Dynamic Technology Lab Private Ltd bought a new position in shares of Newell Brands Inc (NYSE:NWL) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 82,385 shares of the company’s stock, valued at approximately $1,672,000.
Other institutional investors have also added to or reduced their stakes in the company. Morgan Stanley lifted its holdings in Newell Brands by 6.0% during the 2nd quarter. Morgan Stanley now owns 3,354,254 shares of the company’s stock worth $86,507,000 after buying an additional 190,217 shares in the last quarter. Manning & Napier Group LLC lifted its holdings in Newell Brands by 46.0% during the 3rd quarter. Manning & Napier Group LLC now owns 155,902 shares of the company’s stock worth $3,164,000 after buying an additional 49,099 shares in the last quarter. Bank of Montreal Can lifted its holdings in Newell Brands by 14.7% during the 3rd quarter. Bank of Montreal Can now owns 676,711 shares of the company’s stock worth $13,737,000 after buying an additional 86,867 shares in the last quarter. 22NW LP acquired a new stake in Newell Brands during the 2nd quarter worth approximately $4,011,000. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Newell Brands by 7.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 400,370 shares of the company’s stock worth $10,325,000 after buying an additional 29,285 shares in the last quarter. Institutional investors own 98.42% of the company’s stock.
Shares of NYSE:NWL opened at $22.68 on Friday. Newell Brands Inc has a 52 week low of $15.11 and a 52 week high of $32.58. The company has a current ratio of 2.98, a quick ratio of 2.53 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $10.99 billion, a price-to-earnings ratio of 8.25, a PEG ratio of 3.96 and a beta of 0.92.
Newell Brands (NYSE:NWL) last announced its quarterly earnings data on Friday, November 2nd. The company reported $0.81 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the prior year, the firm posted $0.86 EPS. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, research analysts forecast that Newell Brands Inc will post 1.22 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date is Thursday, November 29th. Newell Brands’s dividend payout ratio is presently 33.45%.
NWL has been the topic of a number of research reports. BMO Capital Markets reduced their target price on shares of Newell Brands from $25.00 to $20.00 and set a “market perform” rating on the stock in a report on Monday, November 5th. Zacks Investment Research reiterated a “strong sell” rating on shares of Newell Brands in a report on Wednesday, November 14th. Citigroup dropped their price objective on shares of Newell Brands from $29.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, August 24th. ValuEngine raised shares of Newell Brands from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. Finally, TheStreet downgraded shares of Newell Brands from a “c” rating to a “d” rating in a research report on Friday, November 2nd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $26.73.
In related news, SVP James L. Cunningham III sold 22,331 shares of the stock in a transaction on Monday, November 26th. The shares were sold at an average price of $23.45, for a total value of $523,661.95. Following the transaction, the senior vice president now directly owns 7,321 shares of the company’s stock, valued at approximately $171,677.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Brett Icahn bought 100,000 shares of the company’s stock in a transaction that occurred on Monday, November 12th. The stock was bought at an average cost of $20.03 per share, for a total transaction of $2,003,000.00. The disclosure for this purchase can be found here. Corporate insiders own 0.97% of the company’s stock.
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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