First Financial Bank Trust Division Buys New Stake in Newell Brands Inc. (NYSE:NWL)
First Financial Bank Trust Division acquired a new position in shares of Newell Brands Inc. (NYSE:NWL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 38,738 shares of the company’s stock, valued at approximately $2,078,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in Newell Brands by 26.4% in the fourth quarter. AQR Capital Management LLC now owns 46,776 shares of the company’s stock valued at $2,089,000 after buying an additional 9,778 shares during the last quarter. Quadrature Capital Ltd raised its position in Newell Brands by 15.1% in the fourth quarter. Quadrature Capital Ltd now owns 26,354 shares of the company’s stock valued at $1,177,000 after buying an additional 3,466 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in Newell Brands by 9.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,115,402 shares of the company’s stock valued at $94,452,000 after buying an additional 187,725 shares during the last quarter. Teachers Advisors LLC raised its position in shares of Newell Brands by 1.1% in the fourth quarter. Teachers Advisors LLC now owns 2,173,617 shares of the company’s stock valued at $97,052,000 after buying an additional 22,911 shares in the last quarter. Finally, Kentucky Retirement Systems acquired a new position in shares of Newell Brands during the fourth quarter valued at about $1,563,000. 94.28% of the stock is owned by hedge funds and other institutional investors.
Shares of Newell Brands Inc. (NYSE NWL) opened at 50.69 on Monday. The stock has a 50 day moving average price of $53.31 and a 200-day moving average price of $49.86. Newell Brands Inc. has a 52 week low of $43.43 and a 52 week high of $55.45. The stock has a market cap of $24.49 billion, a P/E ratio of 21.52 and a beta of 1.17.
Newell Brands (NYSE:NWL) last issued its earnings results on Friday, August 4th. The company reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.01. The firm had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $3.96 billion. Newell Brands had a net margin of 7.40% and a return on equity of 11.07%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the firm posted $0.78 earnings per share. Equities analysts predict that Newell Brands Inc. will post $3.12 EPS for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: “First Financial Bank Trust Division Buys New Stake in Newell Brands Inc. (NYSE:NWL)” was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece of content on another site, it was stolen and republished in violation of international copyright and trademark law. The legal version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/08/07/38738-shares-in-newell-brands-inc-nysenwl-acquired-by-first-financial-bank-trust-division-updated-updated-updated.html.
Several research analysts recently issued reports on the company. Jefferies Group LLC reaffirmed a “buy” rating and set a $65.00 target price on shares of Newell Brands in a research report on Monday. BMO Capital Markets set a $51.00 target price on Newell Brands and gave the company a “hold” rating in a research report on Saturday. Zacks Investment Research raised Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research report on Tuesday, August 1st. Finally, BidaskClub lowered Newell Brands from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Newell Brands currently has an average rating of “Buy” and a consensus price target of $58.21.
In related news, Director Thomas E. Clarke sold 5,353 shares of the firm’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $52.49, for a total value of $280,978.97. Following the completion of the transaction, the director now owns 66,286 shares of the company’s stock, valued at approximately $3,479,352.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.97% of the company’s stock.
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.
Receive News & Stock Ratings for Newell Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newell Brands Inc. and related stocks with our FREE daily email newsletter.