Martin & Co. Inc. TN boosted its stake in shares of Newell Brands Inc. (NYSE:NWL) by 0.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,100 shares of the company’s stock after buying an additional 460 shares during the quarter. Newell Brands makes up 1.7% of Martin & Co. Inc. TN’s portfolio, making the stock its 13th largest position. Martin & Co. Inc. TN’s holdings in Newell Brands were worth $5,421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. increased its position in Newell Brands by 3,249.0% during the 1st quarter. BlackRock Inc. now owns 29,974,712 shares of the company’s stock valued at $1,413,905,000 after purchasing an additional 29,079,686 shares during the period. Bank of New York Mellon Corp increased its position in Newell Brands by 112.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,850,876 shares of the company’s stock valued at $742,686,000 after purchasing an additional 7,331,309 shares during the period. Jennison Associates LLC purchased a new position in Newell Brands during the 2nd quarter valued at about $124,839,000. Ameriprise Financial Inc. increased its position in Newell Brands by 28.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,796,439 shares of the company’s stock valued at $417,953,000 after purchasing an additional 1,709,917 shares during the period. Finally, Sentry Investments Corp. increased its position in Newell Brands by 75.7% during the 1st quarter. Sentry Investments Corp. now owns 3,712,271 shares of the company’s stock valued at $175,108,000 after purchasing an additional 1,599,100 shares during the period. Institutional investors own 92.36% of the company’s stock.
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A number of research analysts have commented on the stock. Jefferies Group LLC reissued a “buy” rating and set a $66.00 target price (up previously from $65.00) on shares of Newell Brands in a research report on Thursday, July 6th. BidaskClub raised shares of Newell Brands from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Zacks Investment Research downgraded shares of Newell Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. J P Morgan Chase & Co set a $61.00 target price on shares of Newell Brands and gave the company a “buy” rating in a research report on Monday, August 7th. Finally, BMO Capital Markets set a $51.00 target price on shares of Newell Brands and gave the company a “hold” rating in a research report on Saturday, August 5th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $56.31.
In related news, Director Scott S. Cowen purchased 2,000 shares of the company’s stock in a transaction on Monday, September 11th. The shares were bought at an average cost 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 of the company’s stock, valued at approximately $3,831,698.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael B. Polk purchased 5,000 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was bought at an average price of $43.61 per share, for a total transaction of $218,050.00. Following the completion of the purchase, the chief executive officer now directly owns 609,296 shares of the company’s stock, valued at $26,571,398.56. The disclosure for this purchase can be found here. Insiders acquired 7,100 shares of company stock worth $309,715 over the last quarter. 0.97% of the stock is currently owned by insiders.
Shares of Newell Brands Inc. (NYSE:NWL) traded up 0.457% on Wednesday, hitting $42.885. 2,615,016 shares of the stock were exchanged. Newell Brands Inc. has a 52-week low of $40.88 and a 52-week high of $55.08. The company’s 50 day moving average is $44.57 and its 200-day moving average is $49.39. The stock has a market cap of $21.02 billion, a PE ratio of 17.795 and a beta of 1.15.
Newell Brands (NYSE:NWL) last announced its quarterly earnings results on Friday, August 4th. The company reported $0.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.01. The company had revenue of $4.06 billion for the quarter, compared to analyst estimates of $3.96 billion. Newell Brands had a net margin of 7.87% and a return on equity of 11.47%. The firm’s revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.78 earnings per share. Analysts predict that Newell Brands Inc. will post $3.00 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were paid a $0.23 dividend. The ex-dividend date was Tuesday, August 29th. This represents a $0.92 annualized dividend and a yield of 2.16%. Newell Brands’s dividend payout ratio is currently 36.95%.
Newell Brands declared that its Board of Directors has approved a stock buyback plan on Tuesday, September 26th that authorizes the company to repurchase $256.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.
Newell Brands 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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