Northwestern Mutual Wealth Management Co. increased its stake in shares of Newell Brands Inc. (NYSE:NWL) by 52.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,164 shares of the company’s stock after purchasing an additional 1,088 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Newell Brands were worth $169,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BDO Wealth Advisors LLC purchased a new position in Newell Brands during the 2nd quarter valued at $107,000. Harfst & Associates Inc. purchased a new position in Newell Brands during the 1st quarter valued at $103,000. Israel Discount Bank of New York purchased a new position in Newell Brands during the 1st quarter valued at $112,000. Parallel Advisors LLC boosted its holdings in Newell Brands by 23.0% during the 1st quarter. Parallel Advisors LLC now owns 2,906 shares of the company’s stock valued at $132,000 after acquiring an additional 544 shares during the period. Finally, Oppenheimer Asset Management Inc. purchased a new position in Newell Brands during the 1st quarter valued at $156,000. 92.36% of the stock is currently owned by hedge funds and other institutional investors.
Newell Brands Inc. (NWL) opened at 42.40 on Thursday. The firm has a market capitalization of $20.78 billion, a price-to-earnings ratio of 16.93 and a beta of 1.19. Newell Brands Inc. has a 12 month low of $42.25 and a 12 month high of $55.08. The company’s 50-day moving average price is $48.12 and its 200 day moving average price is $50.04.
Newell Brands (NYSE:NWL) last announced its quarterly earnings results on Friday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.01. The company had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $3.96 billion. Newell Brands had a return on equity of 11.47% and a net margin of 7.87%. Newell Brands’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.78 EPS. Analysts predict that Newell Brands Inc. will post $3.00 EPS for the current year.
The firm also recently declared 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. This represents a $0.92 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date was Tuesday, August 29th. Newell Brands’s dividend payout ratio (DPR) is 36.95%.
In other Newell Brands news, CEO Michael B. Polk purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was bought at an average cost of $43.61 per share, with a total value of $218,050.00. Following the acquisition, the chief executive officer now directly owns 609,296 shares of the company’s stock, valued at $26,571,398.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Scott S. Cowen bought 2,000 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were purchased at an average price of $43.60 per share, for a total transaction of $87,200.00. Following the transaction, the director now directly owns 87,883 shares of the company’s stock, valued at approximately $3,831,698.80. The disclosure for this purchase can be found here. 0.97% of the stock is owned by insiders.
A number of equities analysts recently issued reports on the company. Royal Bank Of Canada restated a “top pick” rating and set a $60.00 price objective on shares of Newell Brands in a report on Tuesday, August 29th. Jefferies Group LLC restated a “buy” rating and set a $66.00 price objective (up previously from $65.00) on shares of Newell Brands in a report on Thursday, July 6th. Zacks Investment Research upgraded Newell Brands from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Saturday, July 1st. Forward View restated a “buy” rating and set a $58.00 price objective on shares of Newell Brands in a report on Monday, September 11th. Finally, BidaskClub cut Newell Brands from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Newell Brands has a consensus rating of “Buy” and a consensus target price of $57.36.
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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