Prudential PLC Has $120.41 Million Holdings in Newell Brands Inc. (NWL)
Prudential PLC raised its position in Newell Brands Inc. (NYSE:NWL) by 24.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,245,600 shares of the company’s stock after purchasing an additional 435,400 shares during the period. Prudential PLC owned 0.46% of Newell Brands worth $120,409,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Newell Brands by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 47,877,545 shares of the company’s stock valued at $2,567,193,000 after purchasing an additional 1,305,820 shares in the last quarter. Capital World Investors lifted its position in shares of Newell Brands by 2.0% during the 2nd quarter. Capital World Investors now owns 31,195,887 shares of the company’s stock worth $1,672,723,000 after purchasing an additional 610,973 shares during the last quarter. BlackRock Inc. lifted its position in shares of Newell Brands by 1.8% during the 2nd quarter. BlackRock Inc. now owns 30,518,491 shares of the company’s stock worth $1,636,402,000 after purchasing an additional 543,779 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Newell Brands by 112.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,850,876 shares of the company’s stock worth $742,686,000 after purchasing an additional 7,331,309 shares during the last quarter. Finally, FMR LLC lifted its position in shares of Newell Brands by 0.5% during the 2nd quarter. FMR LLC now owns 11,462,512 shares of the company’s stock worth $614,621,000 after purchasing an additional 52,553 shares during the last quarter. 92.36% of the stock is currently owned by institutional investors.
Newell Brands Inc. (NYSE NWL) traded up 0.28% during midday trading on Tuesday, hitting $43.05. The stock had a trading volume of 1,744,423 shares. The company has a market cap of $21.10 billion, a price-to-earnings ratio of 17.19 and a beta of 1.15. Newell Brands Inc. has a 12-month low of $40.88 and a 12-month high of $55.08. 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, 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 business had revenue of $4.06 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same quarter in the prior year, the business posted $0.78 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities analysts anticipate that Newell Brands Inc. will post $3.00 EPS for the current year.
Newell Brands declared that its Board of Directors has initiated a stock buyback program on Tuesday, September 26th that permits the company to buyback $256.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were paid a $0.23 dividend. 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 (DPR) is 36.95%.
A number of analysts have weighed in on NWL shares. BMO Capital Markets set a $51.00 price target on Newell Brands and gave the company a “hold” rating in a research note on Saturday, August 5th. J P Morgan Chase & Co set a $61.00 price target on Newell Brands and gave the stock a “buy” rating in a report on Monday, August 7th. Forward View reaffirmed a “buy” rating and set a $58.00 price objective on shares of Newell Brands in a research report on Monday, September 11th. Zacks Investment Research raised Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research report on Tuesday, August 1st. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $60.00 price objective on shares of Newell Brands in a report on Thursday, June 8th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $56.57.
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In other news, Director Scott S. Cowen bought 2,000 shares of Newell Brands stock in a transaction on Monday, September 11th. The shares were bought at an average price of $43.60 per share, with a total value of $87,200.00. Following the acquisition, the director now directly owns 87,883 shares in the company, valued at approximately $3,831,698.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael B. Polk bought 5,000 shares of Newell Brands stock in a transaction on Wednesday, September 13th. The shares were purchased at an average cost of $43.61 per share, for a total transaction of $218,050.00. Following the acquisition, the chief executive officer now owns 609,296 shares in the company, valued at $26,571,398.56. The disclosure for this purchase can be found here. Insiders purchased 7,100 shares of company stock valued at $309,715 over the last quarter. Insiders own 0.97% of the company’s stock.
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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