Newell Brands Inc. (NWL) Shares Sold by Sentry Investment Management LLC
Sentry Investment Management LLC cut its position in shares of Newell Brands Inc. (NYSE:NWL) by 4.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,992 shares of the company’s stock after selling 1,421 shares during the period. Sentry Investment Management LLC’s holdings in Newell Brands were worth $1,509,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Newell Brands during the fourth quarter worth about $177,070,000. Bank of New York Mellon Corp increased its stake in Newell Brands by 43.2% in the first quarter. Bank of New York Mellon Corp now owns 6,519,567 shares of the company’s stock worth $307,528,000 after buying an additional 1,965,483 shares during the period. Sentry Investments Corp. increased its stake in Newell Brands by 75.7% in the first quarter. Sentry Investments Corp. now owns 3,712,271 shares of the company’s stock worth $175,108,000 after buying an additional 1,599,100 shares during the period. UBS Asset Management Americas Inc. increased its stake in Newell Brands by 74.8% in the first quarter. UBS Asset Management Americas Inc. now owns 3,697,252 shares of the company’s stock worth $174,399,000 after buying an additional 1,581,850 shares during the period. Finally, Fred Alger Management Inc. increased its stake in Newell Brands by 15.9% in the fourth quarter. Fred Alger Management Inc. now owns 7,414,985 shares of the company’s stock worth $331,079,000 after buying an additional 1,020,000 shares during the period. 95.83% of the stock is currently owned by institutional investors and hedge funds.
Newell Brands Inc. (NYSE NWL) traded up 0.48% on Friday, reaching $54.85. 4,564,369 shares of the company’s stock traded hands. The stock has a 50-day moving average of $51.94 and a 200 day moving average of $48.25. Newell Brands Inc. has a 52 week low of $43.43 and a 52 week high of $55.45. The firm has a market capitalization of $26.50 billion, a P/E ratio of 23.28 and a beta of 1.13.
Newell Brands (NYSE:NWL) last posted its quarterly earnings data on Monday, May 8th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. The company had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.23 billion. Newell Brands had a net margin of 7.40% and a return on equity of 11.07%. The business’s quarterly revenue was up 148.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 earnings per share. On average, equities analysts expect that Newell Brands Inc. will post $3.11 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st were paid a dividend of $0.23 per share. The ex-dividend date was Friday, May 26th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.68%. This is a positive change from Newell Brands’s previous quarterly dividend of $0.19. Newell Brands’s dividend payout ratio (DPR) is currently 39.49%.
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NWL has been the subject of a number of research reports. Wells Fargo & Company cut shares of Newell Brands from an “outperform” rating to a “market perform” rating and set a $50.00 price objective for the company. in a report on Monday, May 1st. Zacks Investment Research cut shares of Newell Brands from a “buy” rating to a “hold” rating in a report on Thursday, April 20th. B. Riley restated a “buy” rating and issued a $71.00 price objective on shares of Newell Brands in a report on Friday, April 14th. J P Morgan Chase & Co initiated coverage on shares of Newell Brands in a report on Tuesday, March 21st. They issued an “overweight” rating and a $63.00 price objective for the company. Finally, Royal Bank Of Canada restated a “top pick” rating and issued a $60.00 price objective on shares of Newell Brands in a report on Monday, May 1st. Four investment 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’s stock. The company presently has an average rating of “Buy” and a consensus target price of $57.93.
In other news, Director Thomas E. Clarke sold 5,353 shares of Newell Brands stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $52.49, for a total transaction of $280,978.97. Following the sale, the director now owns 66,286 shares in the company, valued at $3,479,352.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.97% of the company’s stock.
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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