First Manhattan Co. increased its position in Newell Brands Inc. (NYSE:NWL) by 12.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 3,649,938 shares of the company’s stock after purchasing an additional 394,123 shares during the period. Newell Brands comprises about 0.9% of First Manhattan Co.’s investment portfolio, making the stock its 19th biggest holding. First Manhattan Co. owned 0.74% of Newell Brands worth $155,742,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. BDO Wealth Advisors LLC acquired a new position in Newell Brands in the 2nd quarter worth approximately $107,000. Harfst & Associates Inc. boosted its stake in Newell Brands by 14.4% in the 2nd quarter. Harfst & Associates Inc. now owns 2,502 shares of the company’s stock worth $134,000 after purchasing an additional 315 shares during the period. BB&T Investment Services Inc. acquired a new position in Newell Brands in the 2nd quarter worth approximately $143,000. Oppenheimer Asset Management Inc. acquired a new position in Newell Brands in the 1st quarter worth approximately $156,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Newell Brands by 52.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,164 shares of the company’s stock worth $169,000 after purchasing an additional 1,088 shares during the period. 92.24% of the stock is owned by hedge funds and other institutional investors.
NWL has been the subject of a number of recent analyst reports. BidaskClub raised shares of Newell Brands from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $66.00 price objective (up previously from $65.00) on shares of Newell Brands in a research note on Thursday, July 6th. Zacks Investment Research lowered shares of Newell Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. 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, 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. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the company. Newell Brands has an average rating of “Buy” and an average target price of $56.38.
Shares of Newell Brands Inc. (NYSE:NWL) traded up 0.87% during midday trading on Monday, hitting $40.35. 631,436 shares of the company’s stock were exchanged. The firm has a market cap of $19.78 billion, a price-to-earnings ratio of 16.11 and a beta of 1.15. Newell Brands Inc. has a 52 week low of $39.58 and a 52 week high of $55.08. The company has a 50-day moving average of $42.28 and a 200-day moving average of $48.83.
Newell Brands (NYSE:NWL) last released its quarterly earnings results on Friday, August 4th. The company reported $0.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.01. The company had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $3.96 billion. Newell Brands had a net margin of 7.87% and a return on equity of 11.47%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.78 earnings per share. Equities research analysts expect that Newell Brands Inc. will post $3.00 EPS for the current fiscal year.
Newell Brands declared that its Board of Directors has approved a stock buyback program on Tuesday, September 26th that allows the company to buyback $256.00 million in shares. This buyback authorization allows the company to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
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In other Newell Brands news, CEO Michael B. Polk bought 5,000 shares of Newell Brands stock in a transaction that occurred on Wednesday, September 13th. The stock was acquired 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 owns 609,296 shares of the company’s stock, valued at approximately $26,571,398.56. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Scott S. Cowen bought 2,000 shares of Newell Brands stock in a transaction that occurred on Monday, September 11th. The shares were acquired at an average price of $43.60 per share, with a total value of $87,200.00. Following the acquisition, the director now directly owns 87,883 shares of the company’s stock, valued at approximately $3,831,698.80. The disclosure for this purchase can be found here. Insiders have purchased 7,100 shares of company stock valued at $309,715 in the last 90 days. 0.97% of the stock is currently owned by corporate insiders.
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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