Russell Investments Group Ltd. lessened its holdings in Newell Brands Inc. (NYSE:NWL) by 72.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 118,397 shares of the company’s stock after selling 318,614 shares during the quarter. Russell Investments Group Ltd.’s holdings in Newell Brands were worth $5,052,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also made changes to their positions in NWL. Bank of New York Mellon Corp grew its position in Newell Brands by 112.5% in the 2nd 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 last quarter. Jennison Associates LLC bought a new position in Newell Brands in the 2nd quarter valued at $124,839,000. Ameriprise Financial Inc. grew its position in shares of Newell Brands by 28.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,796,439 shares of the company’s stock worth $417,953,000 after buying an additional 1,709,917 shares in the last quarter. FIL Ltd bought a new position in shares of Newell Brands during the 2nd quarter worth $76,301,000. Finally, Vanguard Group Inc. grew its position in shares of Newell Brands by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 47,877,545 shares of the company’s stock worth $2,567,193,000 after buying an additional 1,305,820 shares in the last quarter. 94.40% of the stock is currently owned by institutional investors.
In related news, CEO Michael B. Polk acquired 7,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were bought at an average price of $28.22 per share, with a total value of $197,540.00. Following the completion of the transaction, the chief executive officer now directly owns 616,296 shares in the company, valued at $17,391,873.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.97% of the stock is owned by company insiders.
NWL has been the topic of a number of recent research reports. Raymond James Financial reissued a “market perform” rating on shares of Newell Brands in a research report on Friday, November 3rd. Jefferies Group reissued a “hold” rating and set a $47.00 price target on shares of Newell Brands in a research report on Thursday, October 19th. Morgan Stanley dropped their price target 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. Forward View reissued a “buy” rating and set a $35.00 price target on shares of Newell Brands in a research report on Sunday, November 5th. Finally, Barclays reissued a “buy” rating and set a $35.00 price target on shares of Newell Brands in a research report on Wednesday, December 6th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $47.79.
Shares of Newell Brands Inc. (NWL) traded up $0.24 during mid-day trading on Wednesday, reaching $31.16. The company had a trading volume of 4,587,000 shares, compared to its average volume of 4,788,351. Newell Brands Inc. has a 12 month low of $27.45 and a 12 month high of $55.08. The company has a market capitalization of $15,153.89, a P/E ratio of 10.77, a P/E/G ratio of 1.25 and a beta of 1.10. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.86 and a current ratio of 1.46.
Newell Brands (NYSE:NWL) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Newell Brands had a net margin of 8.34% and a return on equity of 11.52%. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same period in the previous year, the business earned $0.78 EPS. Newell Brands’s revenue for the quarter 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.
Newell Brands announced that its Board of Directors has authorized a share repurchase plan 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 plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed 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. This represents a $0.92 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend is Wednesday, November 29th. Newell Brands’s payout ratio is currently 35.52%.
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.
Receive News & Ratings for Newell Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newell Brands and related companies with MarketBeat.com's FREE daily email newsletter.