Newell Brands Inc. (NWL) Shares Bought by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Newell Brands Inc. (NYSE:NWL) by 50.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 371,819 shares of the company’s stock after buying an additional 125,238 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Newell Brands were worth $19,937,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Rational Advisors LLC acquired a new stake in Newell Brands during the second quarter valued at about $858,000. Montag & Caldwell LLC acquired a new stake in Newell Brands during the second quarter valued at about $308,000. BTC Capital Management Inc. boosted its stake in Newell Brands by 1.3% in the second quarter. BTC Capital Management Inc. now owns 45,137 shares of the company’s stock valued at $2,421,000 after buying an additional 563 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in Newell Brands by 8.7% in the second quarter. Teacher Retirement System of Texas now owns 5,044 shares of the company’s stock valued at $270,000 after buying an additional 403 shares in the last quarter. Finally, First Trust Advisors LP acquired a new stake in Newell Brands during the second quarter valued at about $5,573,000. Hedge funds and other institutional investors own 94.87% of the company’s stock.
Shares of Newell Brands Inc. (NWL) opened at 50.10 on Tuesday. The company has a market capitalization of $24.55 billion, a price-to-earnings ratio of 20.01 and a beta of 1.17. Newell Brands Inc. has a 1-year low of $43.43 and a 1-year high of $55.08. The stock has a 50 day moving average price of $52.59 and a 200 day moving average price of $50.11.
Newell Brands (NYSE:NWL) last posted its quarterly earnings data on Friday, August 4th. The company reported $0.87 EPS 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 during the quarter, compared to analyst estimates of $3.96 billion. During the same period in the previous year, the business earned $0.78 EPS. Newell Brands’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities analysts anticipate that Newell Brands Inc. will post $3.12 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a dividend of $0.23 per share. The ex-dividend date is Tuesday, August 29th. This represents a $0.92 annualized dividend and a yield of 1.84%. Newell Brands’s dividend payout ratio (DPR) is currently 36.95%.
Several analysts recently issued reports on the company. J P Morgan Chase & Co set a $61.00 target price on Newell Brands and gave the stock a “buy” rating in a research report on Monday, August 7th. Jefferies Group LLC reiterated a “buy” rating and set a $65.00 target price (down previously from $66.00) on shares of Newell Brands in a research report on Monday, August 7th. BMO Capital Markets set a $51.00 target price on Newell Brands and gave the stock a “hold” rating in a research report on Saturday, August 5th. Zacks Investment Research upgraded Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research report on Tuesday, August 1st. Finally, BidaskClub cut Newell Brands from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $58.07.
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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