Newell Brands (NWL) Position Cut by Swiss National Bank
Swiss National Bank reduced its position in Newell Brands (NYSE:NWL) by 13.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,566,653 shares of the company’s stock after selling 238,200 shares during the period. Swiss National Bank owned about 0.32% of Newell Brands worth $39,918,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. MUFG Americas Holdings Corp lifted its stake in Newell Brands by 566.7% in the 4th quarter. MUFG Americas Holdings Corp now owns 3,380 shares of the company’s stock valued at $104,000 after purchasing an additional 2,873 shares during the last quarter. Cerebellum GP LLC acquired a new stake in Newell Brands during the fourth quarter worth approximately $123,000. Global X Management Co. LLC lifted its position in Newell Brands by 126.3% during the first quarter. Global X Management Co. LLC now owns 7,844 shares of the company’s stock worth $200,000 after acquiring an additional 4,378 shares during the last quarter. FTB Advisors Inc. lifted its position in Newell Brands by 66.9% during the first quarter. FTB Advisors Inc. now owns 8,171 shares of the company’s stock worth $208,000 after acquiring an additional 3,276 shares during the last quarter. Finally, Advisor Partners LLC acquired a new stake in Newell Brands during the first quarter worth approximately $213,000. Institutional investors and hedge funds own 90.50% of the company’s stock.
NWL has been the subject of several research reports. KeyCorp restated a “buy” rating and set a $32.00 price objective (down from $40.00) on shares of Newell Brands in a research report on Monday, January 29th. Barclays restated a “hold” rating and set a $29.00 price objective on shares of Newell Brands in a research report on Sunday. FIX restated a “hold” rating and set a $23.00 price objective on shares of Newell Brands in a research report on Thursday, February 8th. Vetr upgraded shares of Newell Brands from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Tuesday, February 20th. Finally, Jefferies Group restated a “hold” rating and set a $32.00 price objective on shares of Newell Brands in a research report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $31.44.
Newell Brands (NYSE:NWL) last announced its earnings results on Friday, May 4th. The company reported $0.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.08. Newell Brands had a net margin of 14.93% and a return on equity of 10.05%. The company had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same period last year, the firm earned $0.34 earnings per share. The business’s revenue for the quarter was down 7.6% on a year-over-year basis. equities analysts predict that Newell Brands will post 2.66 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Thursday, May 31st will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.49%. Newell Brands’s dividend payout ratio is presently 33.45%.
Newell Brands Company Profile
Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. The company's Live segment offers household products, including kitchen appliances, gourmet cookware, bakeware and cutlery, food storage and home storage products, fresh preserving products, and home fragrance products; and baby gear, infant care, and health products primarily under Aprica, Baby Jogger, Ball, Calphalon, Chesapeake Bay Candle, Crock-Pot, FoodSaver, Graco, Mr.
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