Moors & Cabot Inc. Raises Position in Newell Brands Inc. (NWL)
Moors & Cabot Inc. increased its holdings in Newell Brands Inc. (NYSE:NWL) by 31.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,038 shares of the company’s stock after acquiring an additional 3,866 shares during the quarter. Moors & Cabot Inc.’s holdings in Newell Brands were worth $859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of the stock. KLCM Advisors Inc. increased its stake in shares of Newell Brands by 2.6% in the 2nd quarter. KLCM Advisors Inc. now owns 138,725 shares of the company’s stock worth $7,438,000 after acquiring an additional 3,470 shares in the last quarter. Cornerstone Capital Management Holdings LLC. increased its stake in shares of Newell Brands by 7.1% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 88,617 shares of the company’s stock worth $4,751,000 after acquiring an additional 5,855 shares in the last quarter. FTB Advisors Inc. increased its stake in shares of Newell Brands by 9.9% in the 2nd quarter. FTB Advisors Inc. now owns 7,788 shares of the company’s stock worth $418,000 after acquiring an additional 700 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Newell Brands by 54.8% in the 2nd quarter. Janus Henderson Group PLC now owns 87,762 shares of the company’s stock worth $4,706,000 after acquiring an additional 31,072 shares in the last quarter. Finally, Prudential PLC increased its stake in shares of Newell Brands by 24.1% in the 2nd quarter. Prudential PLC now owns 2,245,600 shares of the company’s stock worth $120,409,000 after acquiring an additional 435,400 shares in the last quarter. Institutional investors own 92.36% of the company’s stock.
In other news, Director Scott S. Cowen bought 2,000 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were purchased at an average price of $43.60 per share, for a total transaction 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael B. Polk bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was purchased at an average price of $43.61 per share, for a total transaction of $218,050.00. Following the transaction, the chief executive officer now owns 609,296 shares of the company’s stock, valued at $26,571,398.56. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 7,100 shares of company stock worth $309,715. 0.97% of the stock is owned by insiders.
NWL has been the subject of several research reports. Jefferies Group LLC lowered shares of Newell Brands from a “buy” rating to a “hold” rating and decreased their price target for the stock from $63.00 to $49.00 in a research note on Monday, September 11th. Royal Bank Of Canada reiterated a “top pick” rating and issued a $60.00 price target on shares of Newell Brands in a research note on Tuesday, August 29th. Zacks Investment Research lowered shares of Newell Brands from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. BidaskClub lowered shares of Newell Brands from a “buy” rating to a “hold” rating in a research note on Thursday, June 22nd. Finally, Forward View reiterated a “buy” rating and issued a $58.00 price target on shares of Newell Brands in a research note on Monday, September 11th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Newell Brands has an average rating of “Buy” and an average target price of $56.31.
Newell Brands Inc. (NYSE NWL) traded down 0.80% during trading on Monday, hitting $43.55. 987,436 shares of the company were exchanged. The stock has a market capitalization of $21.34 billion, a PE ratio of 17.39 and a beta of 1.15. The firm’s 50 day moving average price is $44.92 and its 200-day moving average price is $49.44. Newell Brands Inc. has a 1-year low of $40.88 and a 1-year 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 firm 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%. Newell Brands’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.78 earnings per share. Equities analysts predict that Newell Brands Inc. will post $3.00 EPS for the current year.
Newell Brands announced that its board has approved a stock buyback program on Tuesday, September 26th that authorizes the company to repurchase $256.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were given 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 2.10%. Newell Brands’s dividend payout ratio is currently 36.95%.
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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