Yellowstone Partners LLC Takes $527,000 Position in Newell Brands Inc. (NWL)
Yellowstone Partners LLC acquired a new position in shares of Newell Brands Inc. (NYSE:NWL) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 12,352 shares of the company’s stock, valued at approximately $527,000.
Other hedge funds have also made changes to their positions in the company. Strs Ohio boosted its position in Newell Brands by 3.7% during the second quarter. Strs Ohio now owns 15,544 shares of the company’s stock worth $833,000 after purchasing an additional 555 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Newell Brands by 5.4% in the second quarter. IFP Advisors Inc now owns 4,789 shares of the company’s stock valued at $257,000 after acquiring an additional 245 shares in the last quarter. HL Financial Services LLC purchased a new stake in shares of Newell Brands in the second quarter valued at $225,000. Schwab Charles Investment Management Inc. lifted its position in shares of Newell Brands by 2.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,464,507 shares of the company’s stock valued at $78,527,000 after acquiring an additional 37,198 shares in the last quarter. Finally, First Trust Advisors LP purchased a new stake in shares of Newell Brands in the second quarter valued at $5,573,000. 94.40% of the stock is currently owned by hedge funds and other institutional investors.
NWL has been the topic of several recent research reports. Jefferies Group restated a “hold” rating and issued a $47.00 price objective on shares of Newell Brands in a research report on Thursday, October 19th. Citigroup reduced their price objective on Newell Brands from $63.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. Raymond James Financial restated a “market perform” rating on shares of Newell Brands in a research report on Friday, November 3rd. TheStreet downgraded Newell Brands from a “b-” rating to a “c+” rating in a research report on Tuesday, November 14th. Finally, Morgan Stanley reduced their price objective on Newell Brands from $54.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, November 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. Newell Brands presently has an average rating of “Hold” and a consensus target price of $46.73.
Newell Brands Inc. (NYSE:NWL) traded up $0.24 during midday trading on Thursday, reaching $31.40. The company had a trading volume of 3,962,900 shares, compared to its average volume of 4,784,912. Newell Brands Inc. has a 1 year low of $27.45 and a 1 year high of $55.08. The stock has a market capitalization of $15,270.88, a P/E ratio of 10.86, a PEG ratio of 1.26 and a beta of 1.10. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.46 and a quick ratio of 0.86.
Newell Brands (NYSE:NWL) last released its earnings results on Thursday, November 2nd. The company reported $0.86 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.06). Newell Brands had a return on equity of 11.52% and a net margin of 8.34%. The business had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter last year, the company posted $0.78 earnings per share. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. sell-side analysts predict that Newell Brands Inc. will post 2.81 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.92 annualized dividend and a yield of 2.93%. Newell Brands’s dividend payout ratio (DPR) is presently 35.52%.
Newell Brands announced that its Board of Directors has approved a stock buyback program on Tuesday, September 26th that permits the company to buyback $256.00 million in shares. This buyback authorization permits the company to repurchase up to 1.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
In other Newell Brands news, CEO Michael B. Polk bought 7,000 shares of Newell Brands stock in a transaction that occurred on Monday, November 20th. The shares were purchased at an average cost of $28.22 per share, for a total transaction of $197,540.00. Following the completion of the transaction, the chief executive officer now owns 616,296 shares of the company’s stock, valued at approximately $17,391,873.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.97% of the company’s stock.
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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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