HighTower Advisors LLC increased its stake in shares of Newell Brands Inc. (NYSE:NWL) by 5.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,680 shares of the company’s stock after buying an additional 1,313 shares during the quarter. HighTower Advisors LLC’s holdings in Newell Brands were worth $1,378,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Fifth Third Bancorp grew its stake in Newell Brands by 0.5% during the 1st quarter. Fifth Third Bancorp now owns 7,137 shares of the company’s stock worth $337,000 after buying an additional 39 shares during the last quarter. Cleararc Capital Inc. boosted its position in Newell Brands by 0.5% during the 1st quarter. Cleararc Capital Inc. now owns 10,902 shares of the company’s stock worth $514,000 after acquiring an additional 51 shares during the period. Penserra Capital Management LLC boosted its position in Newell Brands by 1.6% during the 2nd quarter. Penserra Capital Management LLC now owns 4,160 shares of the company’s stock worth $223,000 after acquiring an additional 66 shares during the period. QS Investors LLC boosted its position in Newell Brands by 1.1% during the 2nd quarter. QS Investors LLC now owns 6,040 shares of the company’s stock worth $324,000 after acquiring an additional 68 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Newell Brands by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 35,891 shares of the company’s stock worth $1,924,000 after acquiring an additional 107 shares during the period. Hedge funds and other institutional investors own 92.36% of the company’s stock.
In other news, CEO Michael B. Polk acquired 5,000 shares of Newell Brands stock in a transaction dated Wednesday, September 13th. The stock was bought at an average price of $43.61 per share, for a total transaction of $218,050.00. Following the completion of the acquisition, the chief executive officer now directly owns 609,296 shares in the company, valued at approximately $26,571,398.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Scott S. Cowen acquired 2,000 shares of Newell Brands stock in a transaction dated Monday, September 11th. The shares were purchased at an average price of $43.60 per share, with a total value of $87,200.00. Following the acquisition, the director now owns 87,883 shares of the company’s stock, valued at $3,831,698.80. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 7,100 shares of company stock worth $309,715. Company insiders own 0.97% of the company’s stock.
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Newell Brands (NYSE:NWL) last announced its quarterly earnings results on Friday, August 4th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.01. The firm had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $3.96 billion. Newell Brands had a return on equity of 11.47% and a net margin of 7.87%. The business’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.78 earnings per share. Equities analysts predict that Newell Brands Inc. will post $3.00 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Tuesday, August 29th. Newell Brands’s dividend payout ratio (DPR) is presently 36.95%.
Newell Brands announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, September 26th that authorizes the company to repurchase $256.00 million in shares. This repurchase authorization authorizes the company to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
A number of research analysts have issued reports on the company. Royal Bank Of Canada reiterated a “top pick” rating and set a $60.00 price target on shares of Newell Brands in a research report on Tuesday, August 29th. Jefferies Group LLC reiterated a “buy” rating and set a $66.00 price target (up previously from $65.00) on shares of Newell Brands in a research report on Thursday, July 6th. Zacks Investment Research lowered Newell Brands from a “hold” rating to a “sell” rating in a research report on Tuesday, September 19th. Forward View reiterated a “buy” rating and set a $58.00 price target on shares of Newell Brands in a research report on Monday, September 11th. Finally, BidaskClub lowered Newell Brands from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 24th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Newell Brands presently has an average rating of “Buy” and an average price target of $56.31.
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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