AMP Capital Investors Ltd decreased its position in shares of Newell Brands Inc (NYSE:NWL) by 20.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 325,946 shares of the company’s stock after selling 85,792 shares during the period. AMP Capital Investors Ltd owned 0.07% of Newell Brands worth $8,406,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in NWL. Northwest Wealth Management LLC increased its holdings in shares of Newell Brands by 5,180.7% during the 2nd quarter. Northwest Wealth Management LLC now owns 4,383 shares of the company’s stock worth $113,000 after purchasing an additional 4,300 shares during the period. Piedmont Investment Advisors LLC bought a new position in shares of Newell Brands during the 2nd quarter worth about $146,000. Fairfield Bush & CO. bought a new position in shares of Newell Brands during the 1st quarter worth about $148,000. Synovus Financial Corp bought a new position in shares of Newell Brands during the 1st quarter worth about $150,000. Finally, BlueMountain Capital Management LLC bought a new position in shares of Newell Brands during the 2nd quarter worth about $151,000. 97.80% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Michael B. Polk purchased 10,000 shares of Newell Brands stock in a transaction on Monday, August 13th. The shares were purchased at an average cost of $20.63 per share, for a total transaction of $206,300.00. Following the completion of the transaction, the chief executive officer now directly owns 941,951 shares in the company, valued at $19,432,449.13. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James Craigie purchased 11,500 shares of Newell Brands stock in a transaction on Wednesday, August 8th. The stock was purchased at an average price of $21.33 per share, for a total transaction of $245,295.00. Following the completion of the transaction, the director now owns 14,081 shares of the company’s stock, valued at $300,347.73. The disclosure for this purchase can be found here. 0.97% of the stock is owned by insiders.
Several research analysts have recently issued reports on NWL shares. Wells Fargo & Co restated a “buy” rating on shares of Newell Brands in a report on Monday, June 11th. Citigroup dropped their price objective on shares of Newell Brands from $36.00 to $29.00 and set a “buy” rating on the stock in a report on Wednesday, August 8th. Royal Bank of Canada restated a “hold” rating and set a $24.00 price objective on shares of Newell Brands in a report on Wednesday, August 8th. BMO Capital Markets lowered their target price on shares of Newell Brands from $27.00 to $25.00 and set a “hold” rating on the stock in a research note on Wednesday, August 8th. Finally, Jefferies Financial Group lowered their target price on shares of Newell Brands from $29.00 to $23.00 and set a “hold” rating on the stock in a research note on Wednesday, August 8th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Newell Brands presently has a consensus rating of “Hold” and a consensus target price of $29.12.
NYSE NWL traded down $1.15 on Friday, reaching $18.82. The company’s stock had a trading volume of 16,041,284 shares, compared to its average volume of 8,301,391. The stock has a market cap of $9.59 billion, a P/E ratio of 6.84, a PEG ratio of 4.72 and a beta of 0.60. Newell Brands Inc has a 52 week low of $18.61 and a 52 week high of $43.99. The company has a quick ratio of 2.74, a current ratio of 3.17 and a debt-to-equity ratio of 0.66.
Newell Brands (NYSE:NWL) last released its quarterly earnings results on Monday, August 6th. The company reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.04. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $3.83 billion. Newell Brands had a net margin of 16.39% and a return on equity of 9.58%. The company’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.87 earnings per share. Research analysts anticipate that Newell Brands Inc will post 0.88 earnings per share for the current year.
Newell Brands declared that its Board of Directors has initiated a share buyback program on Monday, June 11th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 19.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 31st were given a $0.23 dividend. The ex-dividend date was Thursday, August 30th. This represents a $0.92 dividend on an annualized basis and a yield of 4.89%. Newell Brands’s dividend payout ratio (DPR) is presently 33.45%.
About Newell Brands
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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