New York State Common Retirement Fund Cuts Position in Newell Brands Inc. (NWL)
New York State Common Retirement Fund reduced its stake in Newell Brands Inc. (NYSE:NWL) by 15.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,245,543 shares of the company’s stock after selling 230,739 shares during the quarter. New York State Common Retirement Fund owned 0.26% of Newell Brands worth $66,786,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of NWL. Harfst & Associates Inc. bought a new stake in Newell Brands in the 1st quarter valued at $103,000. BDO Wealth Advisors LLC bought a new stake in Newell Brands in the 2nd quarter valued at $107,000. Israel Discount Bank of New York bought a new stake in Newell Brands in the 1st quarter valued at $112,000. Parallel Advisors LLC lifted its position in Newell Brands by 23.0% in the 1st quarter. Parallel Advisors LLC now owns 2,906 shares of the company’s stock valued at $132,000 after acquiring an additional 544 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new stake in Newell Brands in the 1st quarter valued at $156,000. 92.36% of the stock is currently owned by institutional investors and hedge funds.
Shares of Newell Brands Inc. (NWL) traded down 0.07% during midday trading on Wednesday, reaching $42.64. 478,090 shares of the company’s stock traded hands. Newell Brands Inc. has a 52-week low of $42.40 and a 52-week high of $55.08. The company has a 50 day moving average of $48.12 and a 200 day moving average of $50.04. The firm has a market cap of $20.90 billion, a PE ratio of 17.03 and a beta of 1.19.
Newell Brands (NYSE:NWL) last released its quarterly earnings data 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. Newell Brands had a net margin of 7.87% and a return on equity of 11.47%. The firm had revenue of $4.06 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same period last year, the firm earned $0.78 earnings per share. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities analysts predict that Newell Brands Inc. will post $3.00 EPS for the current fiscal year.
The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date was Tuesday, August 29th. Newell Brands’s dividend payout ratio (DPR) is 36.95%.
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In other news, CEO Michael B. Polk bought 5,000 shares of the stock in a transaction dated Wednesday, September 13th. The stock was bought at an average price of $43.61 per share, for a total transaction of $218,050.00. Following the completion of the acquisition, the chief executive officer now directly owns 609,296 shares in the company, valued at approximately $26,571,398.56. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Scott S. Cowen bought 2,000 shares of the stock in a transaction dated Monday, September 11th. The stock was purchased at an average price of $43.60 per share, with a total value of $87,200.00. Following the acquisition, the director now owns 87,883 shares of the company’s stock, valued at $3,831,698.80. The disclosure for this purchase can be found here. Insiders acquired 7,046 shares of company stock worth $307,669 over the last ninety days. Insiders own 0.97% of the company’s stock.
Several equities research analysts recently commented on NWL shares. BMO Capital Markets set a $51.00 price objective on shares of Newell Brands and gave the company a “hold” rating in a research report on Saturday, August 5th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating and issued a $50.00 price objective on shares of Newell Brands in a research report on Wednesday, September 6th. BidaskClub cut shares of Newell Brands from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. 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 report on Wednesday, July 12th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Newell Brands in a research report on Thursday, June 8th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Newell Brands currently has an average rating of “Buy” and an average price target of $57.36.
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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