Opus Investment Management Inc. boosted its position in Newell Brands Inc (NYSE:NWL) by 51.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,900 shares of the company’s stock after purchasing an additional 21,500 shares during the period. Opus Investment Management Inc.’s holdings in Newell Brands were worth $1,603,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in Newell Brands by 24.1% during the 1st quarter. BlackRock Inc. now owns 37,418,442 shares of the company’s stock valued at $953,422,000 after buying an additional 7,261,215 shares during the last quarter. Franklin Resources Inc. grew its holdings in Newell Brands by 178.9% during the 4th quarter. Franklin Resources Inc. now owns 7,716,072 shares of the company’s stock valued at $238,427,000 after buying an additional 4,949,143 shares during the last quarter. OppenheimerFunds Inc. grew its holdings in Newell Brands by 211.5% during the 4th quarter. OppenheimerFunds Inc. now owns 5,210,352 shares of the company’s stock valued at $161,001,000 after buying an additional 3,537,489 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Newell Brands by 74.9% during the first quarter. Schwab Charles Investment Management Inc. now owns 2,935,458 shares of the company’s stock worth $74,796,000 after purchasing an additional 1,257,190 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Newell Brands by 99.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 2,031,120 shares of the company’s stock worth $51,407,000 after purchasing an additional 1,012,999 shares during the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.
Shares of Newell Brands stock opened at $26.32 on Monday. Newell Brands Inc has a twelve month low of $23.85 and a twelve month high of $55.08. The firm has a market capitalization of $12.78 billion, a P/E ratio of 9.57, a PEG ratio of 1.60 and a beta of 0.80. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.20 and a current ratio of 1.72.
Newell Brands (NYSE:NWL) last issued its earnings results on Friday, May 4th. The company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.08. Newell Brands had a return on equity of 10.05% and a net margin of 14.93%. The firm had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter last year, the firm earned $0.34 earnings per share. The firm’s revenue for the quarter was down 7.6% compared to the same quarter last year. equities research analysts predict that Newell Brands Inc will post 2.66 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Thursday, May 31st will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.50%. The ex-dividend date is Wednesday, May 30th. Newell Brands’s dividend payout ratio (DPR) is presently 33.45%.
In related news, Director James Craigie acquired 1,000 shares of the business’s stock in a transaction on Friday, May 18th. The shares were bought at an average cost of $26.67 per share, with a total value of $26,670.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.97% of the company’s stock.
NWL has been the topic of several analyst reports. Barclays cut Newell Brands from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $35.00 to $26.00 in a report on Thursday, January 25th. Bank of America cut Newell Brands from a “buy” rating to a “neutral” rating in a report on Thursday, January 25th. Morgan Stanley cut Newell Brands from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $38.00 to $25.00 in a report on Thursday, January 25th. Jefferies Group restated a “hold” rating and set a $32.00 price objective on shares of Newell Brands in a report on Thursday, January 25th. Finally, Royal Bank of Canada cut Newell Brands from an “outperform” rating to a “sector perform” rating in a report on Friday, January 26th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $31.44.
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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