Newell Brands Inc. (NWL) Stake Increased by Fjarde AP Fonden Fourth Swedish National Pension Fund
Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of Newell Brands Inc. (NYSE:NWL) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 116,357 shares of the company’s stock after acquiring an additional 2,401 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Newell Brands were worth $4,965,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Newell Brands by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 47,877,545 shares of the company’s stock worth $2,567,193,000 after acquiring an additional 1,305,820 shares in the last quarter. Capital World Investors boosted its stake 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 acquiring an additional 610,973 shares in the last quarter. BlackRock Inc. boosted its stake 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 acquiring an additional 543,779 shares in the last quarter. Bank of New York Mellon Corp boosted its stake 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 acquiring an additional 7,331,309 shares in the last quarter. Finally, FMR LLC boosted its stake 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 acquiring an additional 52,553 shares in the last quarter. Institutional investors own 91.42% of the company’s stock.
NWL has been the subject of several research analyst reports. Raymond James Financial, Inc. reissued a “market perform” rating on shares of Newell Brands in a research report on Friday, November 3rd. Jefferies Group LLC reissued a “hold” rating and set a $47.00 price objective on shares of Newell Brands in a research report on Thursday, October 19th. Morgan Stanley cut their price objective on Newell Brands from $54.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, November 3rd. Forward View reissued a “buy” rating and set a $35.00 price objective on shares of Newell Brands in a research report on Sunday, November 5th. Finally, J P Morgan Chase & Co cut Newell Brands from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $56.00 to $63.00 in a research report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. Newell Brands presently has an average rating of “Hold” and a consensus target price of $49.57.
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Newell Brands Inc. (NYSE:NWL) traded up $0.38 during trading on Friday, reaching $28.56. The company’s stock had a trading volume of 5,642,086 shares, compared to its average volume of 4,601,243. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.86 and a current ratio of 1.46. The firm has a market cap of $13,810.00, a PE ratio of 9.77, a price-to-earnings-growth ratio of 1.13 and a beta of 1.20. Newell Brands Inc. has a 12-month low of $27.45 and a 12-month high of $55.08.
Newell Brands (NYSE:NWL) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.06). The firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.71 billion. Newell Brands had a net margin of 6.37% and a return on equity of 7.53%. The company’s revenue was down 7.0% on a year-over-year basis. During the same period last year, the company earned $0.78 EPS. sell-side analysts expect that Newell Brands Inc. will post 2.81 earnings per share for the current year.
Newell Brands announced that its board has authorized a stock repurchase 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 stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.92 annualized dividend and a yield of 3.22%. Newell Brands’s dividend payout ratio (DPR) is 35.52%.
In related news, Director Scott S. Cowen acquired 2,000 shares of the stock in a transaction dated Monday, September 11th. The shares were bought at an average cost of $43.60 per share, for a total transaction of $87,200.00. Following the purchase, the director now owns 87,883 shares in the company, valued at approximately $3,831,698.80. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael B. Polk acquired 5,000 shares of the stock in a transaction dated Wednesday, September 13th. The stock was bought at an average price of $43.61 per share, for a total transaction of $218,050.00. Following the completion of the purchase, the chief executive officer now owns 609,296 shares in the company, valued at approximately $26,571,398.56. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 7,100 shares of company stock valued at $309,715. 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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