Dimensional Fund Advisors LP Buys 16,718 Shares of Newell Brands Inc. (NWL)
Dimensional Fund Advisors LP lifted its stake in Newell Brands Inc. (NYSE:NWL) by 1.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,633,017 shares of the company’s stock after buying an additional 16,718 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.34% of Newell Brands worth $87,553,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of NWL. Harfst & Associates Inc. purchased a new stake in shares of Newell Brands in the first quarter worth about $103,000. BDO Wealth Advisors LLC purchased a new stake in shares of Newell Brands in the second quarter worth about $107,000. Israel Discount Bank of New York purchased a new stake in shares of Newell Brands in the first quarter worth about $112,000. Parallel Advisors LLC boosted its stake in shares of Newell Brands by 23.0% in the first quarter. Parallel Advisors LLC now owns 2,906 shares of the company’s stock worth $132,000 after buying an additional 544 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of Newell Brands in the first quarter worth about $156,000. Hedge funds and other institutional investors own 92.36% of the company’s stock.
In related news, CEO Michael B. Polk acquired 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The stock was purchased at an average cost of $43.61 per share, for a total transaction of $218,050.00. Following the transaction, the chief executive officer now directly owns 609,296 shares of the company’s stock, valued at approximately $26,571,398.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Scott S. Cowen acquired 2,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, 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 bought a total of 7,100 shares of company stock worth $309,715 in the last three months. Corporate insiders own 0.97% of the company’s stock.
A number of analysts have recently commented on NWL shares. Zacks Investment Research upgraded Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research note on Tuesday, August 1st. Royal Bank Of Canada restated a “buy” rating and issued a $60.00 target price on shares of Newell Brands in a research note on Thursday, June 8th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $66.00 price target (up previously from $65.00) on shares of Newell Brands in a report on Thursday, July 6th. BidaskClub raised Newell Brands from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Newell Brands has a consensus rating of “Buy” and a consensus target price of $56.31.
Newell Brands Inc. (NYSE NWL) opened at 43.80 on Friday. The firm has a market cap of $21.47 billion, a PE ratio of 17.49 and a beta of 1.15. The firm’s 50 day moving average price is $45.10 and its 200-day moving average price is $49.47. Newell Brands Inc. has a one year low of $40.88 and a one year high of $55.08.
Newell Brands (NYSE:NWL) last announced its quarterly earnings results on Friday, August 4th. The company reported $0.87 EPS for the quarter, topping the Thomson Reuters’ 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 quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.78 EPS. Equities analysts predict that Newell Brands Inc. will post $3.00 EPS for the current fiscal year.
Newell Brands declared that its Board of Directors has initiated a stock buyback program on Tuesday, September 26th that authorizes the company to buyback $256.00 million in shares. This buyback authorization authorizes the company to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are generally 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. Stockholders of record on Thursday, August 31st were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend was Tuesday, August 29th. Newell Brands’s dividend payout ratio (DPR) is 36.95%.
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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