Franklin Resources Inc. Reduces Stake in Newell Brands Inc. (NWL)

Franklin Resources Inc. lowered its position in shares of Newell Brands Inc. (NYSE:NWL) by 20.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,047,917 shares of the company’s stock after selling 805,586 shares during the period. Franklin Resources Inc. owned about 0.63% of Newell Brands worth $163,416,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of NWL. Eaton Vance Management grew its holdings in shares of Newell Brands by 2.1% during the second quarter. Eaton Vance Management now owns 4,055,702 shares of the company’s stock worth $217,467,000 after buying an additional 82,184 shares during the last quarter. Bellwether Investment Group LLC grew its holdings in shares of Newell Brands by 2.0% during the second quarter. Bellwether Investment Group LLC now owns 5,501 shares of the company’s stock worth $295,000 after buying an additional 110 shares during the last quarter. Sit Investment Associates Inc. grew its holdings in shares of Newell Brands by 727.6% during the second quarter. Sit Investment Associates Inc. now owns 191,175 shares of the company’s stock worth $10,251,000 after buying an additional 168,075 shares during the last quarter. Quantbot Technologies LP grew its holdings in shares of Newell Brands by 396.0% during 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 during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Newell Brands by 10.8% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 961,051 shares of the company’s stock worth $51,532,000 after buying an additional 93,400 shares during the last quarter. Institutional investors and hedge funds own 92.43% of the company’s stock.

In related news, Director Scott S. Cowen acquired 2,000 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were purchased at an average cost of $43.60 per share, for a total transaction of $87,200.00. Following the completion of the acquisition, the director now directly owns 87,883 shares in the company, valued at $3,831,698.80. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael B. Polk purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was acquired at an average price of $43.61 per share, for a total transaction of $218,050.00. Following the completion of the purchase, the chief executive officer now directly owns 609,296 shares of the company’s stock, valued at approximately $26,571,398.56. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 7,046 shares of company stock worth $307,669. Corporate insiders own 0.97% of the company’s stock.

Shares of Newell Brands Inc. (NWL) traded down 0.16% on Friday, reaching $43.20. The company’s stock had a trading volume of 7,608,237 shares. The stock has a market capitalization of $21.17 billion, a PE ratio of 17.25 and a beta of 1.19. Newell Brands Inc. has a 1-year low of $42.81 and a 1-year high of $55.08. The stock has a 50-day moving average of $48.67 and a 200 day moving average of $50.12.

Newell Brands (NYSE:NWL) last released its quarterly earnings data on Friday, August 4th. The company reported $0.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.01. Newell Brands had a net margin of 7.87% and a return on equity of 11.47%. The firm had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the previous year, the company earned $0.78 earnings per share. The company’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities analysts forecast that Newell Brands Inc. will post $3.00 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were issued a $0.23 dividend. The ex-dividend date was Tuesday, August 29th. This represents a $0.92 annualized dividend and a dividend yield of 2.13%. Newell Brands’s dividend payout ratio is currently 36.95%.

NWL has been the topic of a number of research reports. BMO Capital Markets set a $51.00 price objective on Newell Brands and gave the company a “hold” rating in a report on Saturday, August 5th. Oppenheimer Holdings, Inc. reiterated a “hold” rating and set a $50.00 price target on shares of Newell Brands in a research report on Wednesday, September 6th. BidaskClub downgraded shares of Newell Brands from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Zacks Investment Research upgraded shares of Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research report on Wednesday, July 12th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $60.00 price target on shares of Newell Brands in a research report on Thursday, June 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $57.36.

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Newell Brands 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.

Institutional Ownership by Quarter for Newell Brands (NYSE:NWL)

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