Schwab Charles Investment Management Inc. lifted its holdings in Newell Brands Inc (NYSE:NWL) by 6.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,678,268 shares of the company’s stock after acquiring an additional 97,943 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Newell Brands were worth $51,859,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also bought and sold shares of NWL. Parkside Investments LLC bought a new position in shares of Newell Brands in the 3rd quarter worth about $107,000. BB&T Investment Services Inc. bought a new stake in Newell Brands in the 2nd quarter valued at about $143,000. WINTON GROUP Ltd bought a new stake in Newell Brands in the 2nd quarter valued at about $202,000. Belpointe Asset Management LLC bought a new stake in Newell Brands in the 3rd quarter valued at about $226,000. Finally, Zions Bancorporation increased its position in Newell Brands by 72.6% in the 3rd quarter. Zions Bancorporation now owns 5,588 shares of the company’s stock valued at $238,000 after buying an additional 2,350 shares in the last quarter. 93.11% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently commented on NWL shares. Raymond James Financial reaffirmed a “market perform” rating on shares of Newell Brands in a research report on Friday, November 3rd. Jefferies Group reaffirmed a “hold” rating and issued a $47.00 target price on shares of Newell Brands in a research report on Thursday, October 19th. Morgan Stanley decreased their target price on Newell Brands from $54.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, November 3rd. Forward View reaffirmed a “buy” rating and issued a $35.00 target price on shares of Newell Brands in a research report on Sunday, November 5th. Finally, Zacks Investment Research lowered Newell Brands from a “hold” rating to a “sell” rating in a research report on Monday, January 29th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company’s stock. Newell Brands presently has an average rating of “Hold” and an average target price of $40.06.
Newell Brands declared that its board has initiated a share repurchase plan on Thursday, November 2nd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.
In related news, CEO Michael B. Polk purchased 7,000 shares of the business’s stock in a transaction on Monday, November 20th. The stock was acquired at an average price of $28.22 per share, for a total transaction of $197,540.00. Following the purchase, the chief executive officer now owns 616,296 shares of the company’s stock, valued at $17,391,873.12. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.97% of the stock is currently owned by insiders.
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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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