Legal & General Group Plc Acquires 87,921 Shares of Newell Brands Inc. (NWL)
Legal & General Group Plc raised its position in Newell Brands Inc. (NYSE:NWL) by 4.2% during the first quarter, Holdings Channel reports. The institutional investor owned 2,181,316 shares of the company’s stock after buying an additional 87,921 shares during the period. Legal & General Group Plc owned 0.45% of Newell Brands worth $102,895,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Zions Bancorporation boosted its stake in shares of Newell Brands by 1.6% in the fourth quarter. Zions Bancorporation now owns 4,426 shares of the company’s stock worth $198,000 after buying an additional 68 shares in the last quarter. Savant Capital LLC boosted its stake in shares of Newell Brands by 1.9% in the first quarter. Savant Capital LLC now owns 4,868 shares of the company’s stock worth $230,000 after buying an additional 90 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Newell Brands by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,654 shares of the company’s stock worth $1,235,000 after buying an additional 114 shares in the last quarter. FTB Advisors Inc. boosted its stake in shares of Newell Brands by 1.9% in the first quarter. FTB Advisors Inc. now owns 7,088 shares of the company’s stock worth $334,000 after buying an additional 134 shares in the last quarter. Finally, United Asset Strategies Inc. boosted its stake in shares of Newell Brands by 2.8% in the first quarter. United Asset Strategies Inc. now owns 4,887 shares of the company’s stock worth $231,000 after buying an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 95.83% of the company’s stock.
Shares of Newell Brands Inc. (NYSE:NWL) traded up 0.48% during trading on Friday, hitting $54.85. 4,564,369 shares of the stock were exchanged. The stock has a 50-day moving average of $51.94 and a 200 day moving average of $48.25. The stock has a market cap of $26.50 billion, a P/E ratio of 23.28 and a beta of 1.13. Newell Brands Inc. has a 12-month low of $43.43 and a 12-month high of $55.45.
Newell Brands (NYSE:NWL) last issued its quarterly earnings results on Monday, May 8th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.29 by $0.05. Newell Brands had a net margin of 7.40% and a return on equity of 11.07%. The firm had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.23 billion. During the same period in the previous year, the business earned $0.40 earnings per share. Newell Brands’s revenue for the quarter was up 148.4% compared to the same quarter last year. Equities analysts predict that Newell Brands Inc. will post $3.11 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st were given a $0.23 dividend. The ex-dividend date of this dividend was Friday, May 26th. This is a boost from Newell Brands’s previous quarterly dividend of $0.19. This represents a $0.92 annualized dividend and a yield of 1.68%. Newell Brands’s payout ratio is 39.49%.
Several analysts have recently commented on NWL shares. Barclays PLC set a $60.00 target price on shares of Newell Brands and gave the stock a “buy” rating in a research note on Saturday, February 18th. Jefferies Group LLC raised their target price on shares of Newell Brands from $61.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, May 9th. BMO Capital Markets set a $51.00 target price on shares of Newell Brands and gave the stock a “hold” rating in a research note on Monday, May 8th. Zacks Investment Research upgraded shares of Newell Brands from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Tuesday, April 11th. Finally, Wells Fargo & Company restated a “buy” rating on shares of Newell Brands in a research note on Saturday, April 22nd. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $57.93.
In other Newell Brands news, Director Thomas E. Clarke sold 5,353 shares of the business’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $52.49, for a total value of $280,978.97. Following the sale, the director now directly owns 66,286 shares in the company, valued at $3,479,352.14. The sale was disclosed in a document filed with the SEC, which is available 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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