KLCM Advisors Inc. Boosts Stake in Newell Brands Inc. (NWL)
KLCM Advisors Inc. lifted its position in Newell Brands Inc. (NYSE:NWL) by 2.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 138,725 shares of the company’s stock after purchasing an additional 3,470 shares during the quarter. Newell Brands accounts for about 2.0% of KLCM Advisors Inc.’s holdings, making the stock its 23rd largest holding. KLCM Advisors Inc.’s holdings in Newell Brands were worth $7,438,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Cornerstone Capital Management Holdings LLC. boosted its holdings in shares of Newell Brands by 7.1% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 88,617 shares of the company’s stock worth $4,751,000 after purchasing an additional 5,855 shares in the last quarter. FTB Advisors Inc. boosted its holdings in shares of Newell Brands by 9.9% in the 2nd quarter. FTB Advisors Inc. now owns 7,788 shares of the company’s stock worth $418,000 after purchasing an additional 700 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Newell Brands by 54.8% in the 2nd quarter. Janus Henderson Group PLC now owns 87,762 shares of the company’s stock worth $4,706,000 after purchasing an additional 31,072 shares in the last quarter. Prudential PLC boosted its holdings in shares of Newell Brands by 24.1% in the 2nd quarter. Prudential PLC now owns 2,245,600 shares of the company’s stock worth $120,409,000 after purchasing an additional 435,400 shares in the last quarter. Finally, Fieldpoint Private Securities LLC boosted its holdings in shares of Newell Brands by 680.6% in the 2nd quarter. Fieldpoint Private Securities LLC now owns 23,340 shares of the company’s stock worth $1,251,000 after purchasing an additional 20,350 shares in the last quarter. Hedge funds and other institutional investors own 92.36% of the company’s stock.
A number of research firms have recently issued reports on NWL. BMO Capital Markets reiterated a “market perform” rating and issued a $45.00 price objective (down from $51.00) on shares of Newell Brands in a report on Thursday, September 21st. J P Morgan Chase & Co cut their price objective on Newell Brands from $58.00 to $56.00 and set an “overweight” rating for the company in a report on Thursday, September 21st. Zacks Investment Research cut Newell Brands from a “hold” rating to a “sell” rating in a report on Tuesday, September 19th. Jefferies Group LLC cut Newell Brands from a “buy” rating to a “hold” rating and cut their price objective for the stock from $63.00 to $49.00 in a report on Monday, September 11th. Finally, Forward View reiterated a “buy” rating and issued a $58.00 price objective on shares of Newell Brands in a report on Monday, September 11th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $56.31.
Shares of Newell Brands Inc. (NYSE:NWL) traded up 0.23% during midday trading on Friday, reaching $43.90. The company had a trading volume of 5,990,681 shares. Newell Brands Inc. has a 52 week low of $40.88 and a 52 week high of $55.08. The firm has a market capitalization of $21.52 billion, a price-to-earnings ratio of 17.53 and a beta of 1.15. The stock has a 50-day moving average of $44.92 and a 200 day moving average of $49.44.
Newell Brands (NYSE:NWL) last issued its quarterly earnings data on Friday, August 4th. The company reported $0.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.01. Newell Brands had a return on equity of 11.47% and a net margin of 7.87%. The company had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same period in the previous year, the firm posted $0.78 earnings per share. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, analysts anticipate that Newell Brands Inc. will post $3.00 earnings per share for the current year.
Newell Brands declared that its Board of Directors has initiated a stock buyback plan on Tuesday, September 26th that allows the company to buyback $256.00 million in shares. This buyback authorization allows the company to reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $0.92 annualized dividend and a dividend yield of 2.10%. Newell Brands’s dividend payout ratio (DPR) is presently 36.95%.
In other Newell Brands news, CEO Michael B. Polk bought 5,000 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was acquired at an average price of $43.61 per share, for a total transaction of $218,050.00. Following the completion of the transaction, the chief executive officer now directly 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 can be accessed through this link. Also, Director Scott S. Cowen bought 2,000 shares of the company’s stock in a transaction on Monday, September 11th. The shares were acquired at an average price of $43.60 per share, with a total value of $87,200.00. Following the transaction, the director now directly owns 87,883 shares of the company’s stock, valued at $3,831,698.80. The disclosure for this purchase can be found here. Insiders have acquired 7,100 shares of company stock valued at $309,715 in the last 90 days. Company insiders own 0.97% of the company’s stock.
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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