Highbridge Capital Management LLC Buys 92,940 Shares of Newell Brands Inc. (NWL)
Highbridge Capital Management LLC raised its stake in shares of Newell Brands Inc. (NYSE:NWL) by 92.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 192,940 shares of the company’s stock after purchasing an additional 92,940 shares during the period. Highbridge Capital Management LLC’s holdings in Newell Brands were worth $8,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also added to or reduced their stakes in NWL. Strs Ohio grew its stake in shares of Newell Brands by 3.7% during the second quarter. Strs Ohio now owns 15,544 shares of the company’s stock valued at $833,000 after buying an additional 555 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Newell Brands by 4.6% during the second quarter. Janney Montgomery Scott LLC now owns 17,753 shares of the company’s stock valued at $952,000 after buying an additional 776 shares during the last quarter. IFP Advisors Inc grew its stake in shares of Newell Brands by 5.4% during the second quarter. IFP Advisors Inc now owns 4,789 shares of the company’s stock valued at $257,000 after buying an additional 245 shares during the last quarter. HL Financial Services LLC bought a new position in shares of Newell Brands during the second quarter valued at approximately $225,000. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of Newell Brands by 2.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,464,507 shares of the company’s stock valued at $78,527,000 after buying an additional 37,198 shares during the last quarter. 94.40% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Newell Brands Inc. (NYSE:NWL) traded up $0.31 during midday trading on Tuesday, reaching $31.23. The company’s stock had a trading volume of 1,039,629 shares, compared to its average volume of 4,789,197. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.46 and a quick ratio of 0.86. The company has a market cap of $15,168.60, a PE ratio of 10.78, a PEG ratio of 1.25 and a beta of 1.10. Newell Brands Inc. has a 1-year low of $27.45 and a 1-year high of $55.08.
Newell Brands (NYSE:NWL) last announced its earnings results on Thursday, November 2nd. The company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.06). The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.71 billion. Newell Brands had a net margin of 8.34% and a return on equity of 11.52%. The firm’s revenue was down 7.0% compared to the same quarter last year. During the same period last year, the business posted $0.78 EPS. analysts forecast that Newell Brands Inc. will post 2.81 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, November 29th. This represents a $0.92 annualized dividend and a yield of 2.95%. Newell Brands’s dividend payout ratio (DPR) is presently 35.52%.
Newell Brands announced that its Board of Directors has initiated a stock 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 shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.
NWL has been the topic of a number of analyst reports. Oppenheimer reaffirmed a “hold” rating and set a $50.00 target price on shares of Newell Brands in a research note on Wednesday, September 6th. J P Morgan Chase & Co cut Newell Brands from an “overweight” rating to a “neutral” rating and upped their target price for the company from $56.00 to $63.00 in a research note on Thursday, November 2nd. Jefferies Group reaffirmed a “hold” rating and set a $47.00 target price on shares of Newell Brands in a research note on Thursday, October 19th. Barclays reaffirmed a “buy” rating and set a $35.00 target price on shares of Newell Brands in a research note on Wednesday, December 6th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Newell Brands in a research note on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $47.79.
In related news, CEO Michael B. Polk bought 5,000 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were acquired at an average price of $43.61 per share, with a total value 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael B. Polk bought 7,000 shares of the company’s stock in a transaction on Monday, November 20th. The shares were bought at an average cost of $28.22 per share, for a total transaction of $197,540.00. Following the transaction, the chief executive officer now directly owns 616,296 shares in the company, valued at approximately $17,391,873.12. The disclosure for this purchase can be found here. Insiders have acquired a total of 12,100 shares of company stock worth $420,055 in the last ninety days. Insiders own 0.97% of the company’s stock.
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.
Want to see what other hedge funds are holding NWL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newell Brands Inc. (NYSE:NWL).
Receive News & Ratings for Newell Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newell Brands Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.