41,012,000. Guggenheim Capital LLC grew its position in Newell Brands by 122.5% during the fourth quarter. Guggenheim Capital LLC now owns 1,523,735 shares of the company’s stock valued at $47,083,000 after buying an additional 838,982 shares during the period. Finally, Coronation Fund Managers Ltd. acquired a new stake in Newell Brands during the fourth quarter valued at $22,639,000. Hedge funds and other institutional investors own 92.73% of the company’s stock.
Newell Brands Inc (NWL) opened at $25.35 on Monday. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.70. The stock has a market cap of $12,299.82, a price-to-earnings ratio of 4.50, a price-to-earnings-growth ratio of 1.37 and a beta of 0.88. Newell Brands Inc has a twelve month low of $23.85 and a twelve month high of $55.08.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.63%. The ex-dividend date was Tuesday, February 27th. Newell Brands’s payout ratio is 16.34%.
Several analysts recently commented on NWL shares. ValuEngine lowered shares of Newell Brands from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Barclays restated a “buy” rating and set a $35.00 price target on shares of Newell Brands in a research report on Wednesday, December 6th. Morgan Stanley lowered shares of Newell Brands from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $38.00 to $25.00 in a research report on Thursday, January 25th. Deutsche Bank started coverage on shares of Newell Brands in a research report on Wednesday, December 13th. They set a “hold” rating and a $32.00 price target on the stock. Finally, Wells Fargo restated a “hold” rating and set a $25.00 price target on shares of Newell Brands in a research report on Thursday, February 15th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Newell Brands has an average rating of “Hold” and an average price target of $34.72.
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Newell Brands 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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