Newell Brands Inc (NWL) Stake Lowered by King Luther Capital Management Corp

King Luther Capital Management Corp trimmed its position in shares of Newell Brands Inc (NYSE:NWL) by 5.3% in the 3rd quarter, Holdings Channel reports. The fund owned 236,481 shares of the company’s stock after selling 13,139 shares during the quarter. King Luther Capital Management Corp’s holdings in Newell Brands were worth $4,801,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of NWL. Franklin Resources Inc. raised its stake in shares of Newell Brands by 4,814.0% during the third quarter. Franklin Resources Inc. now owns 11,308,700 shares of the company’s stock valued at $229,568,000 after acquiring an additional 11,078,567 shares during the last quarter. BlackRock Inc. raised its stake in shares of Newell Brands by 10.7% during the third quarter. BlackRock Inc. now owns 41,188,089 shares of the company’s stock valued at $836,120,000 after acquiring an additional 3,982,751 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Newell Brands by 15.7% during the third quarter. Bank of New York Mellon Corp now owns 14,040,672 shares of the company’s stock valued at $285,027,000 after acquiring an additional 1,906,362 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Newell Brands by 90.9% during the second quarter. Wells Fargo & Company MN now owns 1,843,491 shares of the company’s stock valued at $47,544,000 after acquiring an additional 877,661 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Newell Brands by 241.2% during the second quarter. First Trust Advisors LP now owns 1,178,641 shares of the company’s stock valued at $30,397,000 after acquiring an additional 833,230 shares during the last quarter. 98.42% of the stock is owned by hedge funds and other institutional investors.

In related news, SVP James L. Cunningham III sold 22,331 shares of the stock in a transaction dated Monday, November 26th. The shares were sold at an average price of $23.45, for a total value of $523,661.95. Following the completion of the transaction, the senior vice president now directly owns 7,321 shares of the company’s stock, valued at $171,677.45. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Brett Icahn purchased 100,000 shares of the firm’s stock in a transaction that occurred on Monday, November 12th. The stock was bought at an average cost of $20.03 per share, with a total value of $2,003,000.00. The disclosure for this purchase can be found here. 0.97% of the stock is owned by corporate insiders.

Several equities analysts have recently commented on the stock. Zacks Investment Research reaffirmed a “strong sell” rating on shares of Newell Brands in a research note on Wednesday, November 14th. Citigroup upped their price objective on shares of Newell Brands from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday. Morgan Stanley set a $23.00 price objective on shares of Newell Brands and gave the company a “hold” rating in a research note on Tuesday, November 6th. Deutsche Bank upped their price objective on shares of Newell Brands from $20.00 to $21.00 and gave the company a “hold” rating in a research note on Monday, November 5th. Finally, Wells Fargo & Co upped their price objective on shares of Newell Brands from $33.00 to $36.00 and gave the company an “outperform” rating in a research note on Monday, November 5th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $26.73.

NWL stock opened at $22.68 on Friday. Newell Brands Inc has a 1 year low of $15.11 and a 1 year high of $32.58. The stock has a market capitalization of $10.72 billion, a P/E ratio of 9.65, a P/E/G ratio of 3.87 and a beta of 0.92. The company has a quick ratio of 2.53, a current ratio of 2.98 and a debt-to-equity ratio of 1.54.

Newell Brands (NYSE:NWL) last released its quarterly earnings results on Friday, November 2nd. The company reported $0.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.55. Newell Brands had a negative net margin of 46.92% and a positive return on equity of 9.55%. The company had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the prior year, the firm earned $0.86 earnings per share. Newell Brands’s revenue was down 7.7% on a year-over-year basis. On average, equities analysts anticipate that Newell Brands Inc will post 1.22 earnings per share for the current fiscal year.

The business also recently declared 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 4.06%. The ex-dividend date is Thursday, November 29th. Newell Brands’s payout ratio is currently 33.45%.

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Newell Brands 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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Institutional Ownership by Quarter for Newell Brands (NYSE:NWL)

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