Forsta AP Fonden lowered its stake in shares of Newell Brands Inc. (NYSE:NWL) by 32.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 454,111 shares of the company’s stock after selling 213,889 shares during the quarter. Forsta AP Fonden owned about 0.09% of Newell Brands worth $19,377,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. acquired a new position in Newell Brands in the 1st quarter worth approximately $156,000. Tudor Investment Corp ET AL acquired a new position in Newell Brands in the 1st quarter worth approximately $386,000. Clearbridge Investments LLC increased its holdings in Newell Brands by 20.1% in the 1st quarter. Clearbridge Investments LLC now owns 4,961 shares of the company’s stock worth $234,000 after buying an additional 831 shares during the period. DnB Asset Management AS increased its holdings in Newell Brands by 2.2% in the 2nd quarter. DnB Asset Management AS now owns 51,153 shares of the company’s stock worth $2,743,000 after buying an additional 1,100 shares during the period. Finally, Glaxis Capital Management LLC acquired a new position in Newell Brands in the 2nd quarter worth approximately $536,000. Hedge funds and other institutional investors own 92.24% of the company’s stock.
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Newell Brands Inc. (NYSE:NWL) traded up $0.76 during midday trading on Friday, reaching $30.77. The company had a trading volume of 18,716,402 shares, compared to its average volume of 6,814,859. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.94 and a current ratio of 1.46. The stock has a market capitalization of $15,080.38, a price-to-earnings ratio of 10.72, a P/E/G ratio of 0.95 and a beta of 1.20.
Newell Brands (NYSE:NWL) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $0.86 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 business’s revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.78 EPS. equities analysts predict that Newell Brands Inc. will post 2.81 EPS for the current fiscal year.
Newell Brands declared that its Board of Directors has approved a share repurchase program on Tuesday, September 26th that allows the company to buyback $256.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
In related news, CEO Michael B. Polk bought 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, for a total transaction of $218,050.00. Following the completion of the transaction, the chief executive officer now directly owns 609,296 shares of the company’s stock, valued at approximately $26,571,398.56. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Scott S. Cowen bought 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 directly owns 87,883 shares of the company’s stock, valued at $3,831,698.80. The disclosure for this purchase can be found here. Insiders acquired 7,100 shares of company stock worth $309,715 in the last 90 days. Company insiders own 0.97% of the company’s stock.
Several equities analysts recently weighed in on the stock. Morgan Stanley cut their price target on shares of Newell Brands from $54.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday. Royal Bank Of Canada reiterated a “top pick” rating and issued a $60.00 price target on shares of Newell Brands in a report on Tuesday, August 29th. Jefferies Group LLC reiterated a “buy” rating and issued a $65.00 price target (down previously from $66.00) on shares of Newell Brands in a report on Monday, August 7th. Zacks Investment Research downgraded shares of Newell Brands from a “hold” rating to a “sell” rating in a report on Tuesday, September 19th. Finally, Forward View reiterated a “buy” rating and issued a $58.00 price target on shares of Newell Brands in a report on Monday, September 11th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. Newell Brands has a consensus rating of “Hold” and an average price target of $52.47.
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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