Commerce Bank increased its position in shares of Newell Brands Inc. (NYSE:NWL) by 0.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,163,647 shares of the company’s stock after acquiring an additional 7,684 shares during the quarter. Commerce Bank owned 0.24% of Newell Brands worth $49,653,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. BDO Wealth Advisors LLC acquired a new stake in shares of Newell Brands during the second quarter valued at approximately $107,000. Parkside Investments LLC acquired a new stake in shares of Newell Brands during the third quarter valued at approximately $107,000. Harfst & Associates Inc. raised its holdings in shares of Newell Brands by 14.4% during the second quarter. Harfst & Associates Inc. now owns 2,502 shares of the company’s stock valued at $134,000 after acquiring an additional 315 shares during the period. BB&T Investment Services Inc. acquired a new stake in shares of Newell Brands during the second quarter valued at approximately $143,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Newell Brands by 52.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,164 shares of the company’s stock valued at $169,000 after acquiring an additional 1,088 shares during the period. Institutional investors and hedge funds own 91.42% of the company’s stock.
In other news, Director Scott S. Cowen acquired 2,000 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The stock was acquired at an average cost of $43.60 per share, with a total value of $87,200.00. Following the acquisition, the director now owns 87,883 shares in the company, valued at $3,831,698.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael B. Polk acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were purchased at an average cost of $43.61 per share, with a total value of $218,050.00. Following the completion of the acquisition, the chief executive officer now owns 609,296 shares in the company, valued at approximately $26,571,398.56. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 7,100 shares of company stock valued at $309,715. 0.97% of the stock is owned by insiders.
Shares of Newell Brands Inc. (NYSE NWL) traded up $0.09 on Thursday, hitting $28.11. 2,741,199 shares of the stock traded hands, compared to its average volume of 4,582,781. Newell Brands Inc. has a 52 week low of $27.45 and a 52 week high of $55.08. The firm has a market cap of $13,730.00, a price-to-earnings ratio of 9.77, a price-to-earnings-growth ratio of 1.13 and a beta of 1.20. The company has a current ratio of 1.46, a quick ratio of 0.86 and a debt-to-equity ratio of 0.80.
Newell Brands (NYSE:NWL) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.86 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.06). The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.71 billion. Newell Brands had a return on equity of 11.52% and a net margin of 8.34%. The business’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.78 EPS. research analysts anticipate that Newell Brands Inc. will post 2.81 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend is Wednesday, November 29th. Newell Brands’s dividend payout ratio is currently 35.52%.
Newell Brands announced that its board has initiated a stock buyback program on Tuesday, September 26th that permits the company to buyback $256.00 million in shares. This buyback authorization permits the company to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
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Several research analysts have weighed in on NWL shares. BidaskClub lowered shares of Newell Brands from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Zacks Investment Research lowered shares of Newell Brands from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. BMO Capital Markets set a $51.00 price objective on shares of Newell Brands and gave the company a “hold” rating in a research note on Saturday, August 5th. Jefferies Group LLC reiterated a “buy” rating and issued a $65.00 price objective (down previously from $66.00) on shares of Newell Brands in a research note on Monday, August 7th. Finally, J P Morgan Chase & Co set a $61.00 price objective on shares of Newell Brands and gave the company a “buy” rating in a research note on Monday, August 7th. Two investment 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’s stock. The company has an average rating of “Hold” and an average target price of $49.57.
About Newell Brands
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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