BB&T Investment Services Inc. acquired a new position in shares of Newell Brands Inc. (NYSE:NWL) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,726 shares of the company’s stock, valued at approximately $143,000.
Several other large investors also recently bought and sold shares of NWL. Waldron LP acquired a new stake in shares of Newell Brands during the first quarter worth $206,000. Empire Life Investments Inc. acquired a new stake in shares of Newell Brands during the first quarter worth $13,383,000. Principal Financial Group Inc. lifted its stake in shares of Newell Brands by 0.3% during the first quarter. Principal Financial Group Inc. now owns 730,827 shares of the company’s stock worth $34,473,000 after buying an additional 2,060 shares during the period. Advantus Capital Management Inc lifted its stake in shares of Newell Brands by 0.3% during the first quarter. Advantus Capital Management Inc now owns 48,438 shares of the company’s stock worth $2,285,000 after buying an additional 142 shares during the period. Finally, California Public Employees Retirement System lifted its stake in shares of Newell Brands by 6.7% during the first quarter. California Public Employees Retirement System now owns 965,582 shares of the company’s stock worth $45,547,000 after buying an additional 60,300 shares during the period. Institutional investors and hedge funds own 92.36% of the company’s stock.
In other news, Director Scott S. Cowen acquired 2,000 shares of the business’s stock in a transaction on Monday, September 11th. The stock was bought at an average price of $43.60 per share, for a total transaction of $87,200.00. Following the transaction, the director now owns 87,883 shares in the company, valued at $3,831,698.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael B. Polk acquired 5,000 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were purchased at an average price of $43.61 per share, with a total value of $218,050.00. Following the transaction, 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. In the last 90 days, insiders have acquired 7,100 shares of company stock valued at $309,715. 0.97% of the stock is owned by insiders.
Several research firms have recently commented on NWL. Zacks Investment Research upgraded shares of Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research note on Tuesday, August 1st. J P Morgan Chase & Co set a $61.00 price objective on shares of Newell Brands and gave the stock a “buy” rating in a research note on Monday, August 7th. Jefferies Group LLC reiterated a “buy” rating and set a $65.00 price objective (down from $66.00) on shares of Newell Brands in a research note on Monday, August 7th. BMO Capital Markets set a $51.00 price objective on shares of Newell Brands and gave the stock a “hold” rating in a research note on Saturday, August 5th. Finally, BidaskClub downgraded shares of Newell Brands from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $56.31.
Newell Brands Inc. (NWL) traded down 0.2606% on Friday, reaching $42.6685. 723,539 shares of the company’s stock were exchanged. The company has a market capitalization of $20.91 billion, a P/E ratio of 17.0401 and a beta of 1.15. The firm has a 50-day moving average price of $44.24 and a 200-day moving average price of $49.29. Newell Brands Inc. has a 1-year low of $40.88 and a 1-year high of $55.08.
Newell Brands (NYSE:NWL) last announced its quarterly earnings data on Friday, August 4th. The company reported $0.87 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.01. The company had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $3.96 billion. Newell Brands had a net margin of 7.87% and a return on equity of 11.47%. Newell Brands’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.78 EPS. Equities research analysts expect that Newell Brands Inc. will post $3.00 earnings per share for the current year.
The company also recently disclosed 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. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $0.92 dividend on an annualized basis and a yield of 2.15%. Newell Brands’s payout ratio is currently 36.95%.
Newell Brands declared that its Board of Directors has approved a share buyback program on Tuesday, September 26th that permits the company to buyback $256.00 million in shares. This buyback authorization permits the company to buy up to 1.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.
Newell Brands Company 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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