Brett Icahn Purchases 100,000 Shares of Newell Brands Inc (NWL) Stock

Newell Brands Inc (NYSE:NWL) Director Brett Icahn bought 100,000 shares of the company’s stock in a transaction on Monday, November 12th. The shares were acquired at an average price of $20.03 per share, for a total transaction of $2,003,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Shares of NYSE:NWL opened at $21.38 on Friday. The company has a market cap of $9.56 billion, a PE ratio of 7.77, a PEG ratio of 3.41 and a beta of 0.82. The company has a debt-to-equity ratio of 1.54, a quick ratio of 2.44 and a current ratio of 2.98. Newell Brands Inc has a 12 month low of $15.11 and a 12 month high of $32.58.

Newell Brands (NYSE:NWL) last announced its quarterly earnings results on Friday, November 2nd. The company reported $0.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.55. The business had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.34 billion. Newell Brands had a positive return on equity of 9.55% and a negative net margin of 46.92%. The company’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.86 EPS. Analysts expect that Newell Brands Inc will post 1.22 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date of this dividend is Thursday, November 29th. Newell Brands’s payout ratio is currently 33.45%.

Hedge funds have recently bought and sold shares of the stock. Morgan Stanley lifted its stake in Newell Brands by 6.0% in the 2nd quarter. Morgan Stanley now owns 3,354,254 shares of the company’s stock valued at $86,507,000 after buying an additional 190,217 shares in the last quarter. Manning & Napier Group LLC lifted its stake in Newell Brands by 46.0% in the 3rd quarter. Manning & Napier Group LLC now owns 155,902 shares of the company’s stock valued at $3,164,000 after buying an additional 49,099 shares in the last quarter. Bank of Montreal Can lifted its stake in Newell Brands by 14.7% in the 3rd quarter. Bank of Montreal Can now owns 676,711 shares of the company’s stock valued at $13,737,000 after buying an additional 86,867 shares in the last quarter. 22NW LP purchased a new stake in Newell Brands in the 2nd quarter valued at approximately $4,011,000. Finally, Oppenheimer Asset Management Inc. lifted its stake in Newell Brands by 7.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 400,370 shares of the company’s stock valued at $10,325,000 after buying an additional 29,285 shares in the last quarter. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

NWL has been the topic of several recent analyst reports. Barclays reiterated a “hold” rating and set a $24.00 target price on shares of Newell Brands in a research report on Sunday, October 7th. Bank of America decreased their price target on Newell Brands from $25.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, October 4th. Jefferies Financial Group decreased their price target on Newell Brands to $20.00 and set a “hold” rating on the stock in a research note on Monday, November 5th. Citigroup decreased their price target on Newell Brands from $29.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, August 24th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $24.00 price target on shares of Newell Brands in a research note on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $26.60.

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Newell Brands Company Profile

Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. The company's Live segment offers household products, including kitchen appliances, gourmet cookware, bakeware and cutlery, food storage and home storage products, fresh preserving products, and home fragrance products; and baby gear, infant care, and health products primarily under Aprica, Baby Jogger, Ball, Calphalon, Chesapeake Bay Candle, Crock-Pot, FoodSaver, Graco, Mr.

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