Newell Brands Inc. (NWL) Shares Sold by Pictet & Cie Europe SA
Pictet & Cie Europe SA cut its stake in Newell Brands Inc. (NYSE:NWL) by 59.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,178 shares of the company’s stock after selling 33,958 shares during the period. Pictet & Cie Europe SA’s holdings in Newell Brands were worth $989,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Eaton Vance Management raised its stake in shares of Newell Brands by 2.1% in the second quarter. Eaton Vance Management now owns 4,055,702 shares of the company’s stock worth $217,467,000 after acquiring an additional 82,184 shares during the last quarter. King Luther Capital Management Corp raised its stake in shares of Newell Brands by 1.0% in the second quarter. King Luther Capital Management Corp now owns 3,203,006 shares of the company’s stock worth $171,745,000 after acquiring an additional 30,576 shares during the last quarter. Whittier Trust Co. raised its stake in shares of Newell Brands by 85.8% in the third quarter. Whittier Trust Co. now owns 10,658 shares of the company’s stock worth $455,000 after acquiring an additional 4,921 shares during the last quarter. First Manhattan Co. raised its stake in shares of Newell Brands by 12.1% in the third quarter. First Manhattan Co. now owns 3,649,938 shares of the company’s stock worth $155,742,000 after acquiring an additional 394,123 shares during the last quarter. Finally, Bellwether Investment Group LLC raised its stake in shares of Newell Brands by 2.0% in the second quarter. Bellwether Investment Group LLC now owns 5,501 shares of the company’s stock worth $295,000 after acquiring an additional 110 shares during the last quarter. 91.42% of the stock is owned by institutional investors.
Newell Brands Inc. (NWL) traded up $0.17 during trading on Friday, hitting $28.18. 7,637,000 shares of the stock traded hands, compared to its average volume of 4,596,539. Newell Brands Inc. has a 12 month low of $27.45 and a 12 month high of $55.08. The firm has a market capitalization of $13,880.00, a PE ratio of 9.76, a PEG ratio of 1.13 and a beta of 1.20. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.46 and a quick ratio of 0.86.
Newell Brands (NYSE:NWL) last announced its earnings results on Thursday, November 2nd. The company reported $0.86 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.06). Newell Brands had a return on equity of 7.53% and a net margin of 6.37%. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the previous year, the company posted $0.78 EPS. The business’s revenue for the quarter was down 7.0% compared to the same quarter last year. equities research analysts forecast that Newell Brands Inc. will post 2.81 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.26%. The ex-dividend date is Wednesday, November 29th. Newell Brands’s payout ratio is 35.52%.
Newell Brands declared that its Board of Directors has authorized a stock buyback plan on Tuesday, September 26th that authorizes the company to repurchase $256.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.
A number of research firms recently weighed in on NWL. Zacks Investment Research raised shares of Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research note on Tuesday, August 1st. J P Morgan Chase & Co set a $61.00 price target on shares of Newell Brands and gave the stock a “buy” rating in a research note on Monday, August 7th. BMO Capital Markets dropped their price target on shares of Newell Brands from $45.00 to $32.00 and set a “market perform” rating for the company in a research note on Tuesday, November 7th. Jefferies Group LLC reissued a “buy” rating and set a $65.00 price target (down from $66.00) on shares of Newell Brands in a research note on Monday, August 7th. Finally, Forward View reissued a “buy” rating and set a $35.00 price target on shares of Newell Brands in a research note on Sunday, November 5th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. Newell Brands has an average rating of “Hold” and an average target price of $49.57.
In other news, Director Scott S. Cowen purchased 2,000 shares of the company’s stock in a transaction on Monday, September 11th. The shares were purchased at an average cost of $43.60 per share, with a total value of $87,200.00. Following the completion of the transaction, the director now owns 87,883 shares of the company’s stock, valued at approximately $3,831,698.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael B. Polk purchased 5,000 shares of the company’s 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 completion of 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 disclosure for this purchase can be found here. Insiders have purchased 7,100 shares of company stock valued at $309,715 in the last 90 days. 0.97% of the stock is currently owned by corporate insiders.
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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