Wealth Advisors of Tampa Bay LLC Sells 27,222 Shares of Newell Brands Inc (NYSE:NWL)
Wealth Advisors of Tampa Bay LLC lowered its holdings in Newell Brands Inc (NYSE:NWL) by 11.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 213,005 shares of the company’s stock after selling 27,222 shares during the quarter. Newell Brands comprises about 3.3% of Wealth Advisors of Tampa Bay LLC’s investment portfolio, making the stock its largest position. Wealth Advisors of Tampa Bay LLC owned 0.05% of Newell Brands worth $3,987,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the business. Coastal Investment Advisors Inc. lifted its stake in Newell Brands by 218.2% in the second quarter. Coastal Investment Advisors Inc. now owns 1,909 shares of the company’s stock valued at $29,000 after buying an additional 1,309 shares during the period. Westside Investment Management Inc. acquired a new position in Newell Brands in the second quarter valued at about $30,000. Phocas Financial Corp. acquired a new position in Newell Brands in the second quarter valued at about $35,000. Lenox Wealth Advisors LLC acquired a new position in Newell Brands in the third quarter valued at about $35,000. Finally, LifePlan Financial Group Inc acquired a new position in Newell Brands in the second quarter valued at about $40,000. 98.42% of the stock is currently owned by institutional investors.
Shares of Newell Brands stock traded down $0.12 during trading hours on Thursday, hitting $19.96. The company’s stock had a trading volume of 2,121,493 shares, compared to its average volume of 5,641,454. Newell Brands Inc has a 12 month low of $13.04 and a 12 month high of $24.57. The stock has a 50 day moving average of $19.26 and a 200 day moving average of $16.42. The company has a market capitalization of $8.46 billion, a PE ratio of 7.26, a price-to-earnings-growth ratio of 3.82 and a beta of 0.90. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.98 and a quick ratio of 2.53.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.61%. Newell Brands’s payout ratio is presently 33.45%.
Several equities analysts have weighed in on NWL shares. SunTrust Banks raised Newell Brands from a “hold” rating to a “buy” rating and increased their target price for the company from $15.00 to $25.00 in a research note on Monday, September 30th. Wells Fargo & Co reissued a “buy” rating on shares of Newell Brands in a research note on Wednesday, July 31st. Deutsche Bank cut their target price on Newell Brands from $18.00 to $16.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. Morgan Stanley increased their target price on Newell Brands from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 8th. Finally, Zacks Investment Research raised Newell Brands from a “hold” rating to a “strong-buy” rating and set a $21.00 target price on the stock in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Newell Brands presently has a consensus rating of “Hold” and a consensus price target of $19.78.
In other news, Director James Craigie acquired 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was acquired at an average cost of $20.00 per share, for a total transaction of $250,000.00. Following the completion of the acquisition, the director now owns 28,749 shares in the company, valued at $574,980. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.97% of the stock is currently owned by company insiders.
About Newell Brands
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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