King Luther Capital Management Corp decreased its holdings in shares of Newell Brands Inc (NYSE:NWL) by 5.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 236,481 shares of the company’s stock after selling 13,139 shares during the quarter. King Luther Capital Management Corp owned about 0.05% of Newell Brands worth $4,801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of NWL. Franklin Resources Inc. raised its holdings in Newell Brands by 4,814.0% during the 3rd 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 period. BlackRock Inc. grew its position in shares of Newell Brands by 10.7% during the 3rd quarter. BlackRock Inc. now owns 41,188,089 shares of the company’s stock valued at $836,120,000 after purchasing an additional 3,982,751 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Newell Brands by 15.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 14,040,672 shares of the company’s stock valued at $285,027,000 after purchasing an additional 1,906,362 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Newell Brands by 90.9% during the 2nd quarter. Wells Fargo & Company MN now owns 1,843,491 shares of the company’s stock valued at $47,544,000 after purchasing an additional 877,661 shares in the last quarter. Finally, First Trust Advisors LP grew its position in shares of Newell Brands by 241.2% during the 2nd quarter. First Trust Advisors LP now owns 1,178,641 shares of the company’s stock valued at $30,397,000 after purchasing an additional 833,230 shares in the last quarter. 98.42% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP James L. Cunningham III sold 22,331 shares of the company’s 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 completion of the transaction, the senior vice president now directly owns 7,321 shares in the company, valued at $171,677.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brett Icahn bought 100,000 shares of the business’s stock in a transaction that occurred on Monday, November 12th. The stock was bought at an average price 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 currently owned by insiders.
A number of research analysts have recently commented on NWL shares. Bank of America reduced their price target on shares of Newell Brands from $25.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, October 4th. Morgan Stanley set a $23.00 price target on shares of Newell Brands and gave the company a “hold” rating in a research report on Tuesday, November 6th. Wells Fargo & Co restated a “buy” rating on shares of Newell Brands in a research report on Friday, November 2nd. Zacks Investment Research restated a “strong sell” rating on shares of Newell Brands in a research report on Wednesday, November 14th. Finally, TheStreet lowered shares of Newell Brands from a “c” rating to a “d” rating in a research report on Friday, November 2nd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $26.73.
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 firm 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 announced its earnings results on Friday, November 2nd. The company reported $0.81 earnings per share (EPS) for the quarter, topping the 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 analyst estimates of $2.34 billion. During the same period in the previous year, the business earned $0.86 earnings per share. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. Sell-side analysts predict that Newell Brands Inc will post 1.22 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be given a $0.23 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.92 annualized dividend and a yield of 4.06%. Newell Brands’s dividend payout ratio (DPR) is presently 33.45%.
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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