Palisade Capital Management LLC NJ trimmed its position in shares of Newell Brands Inc. (NYSE:NWL) by 1.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 236,799 shares of the company’s stock after selling 2,321 shares during the quarter. Palisade Capital Management LLC NJ’s holdings in Newell Brands were worth $10,104,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Eaton Vance Management boosted its position in shares of Newell Brands by 2.1% during the second quarter. Eaton Vance Management now owns 4,055,702 shares of the company’s stock worth $217,467,000 after purchasing an additional 82,184 shares in the last quarter. King Luther Capital Management Corp lifted its position in Newell Brands by 1.0% in the 2nd quarter. King Luther Capital Management Corp now owns 3,203,006 shares of the company’s stock valued at $171,745,000 after acquiring an additional 30,576 shares in the last quarter. Bellwether Investment Group LLC lifted its position in Newell Brands by 2.0% in the 2nd quarter. Bellwether Investment Group LLC now owns 5,501 shares of the company’s stock valued at $295,000 after acquiring an additional 110 shares in the last quarter. FMR LLC lifted its position in Newell Brands by 0.5% in the 2nd quarter. FMR LLC now owns 11,462,512 shares of the company’s stock valued at $614,621,000 after acquiring an additional 52,553 shares in the last quarter. Finally, PICTET BANK & TRUST Ltd bought a new stake in Newell Brands in the 2nd quarter valued at $2,102,000. 92.24% of the stock is currently owned by institutional investors.
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In other news, CEO Michael B. Polk acquired 5,000 shares of the stock in a transaction dated Wednesday, September 13th. The shares were bought at an average cost of $43.61 per share, for a total transaction of $218,050.00. Following the purchase, the chief executive officer now directly owns 609,296 shares of the company’s stock, valued at $26,571,398.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott S. Cowen acquired 2,000 shares of the stock in a transaction dated Monday, September 11th. The shares were purchased at an average price of $43.60 per share, for a total transaction of $87,200.00. Following the completion of the purchase, the director now directly owns 87,883 shares in the company, valued at $3,831,698.80. The disclosure for this purchase can be found here. Insiders have bought a total of 7,100 shares of company stock worth $309,715 over the last 90 days. 0.97% of the stock is owned by company insiders.
Newell Brands Inc. (NYSE NWL) traded down $10.23 during trading on Friday, hitting $30.77. 18,716,402 shares of the stock traded hands, compared to its average volume of 6,814,859. The company has a market capitalization of $14.71 billion, a price-to-earnings ratio of 10.46, a price-to-earnings-growth ratio of 0.93 and a beta of 1.20. The company has a current ratio of 1.46, a quick ratio of 0.94 and a debt-to-equity ratio of 0.80.
Newell Brands (NYSE:NWL) last released its quarterly earnings data on Thursday, November 2nd. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.06). The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.71 billion. Newell Brands had a return on equity of 11.52% and a net margin of 8.34%. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.78 earnings per share. equities research analysts predict that Newell Brands Inc. will post 2.8 EPS for the current year.
Newell Brands announced that its Board of Directors has approved a stock repurchase program on Tuesday, September 26th that authorizes the company to buyback $256.00 million in shares. This buyback authorization authorizes the company to reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
Several equities research analysts recently commented on NWL shares. Jefferies Group LLC reaffirmed a “hold” rating and issued a $47.00 price objective on shares of Newell Brands in a research report on Thursday, October 19th. BMO Capital Markets set a $51.00 price objective on shares of Newell Brands and gave the company a “hold” rating in a research report on Saturday, August 5th. J P Morgan Chase & Co set a $61.00 price objective on shares of Newell Brands and gave the company a “buy” rating in a research report on Monday, August 7th. Forward View reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Newell Brands in a research report on Monday, September 11th. Finally, BidaskClub cut shares of Newell Brands from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 24th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $52.47.
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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