Symons Capital Management Inc. cut its holdings in Newell Brands Inc (NYSE:NWL) by 9.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 477,806 shares of the company’s stock after selling 47,557 shares during the period. Newell Brands comprises approximately 4.1% of Symons Capital Management Inc.’s portfolio, making the stock its 4th biggest holding. Symons Capital Management Inc. owned about 0.11% of Newell Brands worth $8,945,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in NWL. Lenox Wealth Advisors LLC purchased a new position in Newell Brands in the third quarter valued at approximately $35,000. Coastal Investment Advisors Inc. lifted its stake in Newell Brands by 218.2% in the second quarter. Coastal Investment Advisors Inc. now owns 1,909 shares of the company’s stock valued at $29,000 after purchasing an additional 1,309 shares during the last quarter. Westside Investment Management Inc. purchased a new position in Newell Brands in the second quarter valued at approximately $30,000. Phocas Financial Corp. purchased a new position in Newell Brands in the second quarter valued at approximately $352,000. Finally, LifePlan Financial Group Inc purchased a new position in Newell Brands in the second quarter valued at approximately $40,000. 98.42% of the stock is owned by institutional investors.
Several research firms recently commented on NWL. Barclays reiterated a “hold” rating on shares of Newell Brands in a research note on Wednesday, August 7th. Wells Fargo & Co reiterated a “buy” rating on shares of Newell Brands in a research note on Wednesday, July 31st. Zacks Investment Research upgraded Newell Brands from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective on the stock in a research note on Wednesday. SunTrust Banks upgraded Newell Brands from a “hold” rating to a “buy” rating and upped their price objective for the company from $15.00 to $25.00 in a research note on Monday, September 30th. Finally, Morgan Stanley upped their price objective on Newell Brands from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 8th. Six analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $19.78.
In related news, Director Michael Todman bought 5,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average price of $15.76 per share, for a total transaction of $78,800.00. Following the completion of the transaction, the director now directly owns 72,184 shares in the company, valued at approximately $1,137,619.84. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.97% of the company’s stock.
Shares of NYSE:NWL traded up $0.33 during trading on Friday, hitting $20.37. 3,467,526 shares of the company were exchanged, compared to its average volume of 5,686,265. The company has a market cap of $8.46 billion, a PE ratio of 7.41, a P/E/G ratio of 3.82 and a beta of 0.90. The stock has a 50 day moving average of $19.07 and a 200 day moving average of $16.30. Newell Brands Inc has a 52-week low of $13.04 and a 52-week high of $24.57. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.98 and a quick ratio of 2.53.
Newell Brands (NYSE:NWL) last posted its earnings results on Friday, November 1st. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.17. The firm had revenue of $2.45 billion for the quarter, compared to the consensus estimate 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 quarter in the prior year, the business posted $0.81 earnings per share. Sell-side analysts forecast that Newell Brands Inc will post 1.22 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 4.52%. Newell Brands’s dividend payout ratio is currently 33.45%.
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.
Featured Story: How to find the components of the quick ratio
Receive News & Ratings for Newell Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newell Brands and related companies with MarketBeat.com's FREE daily email newsletter.