Pinnacle Financial Partners Inc. Sells 100 Shares of Newell Brands Inc. (NWL)
Pinnacle Financial Partners Inc. decreased its position in Newell Brands Inc. (NYSE:NWL) by 2.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,757 shares of the company’s stock after selling 100 shares during the period. Pinnacle Financial Partners Inc.’s holdings in Newell Brands were worth $255,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Whittier Trust Co. increased its stake in Newell Brands by 10.4% in the first quarter. Whittier Trust Co. now owns 5,737 shares of the company’s stock worth $271,000 after buying an additional 540 shares in the last quarter. Glen Harbor Capital Management LLC increased its stake in Newell Brands by 8.0% in the first quarter. Glen Harbor Capital Management LLC now owns 51,952 shares of the company’s stock worth $2,450,000 after buying an additional 3,842 shares in the last quarter. Quantbot Technologies LP increased its stake in Newell Brands by 396.0% in the first quarter. Quantbot Technologies LP now owns 87,695 shares of the company’s stock worth $4,136,000 after buying an additional 70,014 shares in the last quarter. Viking Fund Management LLC increased its stake in Newell Brands by 39.1% in the first quarter. Viking Fund Management LLC now owns 16,000 shares of the company’s stock worth $755,000 after buying an additional 4,500 shares in the last quarter. Finally, King Luther Capital Management Corp increased its stake in Newell Brands by 3.8% in the first quarter. King Luther Capital Management Corp now owns 3,172,430 shares of the company’s stock worth $149,644,000 after buying an additional 114,855 shares in the last quarter. Hedge funds and other institutional investors own 94.87% of the company’s stock.
Newell Brands Inc. (NWL) opened at 50.10 on Tuesday. Newell Brands Inc. has a 12 month low of $43.43 and a 12 month high of $55.08. The firm has a market cap of $24.55 billion, a P/E ratio of 20.01 and a beta of 1.17. The company’s 50-day moving average is $52.59 and its 200 day moving average is $50.11.
Newell Brands (NYSE:NWL) last issued its quarterly earnings results on Friday, August 4th. The company reported $0.87 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.01. The company had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $3.96 billion. Newell Brands had a return on equity of 11.47% and a net margin of 7.87%. Newell Brands’s revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the business earned $0.78 earnings per share. Equities research analysts expect that Newell Brands Inc. will post $3.12 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.84%. The ex-dividend date is Tuesday, August 29th. Newell Brands’s dividend payout ratio (DPR) is presently 36.95%.
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A number of equities research analysts have weighed in on NWL shares. Wells Fargo & Company downgraded shares of Newell Brands from an “outperform” rating to a “market perform” rating and set a $50.00 price target on the stock. in a research note on Monday, May 1st. BMO Capital Markets set a $51.00 price target on shares of Newell Brands and gave the stock a “hold” rating in a research note on Saturday, August 5th. Royal Bank Of Canada reiterated a “buy” rating and set a $60.00 price target on shares of Newell Brands in a research note on Thursday, June 8th. BidaskClub upgraded shares of Newell Brands from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. Finally, Zacks Investment Research upgraded shares of Newell Brands from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Saturday, July 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target 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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