BlackRock Inc. increased its position in shares of Newell Brands Inc. (NYSE:NWL) by 1.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,518,491 shares of the company’s stock after purchasing an additional 543,779 shares during the period. BlackRock Inc. owned approximately 6.32% of Newell Brands worth $1,636,402,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Harfst & Associates Inc. purchased a new position in shares of Newell Brands during the 1st quarter worth about $103,000. BDO Wealth Advisors LLC purchased a new position in shares of Newell Brands during the 2nd quarter worth about $107,000. Israel Discount Bank of New York purchased a new position in shares of Newell Brands during the 1st quarter worth about $112,000. Parallel Advisors LLC boosted its stake in shares of Newell Brands by 23.0% during the 1st quarter. Parallel Advisors LLC now owns 2,906 shares of the company’s stock worth $132,000 after purchasing an additional 544 shares during the period. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of Newell Brands during the 1st quarter worth about $156,000. 92.43% of the stock is owned by hedge funds and other institutional investors.
Newell Brands Inc. (NYSE:NWL) traded down 0.16% during mid-day trading on Friday, reaching $43.20. 7,608,237 shares of the company’s stock traded hands. Newell Brands Inc. has a 52 week low of $42.81 and a 52 week high of $55.08. The stock has a market capitalization of $21.17 billion, a PE ratio of 17.25 and a beta of 1.19. The stock’s 50 day moving average is $48.67 and its 200-day moving average is $50.12.
Newell Brands (NYSE:NWL) last released its quarterly earnings data on Friday, August 4th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.01. Newell Brands had a net margin of 7.87% and a return on equity of 11.47%. The company had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter last year, the company earned $0.78 earnings per share. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities analysts anticipate that Newell Brands Inc. will post $3.00 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $0.92 dividend on an annualized basis and a yield of 2.13%. Newell Brands’s payout ratio is currently 36.95%.
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Several equities research analysts have issued reports on NWL shares. Royal Bank Of Canada reissued a “top pick” rating and issued a $60.00 price objective on shares of Newell Brands in a research report on Tuesday, August 29th. Jefferies Group LLC reissued a “buy” rating and issued a $66.00 price objective (up from $65.00) on shares of Newell Brands in a research report on Thursday, July 6th. Zacks Investment Research raised shares of Newell Brands from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Saturday, July 1st. Forward View reissued a “buy” rating and issued a $58.00 price objective on shares of Newell Brands in a research report on Monday, September 11th. Finally, BidaskClub cut shares of Newell Brands from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 24th. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $57.36.
In related news, Director Scott S. Cowen acquired 2,000 shares of the business’s stock in a transaction on Monday, September 11th. The shares were bought at an average price of $43.60 per share, with a total value of $87,200.00. Following the completion of the acquisition, the director now owns 87,883 shares in the company, valued at $3,831,698.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael B. Polk bought 5,000 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was acquired at an average cost of $43.61 per share, for a total transaction of $218,050.00. Following the completion of the acquisition, the chief executive officer now directly owns 609,296 shares in the company, valued at $26,571,398.56. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 7,046 shares of company stock worth $307,669. 0.97% of the stock is owned by corporate insiders.
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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