Nationwide Fund Advisors Sells 26,303 Shares of Newell Brands Inc. (NWL)
Nationwide Fund Advisors lowered its holdings in Newell Brands Inc. (NYSE:NWL) by 5.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 434,324 shares of the company’s stock after selling 26,303 shares during the period. Nationwide Fund Advisors owned about 0.09% of Newell Brands worth $23,288,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in NWL. Harfst & Associates Inc. acquired a new position in shares of Newell Brands in the 1st quarter worth approximately $103,000. BDO Wealth Advisors LLC acquired a new position in shares of Newell Brands in the 2nd quarter worth approximately $107,000. Israel Discount Bank of New York acquired a new position in shares of Newell Brands in the 1st quarter worth approximately $112,000. Parallel Advisors LLC grew its stake in shares of Newell Brands by 23.0% in the 1st quarter. Parallel Advisors LLC now owns 2,906 shares of the company’s stock worth $132,000 after purchasing an additional 544 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of Newell Brands in the 1st quarter worth approximately $156,000. 92.36% of the stock is currently owned by institutional investors.
Newell Brands Inc. (NWL) opened at 43.20 on Monday. The stock has a market capitalization of $21.17 billion, a P/E ratio of 17.25 and a beta of 1.19. The stock has a 50 day moving average of $48.67 and a 200 day moving average of $50.12. Newell Brands Inc. has a 52-week low of $42.81 and a 52-week high of $55.08.
Newell Brands (NYSE:NWL) last announced 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 period last year, the company posted $0.78 EPS. On average, equities research analysts forecast that Newell Brands Inc. will post $3.00 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were given a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.13%. Newell Brands’s dividend payout ratio is 36.95%.
Several equities analysts have recently issued reports on NWL shares. BMO Capital Markets set a $51.00 price objective on shares of Newell Brands and gave the stock a “hold” rating in a research note on Saturday, August 5th. J P Morgan Chase & Co set a $61.00 price objective on shares of Newell Brands and gave the stock a “buy” rating in a research note on Monday, August 7th. Forward View reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Newell Brands in a research note on Monday, September 11th. Zacks Investment Research raised shares of Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research note on Tuesday, August 1st. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Newell Brands in a research note on Thursday, June 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $57.36.
In other news, Director Scott S. Cowen purchased 2,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 87,883 shares of the company’s stock, valued at approximately $3,831,698.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael B. Polk purchased 5,000 shares of the business’s stock in a transaction that occurred 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 transaction, 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 purchased a total of 7,046 shares of company stock worth $307,669 over the last quarter. 0.97% of the stock is currently owned by corporate insiders.
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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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