Cipher Capital LP purchased a new stake in shares of Newell Brands Inc. (NYSE:NWL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 188,212 shares of the company’s stock, valued at approximately $8,031,000. Newell Brands accounts for approximately 0.6% of Cipher Capital LP’s portfolio, making the stock its 15th biggest holding.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Newell Brands by 2.8% during the second quarter. Vanguard Group Inc. now owns 47,877,545 shares of the company’s stock valued at $2,567,193,000 after acquiring an additional 1,305,820 shares during the period. Capital World Investors boosted its holdings in shares of 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. BlackRock Inc. boosted its holdings in shares of Newell Brands by 1.8% during the second quarter. BlackRock Inc. now owns 30,518,491 shares of the company’s stock valued at $1,636,402,000 after acquiring an additional 543,779 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Newell Brands by 112.5% during the second quarter. Bank of New York Mellon Corp now owns 13,850,876 shares of the company’s stock valued at $742,686,000 after acquiring an additional 7,331,309 shares during the period. Finally, FMR LLC boosted its holdings in shares of Newell Brands by 0.5% during the second quarter. FMR LLC now owns 11,462,512 shares of the company’s stock valued at $614,621,000 after acquiring an additional 52,553 shares during the period. 91.42% of the stock is owned by institutional investors.
Shares of Newell Brands Inc. (NYSE NWL) traded up $0.17 during midday trading on Friday, reaching $28.18. 7,637,000 shares of the company’s stock were exchanged, compared to its average volume of 4,596,539. Newell Brands Inc. has a 52 week low of $27.45 and a 52 week high of $55.08. The company has a quick ratio of 0.86, a current ratio of 1.46 and a debt-to-equity ratio of 0.80. The firm has a market cap of $13,880.00, a P/E ratio of 9.76, a price-to-earnings-growth ratio of 1.13 and a beta of 1.20.
Newell Brands (NYSE:NWL) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.86 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.06). Newell Brands had a net margin of 6.37% and a return on equity of 7.53%. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same period in the previous year, the company posted $0.78 earnings per share. Newell Brands’s revenue was down 7.0% compared to the same quarter last year. sell-side analysts anticipate that Newell Brands Inc. will post 2.81 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Wednesday, November 29th. Newell Brands’s payout ratio is 35.52%.
Newell Brands announced that its board has initiated a stock buyback 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 stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.
In related news, CEO Michael B. Polk acquired 5,000 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were purchased at an average price of $43.61 per share, for a total transaction of $218,050.00. Following the acquisition, the chief executive officer now owns 609,296 shares in the company, valued at $26,571,398.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Scott S. Cowen acquired 2,000 shares of the business’s stock in a transaction on Monday, September 11th. The shares were bought at an average price of $43.60 per share, for a total transaction of $87,200.00. Following the acquisition, the director now owns 87,883 shares in the company, valued at approximately $3,831,698.80. The disclosure for this purchase can be found here. Insiders acquired a total of 7,100 shares of company stock valued at $309,715 over the last three months. 0.97% of the stock is owned by corporate insiders.
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Several equities analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Newell Brands from a “hold” rating to a “sell” rating in a report on Tuesday, September 19th. Jefferies Group LLC downgraded shares of Newell Brands from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $63.00 to $49.00 in a report on Monday, September 11th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $45.00 price objective (down previously from $51.00) on shares of Newell Brands in a report on Thursday, September 21st. TheStreet downgraded shares of Newell Brands from a “b-” rating to a “c+” rating in a report on Tuesday. Finally, J P Morgan Chase & Co reduced their price objective on shares of Newell Brands from $58.00 to $56.00 and set an “overweight” rating for the company in a report on Thursday, September 21st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. Newell Brands currently has a consensus rating of “Hold” and an average price target of $49.57.
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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