New York State Common Retirement Fund Sells 181,146 Shares of Newell Brands Inc. (NWL)
New York State Common Retirement Fund trimmed its holdings in shares of Newell Brands Inc. (NYSE:NWL) by 14.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,064,397 shares of the company’s stock after selling 181,146 shares during the period. New York State Common Retirement Fund owned about 0.22% of Newell Brands worth $45,418,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of NWL. Strs Ohio boosted its position in Newell Brands by 3.7% during the second quarter. Strs Ohio now owns 15,544 shares of the company’s stock worth $833,000 after acquiring an additional 555 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Newell Brands by 4.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 17,753 shares of the company’s stock valued at $952,000 after purchasing an additional 776 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its holdings in shares of Newell Brands by 7.2% in the 2nd quarter. Candriam Luxembourg S.C.A. now owns 31,520 shares of the company’s stock valued at $1,690,000 after purchasing an additional 2,120 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of Newell Brands by 5.4% in the 2nd quarter. IFP Advisors Inc now owns 4,789 shares of the company’s stock valued at $257,000 after purchasing an additional 245 shares during the last quarter. Finally, Pictet Asset Management Ltd. boosted its holdings in shares of Newell Brands by 25.0% in the 2nd quarter. Pictet Asset Management Ltd. now owns 352,739 shares of the company’s stock valued at $18,678,000 after purchasing an additional 70,481 shares during the last quarter. 94.40% of the stock is owned by institutional investors and hedge funds.
In other news, Director Scott S. Cowen purchased 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, with a total value of $87,200.00. Following the purchase, the director now directly owns 87,883 shares of the company’s stock, valued at approximately $3,831,698.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael B. Polk purchased 7,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were purchased at an average cost of $28.22 per share, for a total transaction of $197,540.00. Following the purchase, the chief executive officer now directly owns 616,296 shares in the company, valued at $17,391,873.12. The disclosure for this purchase can be found here. In the last three months, insiders bought 14,100 shares of company stock worth $507,255. Insiders own 0.97% of the company’s stock.
A number of equities analysts have weighed in on the stock. Barclays reiterated a “buy” rating and issued a $35.00 price target on shares of Newell Brands in a report on Wednesday. Oppenheimer reiterated a “hold” rating and issued a $50.00 price target on shares of Newell Brands in a report on Wednesday, September 6th. BMO Capital Markets decreased their price target on shares of Newell Brands from $45.00 to $32.00 and set a “market perform” rating on the stock in a report on Tuesday, November 7th. Zacks Investment Research lowered shares of Newell Brands from a “hold” rating to a “sell” rating in a report on Tuesday, September 19th. Finally, BidaskClub lowered shares of Newell Brands from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. Two investment 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. Newell Brands presently has a consensus rating of “Hold” and a consensus target price of $47.79.
Shares of Newell Brands Inc. (NWL) traded up $0.01 during mid-day trading on Thursday, hitting $31.79. 6,442,300 shares of the stock were exchanged, compared to its average volume of 4,781,653. Newell Brands Inc. has a fifty-two week low of $27.45 and a fifty-two week high of $55.08. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.86 and a current ratio of 1.46. The stock has a market cap of $15,575.38, a P/E ratio of 11.07, a PEG ratio of 1.28 and a beta of 1.10.
Newell Brands (NYSE:NWL) last issued its earnings results on Thursday, November 2nd. The company reported $0.86 EPS for the quarter, missing the Zacks’ 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 business had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same period in the prior year, the business posted $0.78 EPS. The business’s revenue was down 7.0% on a year-over-year basis. equities analysts forecast that Newell Brands Inc. will post 2.81 earnings per share for the current fiscal year.
Newell Brands announced that its board has initiated a stock buyback program on Tuesday, September 26th that permits the company to buyback $256.00 million in outstanding shares. This buyback authorization permits the company to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Wednesday, November 29th. Newell Brands’s dividend payout ratio is presently 35.52%.
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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.
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