Welch & Forbes LLC grew its holdings in Newell Brands Inc (NYSE:NWL) by 7.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 207,475 shares of the company’s stock after purchasing an additional 14,219 shares during the period. Welch & Forbes LLC’s holdings in Newell Brands were worth $3,857,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in NWL. Bank of New York Mellon Corp boosted its stake in shares of Newell Brands by 2.5% during the second quarter. Bank of New York Mellon Corp now owns 12,134,310 shares of the company’s stock valued at $312,943,000 after purchasing an additional 295,384 shares during the period. Bank of Montreal Can boosted its stake in shares of Newell Brands by 14.7% during the third quarter. Bank of Montreal Can now owns 676,711 shares of the company’s stock valued at $13,737,000 after purchasing an additional 86,867 shares during the period. Capital Investment Advisors LLC purchased a new stake in shares of Newell Brands during the third quarter valued at $997,000. New Jersey Better Educational Savings Trust boosted its stake in shares of Newell Brands by 77.8% during the third quarter. New Jersey Better Educational Savings Trust now owns 16,000 shares of the company’s stock valued at $325,000 after purchasing an additional 7,000 shares during the period. Finally, Supplemental Annuity Collective Trust of NJ purchased a new stake in shares of Newell Brands during the third quarter valued at $508,000. Institutional investors own 98.42% of the company’s stock.
A number of analysts recently weighed in on NWL shares. Wells Fargo & Co reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Newell Brands in a research note on Thursday, December 20th. Citigroup increased their price target on shares of Newell Brands from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, December 4th. Zacks Investment Research raised shares of Newell Brands from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research report on Monday, January 7th. TheStreet lowered shares of Newell Brands from a “c” rating to a “d” rating in a research report on Friday, November 2nd. Finally, ValuEngine raised shares of Newell Brands from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. Eleven analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Newell Brands has a consensus rating of “Hold” and an average price target of $24.67.
In other news, SVP James L. Cunningham III sold 22,331 shares of the firm’s stock in a transaction that occurred on Monday, November 26th. The shares were sold at an average price of $23.45, for a total transaction of $523,661.95. Following the sale, the senior vice president now owns 7,321 shares of the company’s stock, valued at approximately $171,677.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.97% of the stock is owned by company insiders.
Shares of NYSE NWL traded up $0.30 during midday trading on Tuesday, reaching $21.66. 101,669 shares of the stock were exchanged, compared to its average volume of 4,770,075. The stock has a market capitalization of $10.15 billion, a price-to-earnings ratio of 7.87, a PEG ratio of 3.82 and a beta of 0.90. Newell Brands Inc has a twelve month low of $15.11 and a twelve month high of $29.55. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.98 and a quick ratio of 2.53.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Thursday, February 28th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, February 27th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.25%. Newell Brands’s payout ratio is 33.45%.
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About Newell Brands
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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