PNC Financial Services Group Inc. grew its stake in Newell Brands Inc (NYSE:NWL) by 9.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 147,149 shares of the company’s stock after buying an additional 12,776 shares during the period. PNC Financial Services Group Inc.’s holdings in Newell Brands were worth $2,989,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Piedmont Investment Advisors LLC purchased a new stake in Newell Brands during the 2nd quarter worth approximately $146,000. Commonwealth Equity Services LLC increased its stake in Newell Brands by 32.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 133,753 shares of the company’s stock worth $3,449,000 after buying an additional 32,582 shares during the period. Comerica Bank increased its stake in Newell Brands by 3.2% during the 2nd quarter. Comerica Bank now owns 146,128 shares of the company’s stock worth $4,038,000 after buying an additional 4,529 shares during the period. Wells Fargo & Company MN increased its stake in Newell Brands by 90.9% during the 2nd quarter. Wells Fargo & Company MN now owns 1,843,491 shares of the company’s stock worth $47,544,000 after buying an additional 877,661 shares during the period. Finally, First Trust Advisors LP increased its stake in Newell Brands by 241.2% during the 2nd quarter. First Trust Advisors LP now owns 1,178,641 shares of the company’s stock worth $30,397,000 after buying an additional 833,230 shares during the period. 98.42% of the stock is owned by institutional investors.
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 $10.72 billion, a price-to-earnings ratio of 9.65, a PEG ratio of 3.87 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 of this dividend is Thursday, November 29th. Newell Brands’s dividend payout ratio is presently 33.45%.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Newell Brands from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 9th. Jefferies Financial Group cut their target price on shares of Newell Brands to $20.00 and set a “hold” rating on the stock in a research note on Monday, November 5th. Bank of America cut their target price on shares of Newell Brands from $25.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, October 4th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Newell Brands in a research note on Friday, November 2nd. Finally, Citigroup cut their target price on shares of Newell Brands from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, October 31st. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price 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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