BlackRock Inc. raised its holdings in shares of Newell Brands Inc (NYSE:NWL) by 8.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 48,793,194 shares of the company’s stock after purchasing an additional 3,743,507 shares during the period. BlackRock Inc. owned approximately 11.52% of Newell Brands worth $752,391,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Commonwealth Bank of Australia boosted its stake in Newell Brands by 13.6% during the 2nd quarter. Commonwealth Bank of Australia now owns 5,346 shares of the company’s stock valued at $81,000 after purchasing an additional 640 shares during the last quarter. Kings Point Capital Management boosted its stake in shares of Newell Brands by 15.2% in the 2nd quarter. Kings Point Capital Management now owns 6,695 shares of the company’s stock worth $103,000 after buying an additional 884 shares during the last quarter. CSat Investment Advisory L.P. boosted its stake in shares of Newell Brands by 31.6% in the 2nd quarter. CSat Investment Advisory L.P. now owns 4,094 shares of the company’s stock worth $63,000 after buying an additional 984 shares during the last quarter. MML Investors Services LLC boosted its stake in shares of Newell Brands by 5.8% in the 2nd quarter. MML Investors Services LLC now owns 18,598 shares of the company’s stock worth $287,000 after buying an additional 1,017 shares during the last quarter. Finally, Truvestments Capital LLC boosted its stake in shares of Newell Brands by 21.4% in the 2nd quarter. Truvestments Capital LLC now owns 5,912 shares of the company’s stock worth $91,000 after buying an additional 1,044 shares during the last quarter. Institutional investors and hedge funds own 98.42% of the company’s stock.
Shares of Newell Brands stock opened at $20.37 on Friday. Newell Brands Inc has a one year low of $13.04 and a one year high of $24.57. The stock’s fifty day moving average is $19.07 and its 200 day moving average is $16.30. The stock has a market cap of $8.46 billion, a P/E ratio of 7.41, a P/E/G ratio of 3.82 and a beta of 0.90. The company has a debt-to-equity ratio of 1.54, a quick ratio of 2.53 and a current ratio of 2.98.
Newell Brands (NYSE:NWL) last posted its quarterly earnings results on Friday, November 1st. The company reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.17. The business had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Newell Brands had a positive return on equity of 9.55% and a negative net margin of 46.92%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period last year, the firm earned $0.81 earnings per share. Analysts predict that Newell Brands Inc will post 1.22 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 4.52%. Newell Brands’s dividend payout ratio is presently 33.45%.
A number of equities analysts have recently issued reports on the company. Wells Fargo & Co restated a “buy” rating on shares of Newell Brands in a research note on Wednesday, July 31st. Deutsche Bank dropped their price target on Newell Brands from $18.00 to $16.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. SunTrust Banks upgraded Newell Brands from a “hold” rating to a “buy” rating and raised their price target for the stock from $15.00 to $25.00 in a research note on Monday, September 30th. Barclays restated a “hold” rating on shares of Newell Brands in a research note on Wednesday, August 7th. Finally, TheStreet upgraded Newell Brands from a “d” rating to a “c-” rating in a research note on Friday, November 1st. Six analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Newell Brands currently has an average rating of “Buy” and an average price target of $19.78.
In other Newell Brands news, Director Michael Todman purchased 5,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were acquired at an average cost of $15.76 per share, with a total value of $78,800.00. Following the completion of the acquisition, the director now directly owns 72,184 shares in the company, valued at $1,137,619.84. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.97% of the stock is owned by company insiders.
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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