Bank of New York Mellon Corp trimmed its holdings in shares of Newell Brands Inc. (NYSE:NWL) by 3.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,419,099 shares of the company’s stock after selling 431,777 shares during the period. Bank of New York Mellon Corp owned about 2.74% of Newell Brands worth $572,593,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. BDO Wealth Advisors LLC acquired a new position in shares of Newell Brands during the 2nd quarter worth about $107,000. Parkside Investments LLC acquired a new stake in Newell Brands in the 3rd quarter valued at about $107,000. Harfst & Associates Inc. lifted 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 valued at $134,000 after purchasing an additional 315 shares during the last quarter. BB&T Investment Services Inc. acquired a new stake in Newell Brands in the 2nd quarter valued at about $143,000. Finally, Northwestern Mutual Wealth Management Co. lifted 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 valued at $169,000 after purchasing an additional 1,088 shares during the last quarter. Institutional investors own 91.42% of the company’s stock.
Several equities research analysts recently issued reports on NWL shares. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Newell Brands in a research note on Friday, November 3rd. Jefferies Group LLC reiterated a “hold” rating and issued a $47.00 target price on shares of Newell Brands in a research note on Thursday, October 19th. Morgan Stanley cut their target price on shares of Newell Brands from $54.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, November 3rd. Forward View reiterated a “buy” rating and issued a $35.00 target price on shares of Newell Brands in a research note on Sunday, November 5th. Finally, J P Morgan Chase & Co downgraded shares of Newell Brands from an “overweight” rating to a “neutral” rating and raised their target price for the company from $56.00 to $63.00 in a research note on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $49.57.
Shares of Newell Brands Inc. (NYSE NWL) traded down $0.55 during mid-day trading on Tuesday, reaching $27.92. 2,860,914 shares of the company’s stock traded hands, compared to its average volume of 4,552,651. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.46 and a quick ratio of 0.86. The firm has a market capitalization of $13,950.00, a P/E ratio of 10.21, a PEG ratio of 1.03 and a beta of 1.20. Newell Brands Inc. has a 1 year low of $28.11 and a 1 year high of $55.08.
Newell Brands (NYSE:NWL) last issued its quarterly earnings data 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). Newell Brands had a return on equity of 11.52% and a net margin of 8.34%. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same quarter last year, the business earned $0.78 earnings per share. The company’s revenue was down 7.0% on a year-over-year basis. research analysts forecast that Newell Brands Inc. will post 2.81 earnings per share 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 outstanding shares. This buyback authorization allows the company to purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.92 annualized dividend and a dividend yield of 3.30%. Newell Brands’s dividend payout ratio is presently 35.52%.
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In other Newell Brands news, CEO Michael B. Polk bought 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, with a total value 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 $26,571,398.56. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Scott S. Cowen bought 2,000 shares of the stock in a transaction dated Monday, September 11th. The shares were acquired at an average cost of $43.60 per share, for a total transaction of $87,200.00. Following the completion of 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 bought 7,100 shares of company stock worth $309,715 over the last ninety days. Insiders own 0.97% of the company’s stock.
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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