Raymond James Financial Services Advisors Inc. trimmed its holdings in Newell Brands Inc. (NYSE:NWL) by 21.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 428,902 shares of the company’s stock after selling 114,394 shares during the quarter. Raymond James Financial Services Advisors Inc. owned approximately 0.09% of Newell Brands worth $18,302,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp grew its position in Newell Brands by 112.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,850,876 shares of the company’s stock valued at $742,686,000 after buying an additional 7,331,309 shares during the last quarter. Jennison Associates LLC purchased a new position in Newell Brands in the 2nd quarter valued at $124,839,000. Ameriprise Financial Inc. grew its position in Newell Brands by 28.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,796,439 shares of the company’s stock valued at $417,953,000 after buying an additional 1,709,917 shares during the last quarter. FIL Ltd purchased a new position in Newell Brands in the 2nd quarter valued at $76,301,000. Finally, Vanguard Group Inc. grew its position in Newell Brands by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 47,877,545 shares of the company’s stock valued at $2,567,193,000 after buying an additional 1,305,820 shares during the last quarter. 91.42% of the stock is currently owned by institutional investors and hedge funds.
Newell Brands Inc. (NWL) opened at $28.56 on Friday. The stock has a market capitalization of $13,810.00, a price-to-earnings ratio of 9.77, a PEG ratio of 1.13 and a beta of 1.20. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.86 and a current ratio of 1.46. Newell Brands Inc. has a one year low of $27.45 and a one year high of $55.08.
Newell Brands (NYSE:NWL) last released its quarterly earnings results on Thursday, November 2nd. The company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.06). The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.71 billion. Newell Brands had a return on equity of 7.53% and a net margin of 6.37%. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period last year, the firm earned $0.78 EPS. research analysts forecast that Newell Brands Inc. will post 2.81 earnings per share for the current fiscal year.
Newell Brands declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, September 26th that permits the company to repurchase $256.00 million in shares. This repurchase authorization permits the company to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Wednesday, November 29th. Newell Brands’s dividend payout ratio (DPR) is presently 35.52%.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Newell Brands from a “hold” rating to a “sell” rating in a research report on Tuesday, September 19th. Jefferies Group LLC lowered shares of Newell Brands from a “buy” rating to a “hold” rating and lowered their price objective for the company from $63.00 to $49.00 in a research report on Monday, September 11th. BMO Capital Markets restated a “market perform” rating and set a $45.00 target price (down from $51.00) on shares of Newell Brands in a research report on Thursday, September 21st. TheStreet lowered shares of Newell Brands from a “b-” rating to a “c+” rating in a research report on Tuesday. Finally, J P Morgan Chase & Co decreased their target price on shares of Newell Brands from $58.00 to $56.00 and set an “overweight” rating on the stock in a research report on Thursday, September 21st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $49.57.
ILLEGAL ACTIVITY NOTICE: This report was first posted by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this report on another publication, it was stolen and reposted in violation of U.S. & international copyright laws. The correct version of this report can be read at https://stocknewstimes.com/2017/11/18/raymond-james-financial-services-advisors-inc-sells-114394-shares-of-newell-brands-inc-nwl.html.
In other news, CEO Michael B. Polk purchased 5,000 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was acquired at an average price of $43.61 per share, with a total value of $218,050.00. Following the purchase, the chief executive officer now directly owns 609,296 shares of the company’s stock, valued at approximately $26,571,398.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Scott S. Cowen purchased 2,000 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were purchased at an average cost of $43.60 per share, with a total value of $87,200.00. Following the purchase, the director now directly owns 87,883 shares in the company, valued at $3,831,698.80. The disclosure for this purchase can be found here. Insiders have bought a total of 7,100 shares of company stock valued at $309,715 in the last ninety days. Corporate insiders own 0.97% of the company’s stock.
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.
Want to see what other hedge funds are holding NWL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newell Brands Inc. (NYSE:NWL).
Receive News & Ratings for Newell Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newell Brands Inc. and related companies with MarketBeat.com's FREE daily email newsletter.