Global Financial Private Capital LLC Sells 23 Shares of Newell Brands Inc. (NWL)
Global Financial Private Capital LLC decreased its position in shares of Newell Brands Inc. (NYSE:NWL) by 0.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,238 shares of the company’s stock after selling 23 shares during the quarter. Global Financial Private Capital LLC’s holdings in Newell Brands were worth $227,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. BDO Wealth Advisors LLC acquired a new position in shares of Newell Brands during the 2nd quarter valued at about $107,000. Harfst & Associates Inc. acquired a new position in shares of Newell Brands during the 1st quarter valued at about $103,000. Israel Discount Bank of New York acquired a new position in shares of Newell Brands during the 1st quarter valued at about $112,000. Parallel Advisors LLC boosted its position in shares of Newell Brands by 23.0% during 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 during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Newell Brands by 52.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,164 shares of the company’s stock valued at $169,000 after acquiring an additional 1,088 shares during the last quarter. 92.36% of the stock is currently owned by hedge funds and other institutional investors.
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Several research analysts have recently weighed in on the stock. Royal Bank Of Canada reissued a “top pick” rating and set a $60.00 price target on shares of Newell Brands in a research report on Tuesday, August 29th. Jefferies Group LLC reissued a “buy” rating and set a $66.00 price target (up previously from $65.00) on shares of Newell Brands in a research 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 price target on the stock in a research report on Saturday, July 1st. Forward View reissued a “buy” rating and set a $58.00 price target on shares of Newell Brands in a research report on Monday, September 11th. Finally, BidaskClub cut shares of Newell Brands from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 24th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $56.57.
In other news, CEO Michael B. Polk acquired 5,000 shares of Newell Brands stock in a transaction dated Wednesday, September 13th. The shares were acquired at an average cost of $43.61 per share, with a total value of $218,050.00. Following the purchase, the chief executive officer now directly owns 609,296 shares of the company’s stock, valued at approximately $26,571,398.56. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Scott S. Cowen acquired 2,000 shares of Newell Brands stock in a transaction dated Monday, September 11th. The stock was purchased at an average cost of $43.60 per share, for a total transaction of $87,200.00. Following the completion of the purchase, the director now directly owns 87,883 shares in the company, valued at $3,831,698.80. The disclosure for this purchase can be found here. Insiders bought a total of 7,100 shares of company stock worth $309,715 over the last ninety days. Corporate insiders own 0.97% of the company’s stock.
Shares of Newell Brands Inc. (NYSE NWL) traded up 0.02% during mid-day trading on Thursday, hitting $41.59. 195,455 shares of the stock traded hands. The stock has a 50 day moving average price of $48.12 and a 200-day moving average price of $50.04. The company has a market cap of $20.38 billion, a P/E ratio of 16.61 and a beta of 1.19. Newell Brands Inc. has a one year low of $41.25 and a one year high of $55.08.
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 the consensus estimate of $0.86 by $0.01. The business had revenue of $4.06 billion for the quarter, compared to analyst estimates of $3.96 billion. Newell Brands had a return on equity of 11.47% and a net margin of 7.87%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.78 EPS. On average, analysts forecast that Newell Brands Inc. will post $3.00 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Tuesday, August 29th. Newell Brands’s dividend payout ratio is currently 36.95%.
Newell Brands declared that its board has authorized a stock repurchase plan on Tuesday, September 26th that permits the company to repurchase $256.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
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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