Newell Brands Inc. (NYSE:NWL) CEO Michael B. Polk acquired 7,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was purchased at an average cost of $28.22 per share, with a total value of $197,540.00. Following the acquisition, the chief executive officer now owns 616,296 shares in the company, valued at approximately $17,391,873.12. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Newell Brands Inc. (NWL) traded up $0.38 during mid-day trading on Monday, reaching $28.56. The company’s stock had a trading volume of 5,645,400 shares, compared to its average volume of 4,601,242. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.86 and a current ratio of 1.46. The company has a market capitalization of $14,000.00, a P/E ratio of 9.95, a price-to-earnings-growth ratio of 1.15 and a beta of 1.20. Newell Brands Inc. has a 52 week low of $27.45 and a 52 week high of $55.08.
Newell Brands (NYSE:NWL) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The company had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.71 billion. Newell Brands had a return on equity of 11.52% and a net margin of 8.34%. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.78 EPS. sell-side analysts anticipate that Newell Brands Inc. will post 2.81 EPS for the current year.
Newell Brands announced that its board has initiated a stock repurchase program on Tuesday, September 26th that allows the company to buyback $256.00 million in shares. This buyback authorization allows the company to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date is Wednesday, November 29th. Newell Brands’s payout ratio is 35.52%.
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A number of brokerages have recently issued reports on NWL. Morgan Stanley dropped their price target on Newell Brands from $54.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, November 3rd. Royal Bank Of Canada reiterated a “top pick” rating and set a $60.00 price target on shares of Newell Brands in a research report on Tuesday, August 29th. Jefferies Group LLC reiterated a “buy” rating and set a $65.00 price target (down previously from $66.00) on shares of Newell Brands in a research report on Monday, August 7th. TheStreet downgraded Newell Brands from a “b-” rating to a “c+” rating in a research report on Tuesday, November 14th. Finally, Zacks Investment Research downgraded Newell Brands from a “hold” rating to a “sell” rating in a research report on Tuesday, September 19th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $49.57.
Several large investors have recently added to or reduced their stakes in NWL. Bank of New York Mellon Corp grew its position in shares of Newell Brands by 112.5% during the second quarter. Bank of New York Mellon Corp now owns 13,850,876 shares of the company’s stock worth $742,686,000 after purchasing an additional 7,331,309 shares in the last quarter. Jennison Associates LLC bought a new position in Newell Brands during the second quarter valued at approximately $124,839,000. Ameriprise Financial Inc. boosted its stake in Newell Brands by 28.1% during the second 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 bought a new position in Newell Brands during the second quarter valued at approximately $76,301,000. Finally, Vanguard Group Inc. lifted its stake in shares of 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 purchasing an additional 1,305,820 shares during the last quarter. Hedge funds and other institutional investors own 89.67% 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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