Vident Investment Advisory LLC bought a new stake in Newell Brands Inc. (NYSE:NWL) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 7,179 shares of the company’s stock, valued at approximately $306,000.
Other large investors have also recently modified their holdings of the company. State of Wisconsin Investment Board boosted its stake in shares of Newell Brands by 11.5% in the 3rd quarter. State of Wisconsin Investment Board now owns 447,404 shares of the company’s stock valued at $19,091,000 after purchasing an additional 46,217 shares in the last quarter. Eaton Vance Management raised its holdings in shares of Newell Brands by 2.1% in the second quarter. Eaton Vance Management now owns 4,055,702 shares of the company’s stock valued at $217,467,000 after buying an additional 82,184 shares during the last quarter. King Luther Capital Management Corp raised its holdings in shares of Newell Brands by 1.0% in the second quarter. King Luther Capital Management Corp now owns 3,203,006 shares of the company’s stock valued at $171,745,000 after buying an additional 30,576 shares during the last quarter. Whittier Trust Co. raised its holdings in Newell Brands by 85.8% during the 3rd quarter. Whittier Trust Co. now owns 10,658 shares of the company’s stock worth $455,000 after purchasing an additional 4,921 shares during the last quarter. Finally, Macquarie Group Ltd. raised its holdings in Newell Brands by 2.6% during the 3rd quarter. Macquarie Group Ltd. now owns 368,620 shares of the company’s stock worth $15,729,000 after purchasing an additional 9,394 shares during the last quarter. Institutional investors own 94.29% of the company’s stock.
NWL has been the subject of several recent research reports. JPMorgan Chase & Co. cut Newell Brands from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $56.00 to $63.00 in a report on Thursday, November 2nd. Oppenheimer reissued a “hold” rating and set a $42.00 price objective on shares of Newell Brands in a report on Tuesday, October 31st. Jefferies Group reaffirmed a “hold” rating and issued a $47.00 price target on shares of Newell Brands in a research note on Thursday, October 19th. Barclays reaffirmed a “buy” rating and issued a $35.00 price target on shares of Newell Brands in a research note on Wednesday, December 6th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Newell Brands in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $45.20.
Newell Brands (NYSE:NWL) last released its quarterly earnings results on Thursday, November 2nd. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Newell Brands had a return on equity of 11.52% and a net margin of 8.34%. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same period last year, the company earned $0.78 EPS. The company’s revenue was down 7.0% compared to the same quarter last year. research analysts anticipate that Newell Brands Inc. will post 2.81 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, November 30th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend was Wednesday, November 29th. Newell Brands’s dividend payout ratio (DPR) is currently 35.52%.
Newell Brands announced that its board has approved a stock repurchase plan on Tuesday, September 26th that authorizes the company to repurchase $256.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
In other news, CEO Michael B. Polk purchased 7,000 shares of Newell Brands stock in a transaction on Monday, November 20th. The stock was purchased at an average price of $28.22 per share, with a total value of $197,540.00. Following the transaction, the chief executive officer now directly 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 is available at the SEC website. Corporate insiders own 0.97% of the company’s stock.
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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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