Fishman Jay A Ltd. MI Purchases 2,350 Shares of Newell Brands Inc. (NWL)
Fishman Jay A Ltd. MI lifted its position in Newell Brands Inc. (NYSE:NWL) by 13.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,600 shares of the company’s stock after acquiring an additional 2,350 shares during the quarter. Fishman Jay A Ltd. MI’s holdings in Newell Brands were worth $836,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Penserra Capital Management LLC raised its holdings in shares of Newell Brands by 1.6% in the second quarter. Penserra Capital Management LLC now owns 4,160 shares of the company’s stock valued at $223,000 after acquiring an additional 66 shares in the last quarter. QS Investors LLC raised its holdings in shares of Newell Brands by 1.1% in the second quarter. QS Investors LLC now owns 6,040 shares of the company’s stock valued at $324,000 after acquiring an additional 68 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Newell Brands by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 35,891 shares of the company’s stock valued at $1,924,000 after acquiring an additional 107 shares in the last quarter. Bellwether Investment Group LLC raised its holdings in shares of Newell Brands by 2.0% in the second quarter. Bellwether Investment Group LLC now owns 5,501 shares of the company’s stock valued at $295,000 after acquiring an additional 110 shares in the last quarter. Finally, Private Advisor Group LLC raised its holdings in shares of Newell Brands by 1.7% in the second quarter. Private Advisor Group LLC now owns 13,503 shares of the company’s stock valued at $721,000 after acquiring an additional 231 shares in the last quarter. Hedge funds and other institutional investors own 92.24% of the company’s stock.
Newell Brands Inc. (NWL) traded up $0.76 on Friday, hitting $30.77. 18,716,402 shares of the stock traded hands, compared to its average volume of 6,814,859. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.46 and a quick ratio of 0.94. The stock has a market cap of $15,080.38, a price-to-earnings ratio of 10.72, a P/E/G ratio of 0.95 and a beta of 1.20.
Newell Brands (NYSE:NWL) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.86 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.06). Newell Brands had a net margin of 8.34% and a return on equity of 11.52%. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same quarter last year, the company earned $0.78 EPS. The business’s revenue was down 7.0% compared to the same quarter last year. sell-side analysts forecast that Newell Brands Inc. will post 2.81 earnings per share for the current fiscal year.
Newell Brands announced that its Board of Directors has approved a share buyback plan on Tuesday, September 26th that permits the company to repurchase $256.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
A number of equities analysts have commented on the stock. Oppenheimer Holdings, Inc. reiterated a “hold” rating and issued a $42.00 target price on shares of Newell Brands in a report on Tuesday, October 31st. Morgan Stanley reduced their target price on shares of Newell Brands from $54.00 to $38.00 and set an “overweight” rating for the company in a report on Friday. Zacks Investment Research upgraded shares of Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a report on Tuesday, August 1st. J P Morgan Chase & Co set a $61.00 target price on shares of Newell Brands and gave the stock a “buy” rating in a report on Monday, August 7th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $65.00 target price (down from $66.00) on shares of Newell Brands in a report on Monday, August 7th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $52.47.
In other news, Director Scott S. Cowen bought 2,000 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were purchased at an average price of $43.60 per share, for a total transaction of $87,200.00. Following the completion of the transaction, the director now directly owns 87,883 shares in the company, valued at $3,831,698.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael B. Polk bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was purchased at an average price of $43.61 per share, for a total transaction of $218,050.00. Following the transaction, the chief executive officer now owns 609,296 shares of the company’s stock, valued at $26,571,398.56. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 7,100 shares of company stock worth $309,715. Corporate insiders own 0.97% of the company’s stock.
Newell Brands 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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