Ancora Advisors LLC Purchases Shares of 13,572 Newell Brands Inc (NWL)
Ancora Advisors LLC purchased a new position in shares of Newell Brands Inc (NYSE:NWL) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 13,572 shares of the company’s stock, valued at approximately $276,000.
Other hedge funds also recently added to or reduced their stakes in the company. Morgan Stanley raised its position in shares of Newell Brands by 6.0% during the 2nd quarter. Morgan Stanley now owns 3,354,254 shares of the company’s stock worth $86,507,000 after buying an additional 190,217 shares in the last quarter. Manning & Napier Group LLC raised its position in shares of Newell Brands by 46.0% during the 3rd quarter. Manning & Napier Group LLC now owns 155,902 shares of the company’s stock worth $3,164,000 after buying an additional 49,099 shares in the last quarter. Bank of Montreal Can raised its position in shares of Newell Brands by 14.7% during the 3rd quarter. Bank of Montreal Can now owns 676,711 shares of the company’s stock worth $13,737,000 after buying an additional 86,867 shares in the last quarter. 22NW LP bought a new stake in shares of Newell Brands during the 2nd quarter worth about $4,011,000. Finally, BlueMountain Capital Management LLC bought a new stake in shares of Newell Brands during the 2nd quarter worth about $151,000. Institutional investors own 98.42% of the company’s stock.
In other news, Director Brett Icahn purchased 100,000 shares of the business’s stock in a transaction dated Monday, November 12th. The shares were acquired at an average price of $20.03 per share, for a total transaction of $2,003,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP James L. Cunningham III sold 22,331 shares of the business’s stock in a transaction that occurred on Monday, November 26th. The shares were sold at an average price of $23.45, for a total transaction of $523,661.95. Following the sale, the senior vice president now owns 7,321 shares in the company, valued at approximately $171,677.45. The disclosure for this sale can be found here. 0.97% of the stock is owned by insiders.
Newell Brands (NYSE:NWL) last released its earnings results on Friday, November 2nd. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.55. Newell Brands had a negative net margin of 46.92% and a positive return on equity of 9.55%. The business had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the previous year, the firm earned $0.86 EPS. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, research analysts expect that Newell Brands Inc will post 1.22 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.91%. Newell Brands’s payout ratio is currently 33.45%.
NWL has been the topic of a number of recent analyst reports. Bank of America dropped their price target on shares of Newell Brands from $25.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, October 4th. Citigroup dropped their price target on shares of Newell Brands from $36.00 to $29.00 and set a “buy” rating on the stock in a research report on Wednesday, August 8th. Morgan Stanley set a $23.00 price target on shares of Newell Brands and gave the stock a “hold” rating in a research report on Tuesday, November 6th. Wells Fargo & Co restated a “buy” rating on shares of Newell Brands in a research report on Friday, November 2nd. Finally, Zacks Investment Research restated a “strong sell” rating on shares of Newell Brands in a research report on Wednesday, November 14th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $26.73.
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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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