Los Angeles Capital Management & Equity Research Inc. Purchases New Holdings in Newell Brands Inc. (NWL)
Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Newell Brands Inc. (NYSE:NWL) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,512 shares of the company’s stock, valued at approximately $296,000.
A number of other large investors have also recently made changes to their positions in NWL. BlackRock Inc. boosted its holdings in Newell Brands by 3,249.0% in the 1st quarter. BlackRock Inc. now owns 29,974,712 shares of the company’s stock valued at $1,413,905,000 after purchasing an additional 29,079,686 shares during the period. Bank of New York Mellon Corp boosted its holdings in Newell Brands by 112.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,850,876 shares of the company’s stock valued at $742,686,000 after purchasing an additional 7,331,309 shares during the period. Jennison Associates LLC bought a new position in Newell Brands in the 2nd quarter valued at $124,839,000. Sentry Investments Corp. boosted its holdings in Newell Brands by 75.7% in the 1st quarter. Sentry Investments Corp. now owns 3,712,271 shares of the company’s stock valued at $175,108,000 after purchasing an additional 1,599,100 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Newell Brands by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 46,571,725 shares of the company’s stock valued at $2,196,788,000 after purchasing an additional 1,584,954 shares during the period. 92.36% of the stock is owned by hedge funds and other institutional investors.
Newell Brands Inc. (NWL) opened at 41.58 on Thursday. The company has a 50-day moving average of $48.12 and a 200-day moving average of $50.04. Newell Brands Inc. has a 12 month low of $41.25 and a 12 month high of $55.08. The stock has a market cap of $20.38 billion, a PE ratio of 16.61 and a beta of 1.19.
Newell Brands (NYSE:NWL) last released 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. The firm had revenue of $4.06 billion during the quarter, compared to analyst estimates of $3.96 billion. Newell Brands had a net margin of 7.87% and a return on equity of 11.47%. The business’s revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the business earned $0.78 EPS. On average, equities analysts forecast that Newell Brands Inc. will post $3.00 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were issued a $0.23 dividend. The ex-dividend date was Tuesday, August 29th. This represents a $0.92 annualized dividend and a dividend yield of 2.21%. Newell Brands’s dividend payout ratio (DPR) is presently 36.95%.
Newell Brands announced that its board has initiated a stock buyback program on Tuesday, September 26th that permits the company to repurchase $256.00 million in shares. This repurchase authorization permits the company to buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
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In other news, 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, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Michael B. Polk bought 5,000 shares of the stock in a transaction dated Wednesday, September 13th. The stock was purchased at an average price of $43.61 per share, with a total value of $218,050.00. Following the acquisition, the chief executive officer now directly owns 609,296 shares in the company, valued at approximately $26,571,398.56. The disclosure for this purchase can be found here. Insiders bought a total of 7,100 shares of company stock valued at $309,715 in the last 90 days. Company insiders own 0.97% of the company’s stock.
A number of analysts have recently issued reports on NWL shares. Zacks Investment Research raised shares of Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a report on Tuesday, August 1st. Jefferies Group LLC reaffirmed a “buy” rating and set a $65.00 price objective (down from $66.00) on shares of Newell Brands in a report on Monday, August 7th. BidaskClub raised shares of Newell Brands from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $60.00 price objective on shares of Newell Brands in a report on Thursday, June 8th. Finally, 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 report on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Newell Brands has an average rating of “Buy” and an average price target of $56.57.
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.
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