Newell Brands Inc. (NYSE:NWL) was the recipient of a large decline in short interest in the month of December. As of December 29th, there was short interest totalling 16,373,815 shares, a decline of 25.1% from the December 15th total of 21,847,449 shares. Currently, 3.4% of the shares of the company are short sold. Based on an average daily volume of 4,478,481 shares, the short-interest ratio is presently 3.7 days.
In other Newell Brands news, CEO Michael B. Polk acquired 7,000 shares of the business’s stock in a transaction on Monday, November 20th. The stock was purchased at an average price of $28.22 per share, with a total value of $197,540.00. Following the acquisition, the chief executive officer now directly 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 SEC, which is available through this hyperlink. Insiders own 0.97% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Newell Brands by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 47,877,545 shares of the company’s stock worth $2,567,193,000 after purchasing an additional 1,305,820 shares in the last quarter. Capital World Investors increased its position in Newell Brands by 2.0% during the 2nd quarter. Capital World Investors now owns 31,195,887 shares of the company’s stock worth $1,672,723,000 after purchasing an additional 610,973 shares in the last quarter. FMR LLC increased its position in Newell Brands by 0.5% during the 2nd quarter. FMR LLC now owns 11,462,512 shares of the company’s stock worth $614,621,000 after purchasing an additional 52,553 shares in the last quarter. American Century Companies Inc. increased its position in Newell Brands by 2.9% during the 3rd quarter. American Century Companies Inc. now owns 7,946,423 shares of the company’s stock worth $339,074,000 after purchasing an additional 225,484 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in Newell Brands by 6.4% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 3,934,152 shares of the company’s stock worth $210,949,000 after purchasing an additional 236,900 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.
Newell Brands (NYSE NWL) opened at $31.75 on Wednesday. The stock has a market cap of $15,560.00, a P/E ratio of 12.26, a P/E/G ratio of 1.22 and a beta of 1.10. Newell Brands has a 12-month low of $27.45 and a 12-month high of $55.08. The company has a current ratio of 1.46, a quick ratio of 0.86 and a debt-to-equity ratio of 0.80.
Newell Brands (NYSE:NWL) last released its quarterly earnings data on Thursday, November 2nd. The company reported $0.86 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.06). The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.71 billion. Newell Brands had a return on equity of 11.52% and a net margin of 8.34%. Newell Brands’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.78 earnings per share. analysts anticipate that Newell Brands will post 2.81 earnings per share for the current year.
Newell Brands declared that its board has initiated a share buyback program on Tuesday, September 26th that authorizes the company to buyback $256.00 million in shares. This buyback authorization authorizes the company to repurchase up to 1.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
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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