Newell Brands Inc. (NWL) Holdings Cut by MML Investors Services LLC
MML Investors Services LLC lowered its stake in Newell Brands Inc. (NYSE:NWL) by 6.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,746 shares of the company’s stock after selling 343 shares during the period. MML Investors Services LLC’s holdings in Newell Brands were worth $254,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Harfst & Associates Inc. acquired a new stake in shares of Newell Brands during the first quarter worth $103,000. BDO Wealth Advisors LLC purchased a new position in Newell Brands in the 2nd quarter worth $107,000. Israel Discount Bank of New York purchased a new position in Newell Brands in the 1st quarter worth $112,000. Parallel Advisors LLC raised its stake in 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 acquiring an additional 544 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new position in Newell Brands in the 1st quarter worth $156,000. 92.36% of the stock is owned by institutional investors and hedge funds.
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In other Newell Brands news, CEO Michael B. Polk acquired 5,000 shares of Newell Brands stock in a transaction dated Wednesday, September 13th. The stock was acquired at an average cost of $43.61 per share, for a total transaction of $218,050.00. Following the completion of the transaction, the chief executive officer now owns 609,296 shares in the company, valued at approximately $26,571,398.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Scott S. Cowen acquired 2,000 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The stock was acquired at an average cost of $43.60 per share, with a total value of $87,200.00. Following the completion of the acquisition, 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 have purchased a total of 7,100 shares of company stock valued at $309,715 in the last 90 days. Insiders own 0.97% of the company’s stock.
A number of brokerages have recently weighed in on NWL. Zacks Investment Research upgraded Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research note on Tuesday, August 1st. J P Morgan Chase & Co set a $61.00 target price on Newell Brands and gave the company a “buy” rating in a research report on Monday, August 7th. Jefferies Group LLC reiterated a “buy” rating and issued a $65.00 price target (down previously from $66.00) on shares of Newell Brands in a report on Monday, August 7th. BMO Capital Markets set a $51.00 price target on shares of Newell Brands and gave the stock a “hold” rating in a research report on Saturday, August 5th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $60.00 price objective on shares of Newell Brands in a research note on Thursday, June 8th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $56.57.
Newell Brands Inc. (NWL) opened at 42.93 on Tuesday. The firm has a market capitalization of $21.04 billion, a P/E ratio of 17.14 and a beta of 1.15. The stock’s 50 day moving average price is $45.70 and its 200 day moving average price is $49.60. Newell Brands Inc. has a 52 week low of $40.88 and a 52 week high of $55.08.
Newell Brands (NYSE:NWL) last issued its earnings results on Friday, August 4th. The company reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.01. The company had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $3.96 billion. Newell Brands had a return on equity of 11.47% and a net margin of 7.87%. Newell Brands’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 earnings per share. On average, equities analysts expect that Newell Brands Inc. will post $3.00 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $0.92 dividend on an annualized basis and a yield of 2.14%. Newell Brands’s dividend payout ratio is currently 36.95%.
Newell Brands declared that its board has initiated a stock buyback program on Tuesday, September 26th that allows the company to repurchase $256.00 million in shares. This repurchase authorization allows the company to buy up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
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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