California Public Employees Retirement System lessened its holdings in Newell Brands Inc (NYSE:NWL) by 0.9% in the 4th quarter, HoldingsChannel reports. The fund owned 1,027,129 shares of the company’s stock after selling 9,162 shares during the period. California Public Employees Retirement System’s holdings in Newell Brands were worth $31,738,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. American Century Companies Inc. boosted its holdings in Newell Brands by 2.9% in the third quarter. American Century Companies Inc. now owns 7,946,423 shares of the company’s stock worth $339,074,000 after acquiring an additional 225,484 shares in the last quarter. First Manhattan Co. boosted its holdings in Newell Brands by 12.1% in the third quarter. First Manhattan Co. now owns 3,649,938 shares of the company’s stock worth $155,742,000 after acquiring an additional 394,123 shares in the last quarter. King Luther Capital Management Corp boosted its holdings in Newell Brands by 7.0% in the third quarter. King Luther Capital Management Corp now owns 3,427,042 shares of the company’s stock worth $146,232,000 after acquiring an additional 224,036 shares in the last quarter. Jennison Associates LLC boosted its holdings in Newell Brands by 33.3% in the third quarter. Jennison Associates LLC now owns 3,103,400 shares of the company’s stock worth $132,422,000 after acquiring an additional 775,189 shares in the last quarter. Finally, Bessemer Group Inc. boosted its holdings in Newell Brands by 2.9% in the third quarter. Bessemer Group Inc. now owns 3,028,535 shares of the company’s stock worth $129,228,000 after acquiring an additional 84,398 shares in the last quarter. 91.23% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Michael B. Polk purchased 7,000 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was bought at an average cost of $28.22 per share, with a total value of $197,540.00. Following the completion of the acquisition, the chief executive officer now owns 616,296 shares of the company’s stock, valued at approximately $17,391,873.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.97% of the company’s stock.
Newell Brands Inc (NYSE NWL) opened at $28.23 on Friday. Newell Brands Inc has a twelve month low of $23.85 and a twelve month high of $55.08. The stock has a market capitalization of $13,840.00, a P/E ratio of 13.07, a price-to-earnings-growth ratio of 1.31 and a beta of 0.89. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.46 and a quick ratio of 0.86.
Newell Brands (NYSE:NWL) last announced its quarterly earnings results on Friday, February 16th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.01. Newell Brands had a return on equity of 11.52% and a net margin of 8.34%. The company had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the previous year, the company posted $0.80 earnings per share. Newell Brands’s revenue for the quarter was down 9.5% on a year-over-year basis. equities research analysts predict that Newell Brands Inc will post 2.73 EPS for the current fiscal year.
Newell Brands declared that its Board of Directors has initiated a share buyback plan on Thursday, November 2nd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase plans 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 Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Tuesday, February 27th. Newell Brands’s payout ratio is presently 42.59%.
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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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