State of Wisconsin Investment Board lifted its position in Newell Brands Inc. (NYSE:NWL) by 11.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 447,404 shares of the company’s stock after acquiring an additional 46,217 shares during the quarter. State of Wisconsin Investment Board owned 0.09% of Newell Brands worth $19,091,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of NWL. Vanguard Group Inc. boosted its position in Newell Brands by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 47,877,545 shares of the company’s stock valued at $2,567,193,000 after purchasing an additional 1,305,820 shares during the period. Capital World Investors boosted its position in Newell Brands by 2.0% during the 2nd quarter. Capital World Investors now owns 31,195,887 shares of the company’s stock valued at $1,672,723,000 after purchasing an additional 610,973 shares during the period. BlackRock Inc. boosted its position in Newell Brands by 1.8% during the 2nd quarter. BlackRock Inc. now owns 30,518,491 shares of the company’s stock valued at $1,636,402,000 after purchasing an additional 543,779 shares during the period. Bank of New York Mellon Corp boosted its position in Newell Brands by 112.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,850,876 shares of the company’s stock valued at $742,686,000 after purchasing an additional 7,331,309 shares during the period. Finally, FMR LLC boosted its position in Newell Brands by 0.5% during the 2nd quarter. FMR LLC now owns 11,462,512 shares of the company’s stock valued at $614,621,000 after purchasing an additional 52,553 shares during the period. Institutional investors own 92.03% of the company’s stock.
Shares of Newell Brands Inc. (NWL) opened at $29.30 on Friday. Newell Brands Inc. has a 12 month low of $29.22 and a 12 month high of $55.08. The company has a quick ratio of 0.86, a current ratio of 1.46 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $14,359.93, a price-to-earnings ratio of 10.21, a PEG ratio of 0.98 and a beta of 1.20.
Newell Brands (NYSE:NWL) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.86 EPS for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.06). Newell Brands had a return on equity of 11.52% and a net margin of 8.34%. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same period in the prior year, the firm posted $0.78 EPS. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. research analysts forecast that Newell Brands Inc. will post 2.81 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Wednesday, November 29th. Newell Brands’s dividend payout ratio is presently 35.52%.
Newell Brands announced that its Board of Directors has initiated a share repurchase program on Tuesday, September 26th that authorizes the company to buyback $256.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
In other news, Director Scott S. Cowen acquired 2,000 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were bought at an average price of $43.60 per share, with a total value of $87,200.00. Following the purchase, the director now owns 87,883 shares of the company’s stock, valued at $3,831,698.80. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael B. Polk acquired 5,000 shares of the company’s stock in a transaction dated Wednesday, September 13th. The stock was purchased at an average cost of $43.61 per share, for a total transaction of $218,050.00. Following the purchase, the chief executive officer now directly owns 609,296 shares in the company, valued at approximately $26,571,398.56. The disclosure for this purchase can be found here. Insiders bought a total of 7,100 shares of company stock worth $309,715 in the last three months. Company insiders own 0.97% of the company’s stock.
NWL has been the subject of a number of analyst reports. BidaskClub lowered Newell Brands from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Zacks Investment Research lowered Newell Brands from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. BMO Capital Markets set a $51.00 price objective on Newell Brands and gave the company a “hold” rating in a research report on Saturday, August 5th. Jefferies Group LLC restated a “buy” rating and set a $65.00 price objective (down previously from $66.00) on shares of Newell Brands in a research report on Monday, August 7th. Finally, J P Morgan Chase & Co set a $61.00 price objective on Newell Brands and gave the company a “buy” rating in a research report on Monday, August 7th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $49.57.
Newell Brands Profile
Newell Brands Inc is a marketer of consumer and commercial products. The Company’s segments include Writing, Home Solutions, Commercial Products, Baby & Parenting, Branded Consumables, Consumer Solutions, Outdoor Solutions and Process Solutions. Its products are marketed under a portfolio of brands, including Paper Mate, Sharpie, Dymo, Expo, Parker, Elmer’s, Coleman, Jostens, Marmot, Rawlings, Mr.
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