Cigna Investments Inc. New Lowers Position in Newell Brands Inc. (NWL)
Cigna Investments Inc. New lowered its stake in shares of Newell Brands Inc. (NYSE:NWL) by 5.1% during the second quarter, Holdings Channel reports. The fund owned 18,547 shares of the company’s stock after selling 998 shares during the period. Cigna Investments Inc. New’s holdings in Newell Brands were worth $994,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of NWL. Bank of The West boosted its stake in Newell Brands by 36.4% in the first quarter. Bank of The West now owns 16,139 shares of the company’s stock valued at $761,000 after buying an additional 4,308 shares during the last quarter. DnB Asset Management AS boosted its stake in shares of Newell Brands by 9.9% in the first quarter. DnB Asset Management AS now owns 50,053 shares of the company’s stock worth $2,361,000 after buying an additional 4,500 shares in the last quarter. Palisade Capital Management LLC NJ boosted its stake in shares of Newell Brands by 16.8% in the first quarter. Palisade Capital Management LLC NJ now owns 248,849 shares of the company’s stock worth $11,738,000 after buying an additional 35,773 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its stake in shares of Newell Brands by 0.6% in the first quarter. Farmers & Merchants Investments Inc. now owns 64,482 shares of the company’s stock worth $3,042,000 after buying an additional 400 shares in the last quarter. Finally, Regent Investment Management LLC boosted its stake in shares of Newell Brands by 25.1% in the first quarter. Regent Investment Management LLC now owns 18,835 shares of the company’s stock worth $888,000 after buying an additional 3,775 shares in the last quarter. 94.42% of the stock is currently owned by institutional investors and hedge funds.
Newell Brands Inc. (NYSE NWL) opened at 50.20 on Friday. Newell Brands Inc. has a 52-week low of $43.43 and a 52-week high of $55.45. The company has a 50-day moving average price of $52.74 and a 200 day moving average price of $50.02. The company has a market capitalization of $24.31 billion, a PE ratio of 20.13 and a beta of 1.17.
Newell Brands (NYSE:NWL) last announced its earnings results on Friday, August 4th. The company reported $0.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.01. The company had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $3.96 billion. Newell Brands had a net margin of 7.87% and a return on equity of 11.47%. Newell Brands’s revenue was up 5.1% compared to the same quarter last year. During the same period last year, the firm earned $0.78 earnings per share. Equities research analysts anticipate that Newell Brands Inc. will post $3.12 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a $0.23 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $0.92 annualized dividend and a yield of 1.83%. Newell Brands’s dividend payout ratio (DPR) is 36.95%.
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A number of brokerages have recently commented on NWL. Jefferies Group LLC reissued a “buy” rating and issued a $66.00 price target (up from $65.00) on shares of Newell Brands in a research report on Thursday, July 6th. Zacks Investment Research raised Newell Brands from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Saturday, July 1st. BidaskClub raised Newell Brands from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Royal Bank Of Canada reissued a “buy” rating and issued a $60.00 price target on shares of Newell Brands in a research report on Thursday, June 8th. Finally, BMO Capital Markets set a $51.00 price target on Newell Brands and gave the stock a “hold” rating in a research report on Monday, May 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average 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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