Newell Brands Inc. (NWL) Shares Sold by Stifel Financial Corp
Stifel Financial Corp trimmed its holdings in Newell Brands Inc. (NYSE:NWL) by 4.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 280,524 shares of the company’s stock after selling 12,035 shares during the quarter. Stifel Financial Corp owned about 0.06% of Newell Brands worth $15,032,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in NWL. BlackRock Inc. boosted its holdings in Newell Brands by 3,249.0% in the first quarter. BlackRock Inc. now owns 29,974,712 shares of the company’s stock valued at $1,413,905,000 after purchasing an additional 29,079,686 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Newell Brands by 112.5% in the second quarter. Bank of New York Mellon Corp now owns 13,850,876 shares of the company’s stock valued at $742,686,000 after purchasing an additional 7,331,309 shares in the last quarter. Jennison Associates LLC acquired a new position in Newell Brands in the second quarter valued at approximately $124,839,000. Ameriprise Financial Inc. boosted its holdings in Newell Brands by 28.1% in the second quarter. Ameriprise Financial Inc. now owns 7,796,439 shares of the company’s stock valued at $417,953,000 after purchasing an additional 1,709,917 shares in the last quarter. Finally, Sentry Investments Corp. boosted its holdings in Newell Brands by 75.7% in the first quarter. Sentry Investments Corp. now owns 3,712,271 shares of the company’s stock valued at $175,108,000 after purchasing an additional 1,599,100 shares in the last quarter. 92.36% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently issued reports on the company. Zacks Investment Research raised Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a report on Wednesday, July 12th. BidaskClub downgraded Newell Brands from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. Jefferies Group LLC downgraded Newell Brands from a “buy” rating to a “hold” rating and lowered their price target for the company from $63.00 to $49.00 in a report on Monday, September 11th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $45.00 price target (down from $51.00) on shares of Newell Brands in a report on Thursday, September 21st. Finally, J P Morgan Chase & Co lowered their price target on Newell Brands from $58.00 to $56.00 and set an “overweight” rating for the company in a report on Thursday, September 21st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $56.57.
In other news, Director Scott S. Cowen bought 2,000 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was bought at an average price of $43.60 per share, for a total transaction of $87,200.00. Following the transaction, the director now owns 87,883 shares in the company, valued at $3,831,698.80. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael B. Polk bought 5,000 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was purchased at an average price of $43.61 per share, with a total value of $218,050.00. Following the transaction, the chief executive officer now owns 609,296 shares in the company, valued at approximately $26,571,398.56. The disclosure for this purchase can be found here. In the last quarter, insiders bought 7,100 shares of company stock valued at $309,715. Insiders own 0.97% of the company’s stock.
Shares of Newell Brands Inc. (NYSE:NWL) opened at 42.67 on Friday. Newell Brands Inc. has a 1-year low of $41.25 and a 1-year high of $55.08. The stock’s 50 day moving average price is $48.12 and its 200 day moving average price is $50.04. The stock has a market cap of $20.91 billion, a PE ratio of 17.04 and a beta of 1.19.
Newell Brands (NYSE:NWL) last issued its earnings results on Friday, August 4th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.86 by $0.01. The company had revenue of $4.06 billion during the quarter, compared to analyst estimates of $3.96 billion. Newell Brands had a return on equity of 11.47% and a net margin of 7.87%. The business’s revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 EPS. On average, equities research analysts anticipate that Newell Brands Inc. will post $3.00 EPS for the current fiscal year.
Newell Brands declared that its Board of Directors has approved a stock repurchase program on Tuesday, September 26th that permits the company to repurchase $256.00 million in shares. This repurchase authorization permits the company to buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were given a $0.23 dividend. The ex-dividend date was Tuesday, August 29th. This represents a $0.92 annualized dividend and a dividend yield of 2.16%. Newell Brands’s payout ratio is 36.95%.
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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