Newell Brands Inc. (NWL) Shares Bought by Optimum Investment Advisors
Optimum Investment Advisors increased its stake in Newell Brands Inc. (NYSE:NWL) by 11.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,885 shares of the company’s stock after purchasing an additional 902 shares during the quarter. Optimum Investment Advisors’ holdings in Newell Brands were worth $476,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Harfst & Associates Inc. bought a new stake in shares of Newell Brands during the 1st quarter worth about $103,000. BDO Wealth Advisors LLC acquired a new stake in shares of Newell Brands in the 2nd quarter worth approximately $107,000. Israel Discount Bank of New York acquired a new stake in shares of Newell Brands in the 1st quarter worth approximately $112,000. Parallel Advisors LLC lifted 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 acquiring an additional 544 shares during the period. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Newell Brands in the first quarter valued at approximately $156,000. 92.36% of the stock is owned by institutional investors and hedge funds.
Newell Brands Inc. (NYSE NWL) traded down 0.09% during midday trading on Tuesday, hitting $42.89. 804,683 shares of the stock were exchanged. Newell Brands Inc. has a one year low of $40.88 and a one year high of $55.08. The firm has a market capitalization of $21.02 billion, a price-to-earnings ratio of 17.13 and a beta of 1.15. The company has a 50 day moving average price of $45.70 and a 200 day moving average price of $49.60.
Newell Brands (NYSE:NWL) last issued its earnings results on Friday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.01. The firm had revenue of $4.06 billion for the quarter, compared to analysts’ expectations 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 quarter last year, the business earned $0.78 earnings per share. Equities analysts anticipate that Newell Brands Inc. will post $3.00 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were paid a $0.23 dividend. The ex-dividend date was Tuesday, August 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.14%. Newell Brands’s dividend payout ratio (DPR) is presently 36.95%.
Newell Brands declared that its Board of Directors has authorized a share repurchase program on Tuesday, September 26th that permits the company to buyback $256.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
A number of equities research analysts have weighed in on NWL shares. BMO Capital Markets set a $51.00 target price on Newell Brands and gave the stock a “hold” rating in a research report on Saturday, August 5th. J P Morgan Chase & Co set a $61.00 price objective on Newell Brands and gave the stock a “buy” rating in a research note on Monday, August 7th. Forward View restated a “buy” rating and issued a $58.00 price objective on shares of Newell Brands in a report on Monday, September 11th. 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 report on Tuesday, August 1st. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $60.00 target price on shares of Newell Brands in a research note on Thursday, June 8th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $56.57.
In other news, CEO Michael B. Polk acquired 5,000 shares of Newell Brands stock in a transaction that occurred on Wednesday, September 13th. The shares were acquired at an average price 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 $26,571,398.56. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Scott S. Cowen acquired 2,000 shares of Newell Brands stock in a transaction that occurred on Monday, September 11th. The shares were purchased at an average cost of $43.60 per share, for a total transaction of $87,200.00. Following 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. Over the last ninety days, insiders bought 7,100 shares of company stock valued at $309,715. 0.97% of the stock is currently owned by company insiders.
About Newell Brands
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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