Vaughan Nelson Investment Management L.P. Sells 392,420 Shares of Newell Brands Inc. (NWL)
Vaughan Nelson Investment Management L.P. lowered its stake in shares of Newell Brands Inc. (NYSE:NWL) by 13.3% during the second quarter, Holdings Channel reports. The fund owned 2,558,081 shares of the company’s stock after selling 392,420 shares during the period. Newell Brands makes up about 1.6% of Vaughan Nelson Investment Management L.P.’s portfolio, making the stock its 2nd largest position. Vaughan Nelson Investment Management L.P.’s holdings in Newell Brands were worth $137,164,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Abner Herrman & Brock LLC raised its stake in shares of Newell Brands by 3.5% in the second quarter. Abner Herrman & Brock LLC now owns 138,351 shares of the company’s stock valued at $7,418,000 after buying an additional 4,743 shares during the period. Mn Services Vermogensbeheer B.V. raised its stake in shares of Newell Brands by 576.4% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 78,317 shares of the company’s stock valued at $4,199,000 after buying an additional 66,738 shares during the period. Jacobs & Co. CA raised its stake in shares of Newell Brands by 19.2% in the second quarter. Jacobs & Co. CA now owns 94,765 shares of the company’s stock valued at $5,081,000 after buying an additional 15,240 shares during the period. Hallmark Capital Management Inc. acquired a new stake in shares of Newell Brands during the second quarter valued at about $14,514,000. Finally, National Pension Service raised its stake in shares of Newell Brands by 14.5% in the second quarter. National Pension Service now owns 459,388 shares of the company’s stock valued at $24,357,000 after buying an additional 58,341 shares during the period. 94.23% of the stock is owned by hedge funds and other institutional investors.
Newell Brands Inc. (NWL) opened at 53.81 on Monday. Newell Brands Inc. has a 52-week low of $43.43 and a 52-week high of $55.45. The firm has a 50 day moving average of $53.17 and a 200-day moving average of $48.72. The company has a market capitalization of $26.00 billion, a price-to-earnings ratio of 22.84 and a beta of 1.17.
Newell Brands (NYSE:NWL) last posted its earnings results on Monday, May 8th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.05. The firm had revenue of $3.27 billion during 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 period in the previous year, the firm earned $0.40 EPS. Equities analysts expect that Newell Brands Inc. will post $3.12 EPS for the current year.
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Several analysts recently issued reports on NWL shares. Zacks Investment Research upgraded shares of Newell Brands from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research report on Saturday, July 1st. B. Riley restated a “buy” rating and set a $71.00 target price on shares of Newell Brands in a research report on Friday, April 14th. Wells Fargo & Company restated a “buy” rating on shares of Newell Brands in a research report on Saturday, April 22nd. UBS AG set a $60.00 target price on shares of Newell Brands and gave the company a “buy” rating in a research report on Tuesday, May 9th. Finally, Jefferies Group LLC boosted their target price on shares of Newell Brands from $61.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, May 9th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $58.56.
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 completion of the transaction, the director now directly owns 66,286 shares of the company’s stock, valued at approximately $3,479,352.14. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.97% of the stock is owned by insiders.
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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