Fieldpoint Private Securities LLC Has $601,000 Holdings in Newell Brands Inc. (NWL)
Fieldpoint Private Securities LLC cut its stake in shares of Newell Brands Inc. (NYSE:NWL) by 39.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,085 shares of the company’s stock after selling 9,255 shares during the period. Fieldpoint Private Securities LLC’s holdings in Newell Brands were worth $601,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Sterling Capital Management LLC raised its stake in shares of Newell Brands by 30.6% during the 3rd quarter. Sterling Capital Management LLC now owns 1,345,010 shares of the company’s stock worth $57,392,000 after buying an additional 314,885 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of Newell Brands by 5.2% during the 3rd quarter. California Public Employees Retirement System now owns 1,036,291 shares of the company’s stock worth $44,219,000 after buying an additional 50,809 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Newell Brands by 14.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 20,319 shares of the company’s stock worth $867,000 after buying an additional 2,566 shares in the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of Newell Brands by 916.7% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 192,468 shares of the company’s stock worth $8,213,000 after buying an additional 173,538 shares in the last quarter. Finally, Highbridge Capital Management LLC raised its stake in shares of Newell Brands by 92.9% during the 3rd quarter. Highbridge Capital Management LLC now owns 192,940 shares of the company’s stock worth $8,233,000 after buying an additional 92,940 shares in the last quarter. 94.40% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on the company. Oppenheimer reissued a “hold” rating and set a $50.00 target price on shares of Newell Brands in a research note on Wednesday, September 6th. BidaskClub downgraded Newell Brands from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. Royal Bank of Canada reissued a “top pick” rating and set a $60.00 target price on shares of Newell Brands in a research note on Tuesday, August 29th. Jefferies Group cut their target price on Newell Brands from $65.00 to $63.00 and set a “buy” rating for the company in a research note on Thursday, September 7th. They noted that the move was a valuation call. Finally, Forward View reissued a “buy” rating and set a $58.00 target price on shares of Newell Brands in a research note on Monday, September 11th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. Newell Brands has an average rating of “Hold” and an average price target of $47.79.
Newell Brands (NYSE:NWL) last released its quarterly earnings results on Thursday, November 2nd. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.71 billion. Newell Brands had a return on equity of 11.52% and a net margin of 8.34%. The business’s revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.78 EPS. equities analysts expect that Newell Brands Inc. will post 2.81 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date is Wednesday, November 29th. Newell Brands’s dividend payout ratio is currently 35.52%.
Newell Brands announced that its Board of Directors has approved a share repurchase plan on Tuesday, September 26th that authorizes the company to buyback $256.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
In other news, CEO Michael B. Polk purchased 7,000 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were acquired at an average price of $28.22 per share, for a total transaction of $197,540.00. Following the acquisition, the chief executive officer now directly owns 616,296 shares in the company, valued at approximately $17,391,873.12. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.97% of the company’s stock.
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Newell Brands Company Profile
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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