Forsta AP Fonden Reduces Position in Newell Brands Inc. (NWL)

Forsta AP Fonden lowered its stake in Newell Brands Inc. (NYSE:NWL) by 7.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 668,000 shares of the company’s stock after selling 53,400 shares during the period. Newell Brands accounts for approximately 1.0% of Forsta AP Fonden’s investment portfolio, making the stock its 28th largest position. Forsta AP Fonden owned about 0.14% of Newell Brands worth $35,818,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Harfst & Associates Inc. bought a new position in shares of Newell Brands during the first quarter valued at $103,000. Israel Discount Bank of New York bought a new position in shares of Newell Brands during the first quarter valued at $112,000. Parallel Advisors LLC raised its position in shares of Newell Brands by 23.0% in the first quarter. Parallel Advisors LLC now owns 2,906 shares of the company’s stock valued at $132,000 after buying an additional 544 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Newell Brands during the first quarter valued at $156,000. Finally, Duncker Streett & Co. Inc. bought a new position in shares of Newell Brands during the first quarter valued at $186,000. 94.87% of the stock is owned by institutional investors.

Shares of Newell Brands Inc. (NYSE:NWL) traded down 0.98% during mid-day trading on Friday, reaching $49.66. 2,958,457 shares of the company traded hands. Newell Brands Inc. has a 52-week low of $43.43 and a 52-week high of $55.08. The stock has a market capitalization of $24.34 billion, a PE ratio of 19.83 and a beta of 1.17. The stock’s 50 day moving average is $52.25 and its 200 day moving average is $50.17.

Newell Brands (NYSE:NWL) last posted its earnings results on Friday, August 4th. The company reported $0.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.01. Newell Brands had a net margin of 7.87% and a return on equity of 11.47%. The business had revenue of $4.06 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, analysts anticipate that Newell Brands Inc. will post $3.12 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Tuesday, August 29th. Newell Brands’s payout ratio is 36.95%.

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NWL has been the subject of several recent analyst reports. Royal Bank Of Canada reissued a “buy” rating and set a $60.00 price objective on shares of Newell Brands in a report on Thursday, June 8th. UBS AG set a $60.00 price objective on shares of Newell Brands and gave the stock a “buy” rating in a report on Tuesday, May 9th. Jefferies Group LLC raised their price objective on shares of Newell Brands from $61.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, May 9th. Wells Fargo & Company reissued a “buy” rating on shares of Newell Brands in a report on Saturday, April 22nd. Finally, BidaskClub raised shares of Newell Brands from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $58.07.

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.

Institutional Ownership by Quarter for Newell Brands (NYSE:NWL)

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