Macquarie Group Ltd. trimmed its position in shares of Newell Brands Inc. (NYSE:NWL) by 10.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 359,226 shares of the company’s stock after selling 42,009 shares during the period. Macquarie Group Ltd. owned approximately 0.07% of Newell Brands worth $19,263,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Prudential PLC increased its stake in Newell Brands by 24.1% during the second quarter. Prudential PLC now owns 2,245,600 shares of the company’s stock valued at $120,409,000 after acquiring an additional 435,400 shares during the period. Fieldpoint Private Securities LLC increased its stake in Newell Brands by 680.6% during the second quarter. Fieldpoint Private Securities LLC now owns 23,340 shares of the company’s stock valued at $1,251,000 after acquiring an additional 20,350 shares during the period. Capital Research Global Investors bought a new position in Newell Brands during the second quarter valued at about $24,129,000. Capital World Investors increased its stake in Newell Brands by 2.0% during the second quarter. Capital World Investors now owns 31,195,887 shares of the company’s stock valued at $1,672,723,000 after acquiring an additional 610,973 shares during the period. Finally, Optimum Investment Advisors increased its stake in Newell Brands by 11.3% during the second quarter. Optimum Investment Advisors now owns 8,885 shares of the company’s stock valued at $476,000 after acquiring an additional 902 shares during the period. Hedge funds and other institutional investors own 92.36% of the company’s stock.
Shares of Newell Brands Inc. (NWL) opened at 42.78 on Friday. The company has a market capitalization of $20.97 billion, a price-to-earnings ratio of 17.08 and a beta of 1.15. Newell Brands Inc. has a 1-year low of $40.88 and a 1-year high of $55.08. The stock has a 50 day moving average price of $44.24 and a 200 day moving average price of $49.29.
Newell Brands (NYSE:NWL) last posted its earnings results on Friday, August 4th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.01. The firm had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $3.96 billion. Newell Brands had a net margin of 7.87% and a return on equity of 11.47%. The company’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.78 earnings per share. Analysts forecast that Newell Brands Inc. will post $3.00 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.15%. Newell Brands’s payout ratio is presently 36.95%.
Newell Brands announced that its board has authorized a share repurchase program on Tuesday, September 26th that authorizes the company to buyback $256.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
COPYRIGHT VIOLATION WARNING: “Macquarie Group Ltd. Lowers Position in Newell Brands Inc. (NWL)” was published by TrueBlueTribune and is the property of of TrueBlueTribune. If you are reading this piece on another site, it was illegally stolen and republished in violation of U.S. and international trademark & copyright laws. The legal version of this piece can be viewed at https://www.truebluetribune.com/2017/10/13/macquarie-group-ltd-lowers-position-in-newell-brands-inc-nwl.html.
Several equities analysts recently issued reports on the company. Zacks Investment Research upgraded Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Tuesday, August 1st. J P Morgan Chase & Co set a $61.00 price target on Newell Brands and gave the company a “buy” rating in a research note on Monday, August 7th. Jefferies Group LLC restated a “buy” rating and set a $65.00 price target (down from $66.00) on shares of Newell Brands in a research note on Monday, August 7th. BMO Capital Markets set a $51.00 price objective on Newell Brands and gave the company a “hold” rating in a research note on Saturday, August 5th. Finally, BidaskClub lowered Newell Brands from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Newell Brands presently has a consensus rating of “Buy” and a consensus price target of $56.31.
In related news, CEO Michael B. Polk bought 5,000 shares of the firm’s stock in a transaction on Wednesday, September 13th. The shares were purchased at an average price of $43.61 per share, with a total value of $218,050.00. Following the completion of the purchase, the chief executive officer now owns 609,296 shares in the company, valued at approximately $26,571,398.56. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Scott S. Cowen bought 2,000 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were bought at an average cost of $43.60 per share, for a total transaction of $87,200.00. Following the purchase, the director now owns 87,883 shares of the company’s stock, valued at approximately $3,831,698.80. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 7,100 shares of company stock worth $309,715. Insiders own 0.97% of the company’s stock.
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.
Want to see what other hedge funds are holding NWL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newell Brands Inc. (NYSE:NWL).
Receive News & Ratings for Newell Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newell Brands Inc. and related companies with MarketBeat.com's FREE daily email newsletter.