Gabelli Funds LLC Sells 191,500 Shares of Newell Brands Inc (NWL)
Gabelli Funds LLC lessened its holdings in shares of Newell Brands Inc (NYSE:NWL) by 74.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 66,852 shares of the company’s stock after selling 191,500 shares during the quarter. Gabelli Funds LLC’s holdings in Newell Brands were worth $2,066,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also made changes to their positions in the stock. Parkside Investments LLC acquired a new position in Newell Brands during the 3rd quarter valued at about $107,000. Cerebellum GP LLC acquired a new position in Newell Brands during the 4th quarter valued at about $123,000. WINTON GROUP Ltd acquired a new position in Newell Brands during the 2nd quarter valued at about $202,000. Belpointe Asset Management LLC acquired a new position in Newell Brands during the 3rd quarter valued at about $226,000. Finally, Zions Bancorporation boosted its stake in Newell Brands by 72.6% during the 3rd quarter. Zions Bancorporation now owns 5,588 shares of the company’s stock valued at $238,000 after purchasing an additional 2,350 shares during the period. 91.23% of the stock is owned by institutional investors and hedge funds.
A number of research firms have issued reports on NWL. Deutsche Bank began coverage on shares of Newell Brands in a research note on Wednesday, December 13th. They set a “hold” rating and a $32.00 target price for the company. SunTrust Banks reissued a “buy” rating and set a $35.00 target price on shares of Newell Brands in a research note on Tuesday, January 30th. FIX reissued a “hold” rating and set a $23.00 target price on shares of Newell Brands in a research note on Thursday, February 8th. ValuEngine lowered shares of Newell Brands from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Morgan Stanley boosted their target price on shares of Newell Brands from $25.00 to $27.00 and gave the company an “equal weight” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company’s stock. Newell Brands presently has a consensus rating of “Hold” and a consensus price target of $39.18.
Shares of Newell Brands Inc (NYSE NWL) opened at $26.60 on Wednesday. The firm has a market cap of $13,379.73, a P/E ratio of 9.51, a PEG ratio of 1.29 and a beta of 0.90. Newell Brands Inc has a one year low of $23.85 and a one year high of $55.08. The company has a quick ratio of 0.86, a current ratio of 1.46 and a debt-to-equity ratio of 0.80.
Newell Brands announced that its Board of Directors has authorized a share repurchase program on Thursday, November 2nd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
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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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