Huntington National Bank Has $5.98 Million Holdings in Newell Brands Inc (NWL)
Huntington National Bank lessened its position in shares of Newell Brands Inc (NYSE:NWL) by 1.5% in the 4th quarter, HoldingsChannel reports. The fund owned 193,556 shares of the company’s stock after selling 2,938 shares during the period. Huntington National Bank’s holdings in Newell Brands were worth $5,981,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Public Employees Retirement Association of Colorado grew its holdings in Newell Brands by 5.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 89,491 shares of the company’s stock worth $2,765,000 after acquiring an additional 4,420 shares in the last quarter. Everence Capital Management Inc. grew its holdings in Newell Brands by 77.3% during the 4th quarter. Everence Capital Management Inc. now owns 20,496 shares of the company’s stock worth $633,000 after acquiring an additional 8,939 shares in the last quarter. CI Investments Inc. grew its holdings in Newell Brands by 14.0% during the 4th quarter. CI Investments Inc. now owns 1,976,706 shares of the company’s stock worth $61,080,000 after acquiring an additional 242,306 shares in the last quarter. CI Global Investments Inc. acquired a new position in Newell Brands during the 4th quarter worth approximately $16,300,000. Finally, Aperio Group LLC grew its holdings in Newell Brands by 18.3% during the 4th quarter. Aperio Group LLC now owns 238,454 shares of the company’s stock worth $7,368,000 after acquiring an additional 36,939 shares in the last quarter. Institutional investors own 93.11% of the company’s stock.
Several research firms have commented on NWL. BMO Capital Markets lowered their price target on shares of Newell Brands to $25.00 and set a “market perform” rating for the company in a report on Friday, January 26th. Morgan Stanley lowered their price target on shares of Newell Brands from $54.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, November 3rd. Zacks Investment Research cut shares of Newell Brands from a “hold” rating to a “sell” rating in a report on Monday, January 29th. TheStreet cut shares of Newell Brands from a “b-” rating to a “c+” rating in a report on Tuesday, November 14th. Finally, Bank of America cut shares of Newell Brands from a “buy” rating to a “neutral” rating in a report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $40.06.
Newell Brands announced that its Board of Directors has authorized a stock repurchase program on Thursday, November 2nd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.
In related news, CEO Michael B. Polk acquired 7,000 shares of Newell Brands stock in a transaction dated Monday, November 20th. The stock was acquired at an average price of $28.22 per share, for a total transaction of $197,540.00. Following the transaction, the chief executive officer now owns 616,296 shares of the company’s stock, valued at $17,391,873.12. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.97% of the stock is currently owned by insiders.
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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