Mackay Shields LLC lowered its stake in Newell Brands Inc (NYSE:NWL) by 4.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 78,608 shares of the company’s stock after selling 3,886 shares during the quarter. Mackay Shields LLC’s holdings in Newell Brands were worth $2,028,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Tufton Capital Management lifted its holdings in Newell Brands by 3.6% in the 2nd quarter. Tufton Capital Management now owns 213,308 shares of the company’s stock valued at $5,501,000 after purchasing an additional 7,438 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Newell Brands by 7.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 107,889 shares of the company’s stock valued at $2,782,000 after purchasing an additional 7,192 shares in the last quarter. Bank of Hawaii lifted its holdings in Newell Brands by 24.5% in the 2nd quarter. Bank of Hawaii now owns 12,940 shares of the company’s stock valued at $334,000 after purchasing an additional 2,550 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in Newell Brands by 24.8% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 392,236 shares of the company’s stock valued at $10,116,000 after purchasing an additional 77,951 shares in the last quarter. Finally, Pzena Investment Management LLC purchased a new position in Newell Brands in the 2nd quarter valued at $427,655,000. 96.84% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have weighed in on NWL shares. Citigroup decreased their price objective on Newell Brands from $36.00 to $29.00 and set a “buy” rating on the stock in a report on Wednesday, August 8th. Bank of America lifted their price target on Newell Brands from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, July 16th. Wells Fargo & Co reiterated a “buy” rating on shares of Newell Brands in a report on Monday, June 11th. ValuEngine lowered Newell Brands from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. Finally, Jefferies Financial Group reduced their price target on Newell Brands from $29.00 to $23.00 and set a “hold” rating on the stock in a report on Wednesday, August 8th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $29.24.

In related news, CEO Michael B. Polk acquired 10,000 shares of Newell Brands stock in a transaction that occurred on Monday, August 13th. The shares were purchased at an average cost of $20.63 per share, for a total transaction of $206,300.00. Following the acquisition, the chief executive officer now owns 941,951 shares in the company, valued at $19,432,449.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Craigie acquired 11,500 shares of Newell Brands stock in a transaction that occurred on Wednesday, August 8th. The stock was bought at an average price of $21.33 per share, for a total transaction of $245,295.00. Following the completion of the acquisition, the director now owns 14,081 shares in the company, valued at approximately $300,347.73. The disclosure for this purchase can be found here. 0.97% of the stock is currently owned by insiders.

NYSE NWL opened at $21.68 on Friday. Newell Brands Inc has a 52 week low of $20.21 and a 52 week high of $49.24. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.74 and a current ratio of 3.17. The firm has a market cap of $10.30 billion, a PE ratio of 7.88, a P/E/G ratio of 4.05 and a beta of 0.73.

Newell Brands (NYSE:NWL) last issued its quarterly earnings data on Monday, August 6th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.04. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $3.83 billion. Newell Brands had a net margin of 16.39% and a return on equity of 9.58%. Newell Brands’s revenue was down 12.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.87 EPS. sell-side analysts expect that Newell Brands Inc will post 0.88 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 31st will be issued a $0.23 dividend. The ex-dividend date is Thursday, August 30th. This represents a $0.92 annualized dividend and a yield of 4.24%. Newell Brands’s dividend payout ratio (DPR) is currently 33.45%.

Newell Brands announced that its Board of Directors has initiated a stock repurchase plan on Monday, June 11th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 19.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Newell Brands Company Profile

Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. The company's Live segment offers household products, including kitchen appliances, gourmet cookware, bakeware and cutlery, food storage and home storage products, fresh preserving products, and home fragrance products; and baby gear, infant care, and health products primarily under Aprica, Baby Jogger, Ball, Calphalon, Chesapeake Bay Candle, Crock-Pot, FoodSaver, Graco, Mr.

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Institutional Ownership by Quarter for Newell Brands (NYSE:NWL)

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