Empire Life Investments Inc. lifted its holdings in Newell Brands Inc (NYSE:NWL) by 23.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 416,248 shares of the company’s stock after purchasing an additional 78,368 shares during the quarter. Empire Life Investments Inc. owned 0.08% of Newell Brands worth $12,862,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the stock. Guggenheim Capital LLC grew its holdings in shares of Newell Brands by 122.5% in the fourth quarter. Guggenheim Capital LLC now owns 1,523,735 shares of the company’s stock valued at $47,083,000 after purchasing an additional 838,982 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Newell Brands by 178.9% in the fourth quarter. Franklin Resources Inc. now owns 7,716,072 shares of the company’s stock valued at $238,427,000 after purchasing an additional 4,949,143 shares in the last quarter. Advisor Group Inc. grew its holdings in shares of Newell Brands by 195.7% in the fourth quarter. Advisor Group Inc. now owns 27,046 shares of the company’s stock valued at $835,000 after purchasing an additional 17,900 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Newell Brands by 250.2% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 214,244 shares of the company’s stock valued at $6,620,000 after purchasing an additional 153,064 shares in the last quarter. Finally, Tocqueville Asset Management L.P. grew its holdings in shares of Newell Brands by 488.3% in the fourth quarter. Tocqueville Asset Management L.P. now owns 745,893 shares of the company’s stock valued at $23,048,000 after purchasing an additional 619,108 shares in the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.
Shares of Newell Brands Inc (NWL) opened at $27.32 on Monday. The stock has a market cap of $13,255.66, a price-to-earnings ratio of 4.85, a PEG ratio of 1.41 and a beta of 0.88. Newell Brands Inc has a one year low of $23.85 and a one year high of $55.08. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.83 and a current ratio of 1.41.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 28th will be issued a $0.23 dividend. The ex-dividend date is Tuesday, February 27th. This represents a $0.92 annualized dividend and a dividend yield of 3.37%. Newell Brands’s payout ratio is currently 16.34%.
Several research firms have commented on NWL. KeyCorp reaffirmed a “buy” rating and set a $32.00 price objective (down from $40.00) on shares of Newell Brands in a research note on Monday, January 29th. FIX reaffirmed a “hold” rating and set a $23.00 price objective on shares of Newell Brands in a research note on Thursday, February 8th. Vetr raised shares of Newell Brands from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research note on Tuesday, February 20th. Jefferies Group reaffirmed a “hold” rating and set a $32.00 price objective on shares of Newell Brands in a research note on Thursday, January 25th. Finally, Citigroup reaffirmed a “buy” rating on shares of Newell Brands in a research note on Monday, March 5th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $34.50.
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Newell Brands 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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