Sumitomo Mitsui Trust Holdings Inc. cut its holdings in Newell Brands Inc (NYSE:NWL) by 3.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,604,024 shares of the company’s stock after selling 51,784 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.38% of Newell Brands worth $30,027,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Amundi Pioneer Asset Management Inc. raised its position in Newell Brands by 18.5% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 292,619 shares of the company’s stock worth $4,488,000 after purchasing an additional 45,706 shares during the period. Boothe Investment Group Inc. raised its stake in shares of Newell Brands by 14.3% in the second quarter. Boothe Investment Group Inc. now owns 252,495 shares of the company’s stock valued at $3,893,000 after acquiring an additional 31,671 shares during the period. Investors Asset Management of Georgia Inc. GA ADV purchased a new position in Newell Brands in the 2nd quarter worth about $350,000. Trilogy Capital Inc. increased its stake in Newell Brands by 12.1% in the 2nd quarter. Trilogy Capital Inc. now owns 31,607 shares of the company’s stock worth $472,000 after buying an additional 3,420 shares during the period. Finally, Xact Kapitalforvaltning AB increased its position in Newell Brands by 15.6% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 91,538 shares of the company’s stock valued at $1,412,000 after purchasing an additional 12,346 shares during the period. 98.42% of the stock is owned by institutional investors.
NWL has been the topic of a number of recent analyst reports. TheStreet upgraded shares of Newell Brands from a “d” rating to a “c-” rating in a report on Friday, November 1st. Morgan Stanley lifted their target price on shares of Newell Brands from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 8th. Barclays restated a “hold” rating on shares of Newell Brands in a research note on Wednesday, August 7th. Zacks Investment Research upgraded shares of Newell Brands from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective for the company in a research note on Wednesday. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Newell Brands in a report on Wednesday, July 31st. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $19.78.
Newell Brands (NYSE:NWL) last issued its quarterly earnings results on Friday, November 1st. The company reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.17. The firm had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.38 billion. Newell Brands had a positive return on equity of 9.55% and a negative net margin of 46.92%. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same period last year, the company earned $0.81 earnings per share. Research analysts predict that Newell Brands Inc will post 1.22 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 4.52%. Newell Brands’s dividend payout ratio is presently 33.45%.
In other Newell Brands news, Director Michael Todman purchased 5,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of $15.76 per share, with a total value of $78,800.00. Following the purchase, the director now owns 72,184 shares in the company, valued at $1,137,619.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.97% of the company’s stock.
Newell Brands Profile
Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. The company's Live segment offers household products, including kitchen appliances, gourmet cookware, bakeware and cutlery, food storage and home storage products, fresh preserving products, and home fragrance products; and baby gear, infant care, and health products primarily under Aprica, Baby Jogger, Ball, Calphalon, Chesapeake Bay Candle, Crock-Pot, FoodSaver, Graco, Mr.
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