Candriam Luxembourg S.C.A. Acquires 2,120 Shares of Newell Brands Inc. (NWL)
Candriam Luxembourg S.C.A. raised its stake in Newell Brands Inc. (NYSE:NWL) by 7.2% during the second quarter, Holdings Channel reports. The fund owned 31,520 shares of the company’s stock after buying an additional 2,120 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Newell Brands were worth $1,690,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in NWL. First Manhattan Co. raised its stake in Newell Brands by 8.3% in the second quarter. First Manhattan Co. now owns 3,258,922 shares of the company’s stock valued at $174,743,000 after buying an additional 249,456 shares during the last quarter. Whitnell & Co. raised its stake in Newell Brands by 33.2% in the second quarter. Whitnell & Co. now owns 46,678 shares of the company’s stock worth $2,503,000 after buying an additional 11,640 shares during the last quarter. Suffolk Capital Management LLC purchased a new stake in Newell Brands during the second quarter worth $12,543,000. Bessemer Group Inc. raised its stake in Newell Brands by 43.4% in the second quarter. Bessemer Group Inc. now owns 2,944,137 shares of the company’s stock worth $157,864,000 after buying an additional 891,147 shares during the last quarter. Finally, CIBC Asset Management Inc raised its stake in Newell Brands by 1.3% in the second quarter. CIBC Asset Management Inc now owns 48,034 shares of the company’s stock worth $2,576,000 after buying an additional 606 shares during the last quarter. 94.42% of the stock is owned by institutional investors.
Newell Brands Inc. (NYSE NWL) opened at 50.00 on Friday. The company has a market capitalization of $24.21 billion, a P/E ratio of 20.05 and a beta of 1.17. Newell Brands Inc. has a 1-year low of $43.43 and a 1-year high of $55.45. The firm’s 50-day moving average is $52.68 and its 200-day moving average is $50.04.
Newell Brands (NYSE:NWL) last announced its earnings results on Friday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.01. Newell Brands had a net margin of 7.87% and a return on equity of 11.47%. The business had revenue of $4.06 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same quarter in the previous year, the firm posted $0.78 earnings per share. Newell Brands’s revenue was up 5.1% compared to the same quarter last year. Equities research analysts predict that Newell Brands Inc. will post $3.12 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Tuesday, August 29th. Newell Brands’s dividend payout ratio (DPR) is currently 36.95%.
A number of research firms recently weighed in on NWL. Jefferies Group LLC reaffirmed a “buy” rating and set a $66.00 price target (up from $65.00) on shares of Newell Brands in a report on Thursday, July 6th. Zacks Investment Research raised shares of Newell Brands from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a report on Saturday, July 1st. Wells Fargo & Company reaffirmed a “buy” rating on shares of Newell Brands in a report on Saturday, April 22nd. BMO Capital Markets set a $51.00 price target on shares of Newell Brands and gave the company a “hold” rating in a report on Monday, May 8th. Finally, Royal Bank Of Canada reaffirmed a “top pick” rating and set a $60.00 price target on shares of Newell Brands in a report on Monday, May 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Newell Brands currently has a consensus rating of “Buy” and a consensus target price of $58.07.
About Newell Brands
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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