Alliancebernstein L.P. Raises Holdings in Newell Brands Inc. (NWL)
Alliancebernstein L.P. grew its stake in shares of Newell Brands Inc. (NYSE:NWL) by 4.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 815,668 shares of the company’s stock after acquiring an additional 34,700 shares during the period. Alliancebernstein L.P. owned 0.17% of Newell Brands worth $43,736,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of NWL. Eaton Vance Management increased its holdings in shares of Newell Brands by 2.1% during the second quarter. Eaton Vance Management now owns 4,055,702 shares of the company’s stock worth $217,467,000 after purchasing an additional 82,184 shares during the period. Bellwether Investment Group LLC increased its holdings in shares of Newell Brands by 2.0% during the second quarter. Bellwether Investment Group LLC now owns 5,501 shares of the company’s stock worth $295,000 after purchasing an additional 110 shares during the period. Sit Investment Associates Inc. increased its holdings in shares of Newell Brands by 727.6% during the second quarter. Sit Investment Associates Inc. now owns 191,175 shares of the company’s stock worth $10,251,000 after purchasing an additional 168,075 shares during the period. Quantbot Technologies LP increased its holdings in shares of Newell Brands by 396.0% during the first quarter. Quantbot Technologies LP now owns 87,695 shares of the company’s stock worth $4,136,000 after purchasing an additional 70,014 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Newell Brands by 10.8% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 961,051 shares of the company’s stock worth $51,532,000 after purchasing an additional 93,400 shares during the period. Hedge funds and other institutional investors own 92.43% of the company’s stock.
Several research analysts have recently commented on the stock. Jefferies Group LLC reaffirmed a “buy” rating and set a $66.00 target price (up from $65.00) on shares of Newell Brands in a report on Thursday, July 6th. Zacks Investment Research raised shares of Newell Brands from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Saturday, July 1st. BidaskClub raised shares of Newell Brands from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $60.00 target price on shares of Newell Brands in a report on Thursday, June 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $57.36.
In other news, Director Scott S. Cowen bought 2,000 shares of the stock in a transaction on 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 purchase, the director now directly owns 87,883 shares of the company’s stock, valued at approximately $3,831,698.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael B. Polk bought 5,000 shares of the stock in a transaction on Wednesday, September 13th. The stock was purchased 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 in the company, valued at $26,571,398.56. The disclosure for this purchase can be found here. Insiders acquired a total of 7,046 shares of company stock worth $307,669 over the last quarter. Corporate insiders own 0.97% of the company’s stock.
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Newell Brands Inc. (NYSE NWL) opened at 43.20 on Friday. Newell Brands Inc. has a 52 week low of $42.81 and a 52 week high of $55.08. The company has a 50-day moving average of $48.67 and a 200-day moving average of $50.12. The company has a market capitalization of $21.17 billion, a PE ratio of 17.25 and a beta of 1.19.
Newell Brands (NYSE:NWL) last posted its earnings results on Friday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.01. Newell Brands had a net margin of 7.87% and a return on equity of 11.47%. The business had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same period in the prior year, the company posted $0.78 EPS. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities research analysts anticipate that Newell Brands Inc. will post $3.00 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.13%. The ex-dividend date was Tuesday, August 29th. Newell Brands’s dividend payout ratio is presently 36.95%.
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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