Sumitomo Mitsui Trust Holdings Inc. decreased its stake in shares of Newell Brands Inc (NYSE:NWL) by 8.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,434,015 shares of the company’s stock after selling 130,854 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.30% of Newell Brands worth $67,642,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in NWL. Rafferty Asset Management LLC acquired a new stake in shares of Newell Brands during the fourth quarter valued at about $717,000. Scopus Asset Management L.P. acquired a new stake in Newell Brands during the third quarter worth about $125,094,000. LMR Partners LLP boosted its stake in Newell Brands by 60.8% in the third quarter. LMR Partners LLP now owns 44,016 shares of the company’s stock worth $2,318,000 after buying an additional 16,650 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Newell Brands by 5.4% in the third quarter. Principal Financial Group Inc. now owns 745,113 shares of the company’s stock worth $39,238,000 after buying an additional 38,028 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in Newell Brands by 7.3% in the fourth quarter. Public Sector Pension Investment Board now owns 126,065 shares of the company’s stock valued at $5,629,000 after buying an additional 8,600 shares during the last quarter. Institutional investors own 93.22% of the company’s stock.
Newell Brands Inc (NYSE:NWL) traded up 1.79% during midday trading on Friday, reaching $52.80. 4,858,315 shares of the company were exchanged. The firm has a 50-day moving average price of $48.30 and a 200-day moving average price of $47.47. The company has a market capitalization of $25.51 billion, a PE ratio of 22.41 and a beta of 0.94. Newell Brands Inc has a 52 week low of $43.43 and a 52 week high of $55.45.
Newell Brands (NYSE:NWL) last issued its quarterly earnings data on Monday, May 8th. The company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.05. The firm had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.23 billion. Newell Brands had a net margin of 3.98% and a return on equity of 13.59%. The firm’s revenue was up 148.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.40 EPS. Equities research analysts anticipate that Newell Brands Inc will post $3.11 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st will be issued a dividend of $0.23 per share. This is a positive change from Newell Brands’s previous quarterly dividend of $0.19. This represents a $0.92 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Friday, May 26th. Newell Brands’s dividend payout ratio is presently 64.96%.
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Several brokerages have recently issued reports on NWL. JPMorgan Chase & Co. began coverage on Newell Brands in a research note on Tuesday, March 21st. They issued an “overweight” rating and a $63.00 price target on the stock. Jefferies Group LLC set a $61.00 price objective on Newell Brands and gave the company a “buy” rating in a research note on Monday, February 6th. Royal Bank of Canada reissued a “buy” rating on shares of Newell Brands in a research note on Tuesday, February 7th. KeyCorp decreased their price objective on Newell Brands from $60.00 to $57.00 and set an “overweight” rating for the company in a report on Tuesday, February 7th. Finally, Oppenheimer Holdings Inc. restated a “market perform” rating and set a $50.00 target price (down previously from $52.00) on shares of Newell Brands in a research report on Thursday, February 2nd. Four analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. Newell Brands presently has a consensus rating of “Buy” and an average price target of $57.93.
In related news, Director Martin E. Franklin sold 340,000 shares of the firm’s stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $48.34, for a total transaction of $16,435,600.00. Following the transaction, the director now directly owns 4,840,926 shares in the company, valued at $234,010,362.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas E. Clarke sold 5,353 shares of the firm’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $52.49, for a total value of $280,978.97. Following the completion of the sale, the director now owns 66,286 shares in the company, valued at $3,479,352.14. The disclosure for this sale can be found here. Insiders sold 350,706 shares of company stock worth $16,980,910 in the last 90 days. 0.66% of the stock is currently owned by insiders.
About Newell Brands
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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