Canada Pension Plan Investment Board Sells 6,065 Shares of Newell Brands Inc. (NWL)
Canada Pension Plan Investment Board cut its position in Newell Brands Inc. (NYSE:NWL) by 10.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 54,040 shares of the company’s stock after selling 6,065 shares during the period. Canada Pension Plan Investment Board’s holdings in Newell Brands were worth $2,898,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of NWL. Harfst & Associates Inc. bought a new stake in shares of Newell Brands during the first quarter worth approximately $103,000. Israel Discount Bank of New York bought a new stake in shares of Newell Brands during the first quarter worth approximately $112,000. Parallel Advisors LLC increased its stake in shares of Newell Brands by 23.0% in the first quarter. Parallel Advisors LLC now owns 2,906 shares of the company’s stock worth $132,000 after buying an additional 544 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Newell Brands during the first quarter worth approximately $156,000. Finally, CHICAGO TRUST Co NA bought a new stake in shares of Newell Brands during the second quarter worth approximately $204,000. Hedge funds and other institutional investors own 94.87% of the company’s stock.
Shares of Newell Brands Inc. (NYSE:NWL) opened at 48.12 on Friday. The firm has a market cap of $23.58 billion, a PE ratio of 19.22 and a beta of 1.17. Newell Brands Inc. has a 1-year low of $43.43 and a 1-year high of $55.08. The firm’s 50-day moving average price is $51.59 and its 200 day moving average price is $50.23.
Newell Brands (NYSE:NWL) last released its quarterly earnings results on Friday, August 4th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.01. The business had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $3.96 billion. Newell Brands had a net margin of 7.87% and a return on equity of 11.47%. Newell Brands’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 EPS. On average, equities research analysts forecast that Newell Brands Inc. will post $3.12 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.91%. Newell Brands’s dividend payout ratio is currently 36.95%.
WARNING: This piece was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece on another domain, it was illegally copied and reposted in violation of U.S. and international copyright & trademark law. The correct version of this piece can be viewed at https://www.thecerbatgem.com/2017/08/26/canada-pension-plan-investment-board-sells-6065-shares-of-newell-brands-inc-nwl.html.
A number of analysts have recently commented on the company. UBS AG set a $60.00 target price on Newell Brands and gave the stock a “buy” rating in a research note on Tuesday, May 9th. BidaskClub downgraded Newell Brands from a “sell” rating to a “strong sell” rating in a research note on Thursday. Zacks Investment Research upgraded Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research note on Tuesday, August 1st. J P Morgan Chase & Co set a $61.00 target price on Newell Brands and gave the stock a “buy” rating in a research note on Monday, August 7th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $65.00 target price (down previously from $66.00) on shares of Newell Brands in a research note on Monday, August 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Newell Brands has a consensus rating of “Buy” and an average price target of $58.07.
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.
Want to see what other hedge funds are holding NWL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newell Brands Inc. (NYSE:NWL).
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.