PNC Financial Services Group Inc. Buys 95,835 Shares of Newell Brands Inc. (NWL)
PNC Financial Services Group Inc. boosted its position in Newell Brands Inc. (NYSE:NWL) by 30.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 413,989 shares of the company’s stock after buying an additional 95,835 shares during the period. PNC Financial Services Group Inc.’s holdings in Newell Brands were worth $21,801,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of NWL. FTB Advisors Inc. boosted its position in shares of Newell Brands by 1.6% in the second quarter. FTB Advisors Inc. now owns 7,114 shares of the company’s stock valued at $345,000 after buying an additional 114 shares during the period. Independent Portfolio Consultants Inc. boosted its position in shares of Newell Brands by 2.7% in the third quarter. Independent Portfolio Consultants Inc. now owns 4,841 shares of the company’s stock valued at $255,000 after buying an additional 128 shares during the period. Carroll Financial Associates Inc. boosted its position in shares of Newell Brands by 3.2% in the second quarter. Carroll Financial Associates Inc. now owns 5,160 shares of the company’s stock valued at $250,000 after buying an additional 160 shares during the period. Advisory Services Network LLC boosted its position in shares of Newell Brands by 1.3% in the third quarter. Advisory Services Network LLC now owns 13,806 shares of the company’s stock valued at $727,000 after buying an additional 182 shares during the period. Finally, Private Trust Co. NA boosted its position in shares of Newell Brands by 1.2% in the second quarter. Private Trust Co. NA now owns 15,368 shares of the company’s stock valued at $746,000 after buying an additional 183 shares during the period. Institutional investors and hedge funds own 92.64% of the company’s stock.
Shares of Newell Brands Inc. (NYSE:NWL) traded down 1.18% during midday trading on Wednesday, hitting $46.91. The stock had a trading volume of 957,808 shares. Newell Brands Inc. has a one year low of $33.26 and a one year high of $55.45. The firm has a 50 day moving average of $49.50 and a 200-day moving average of $50.23. The company has a market cap of $22.63 billion, a P/E ratio of 45.72 and a beta of 1.03.
Newell Brands (NYSE:NWL) last released its quarterly earnings data on Friday, October 28th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.05. The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $4.06 billion. Newell Brands had a net margin of 3.51% and a return on equity of 14.92%. Newell Brands’s quarterly revenue was up 158.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.62 earnings per share. On average, analysts forecast that Newell Brands Inc. will post $2.88 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, November 28th. This represents a $0.76 annualized dividend and a yield of 1.60%. Newell Brands’s dividend payout ratio (DPR) is 86.36%.
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Several equities analysts recently issued reports on NWL shares. Jefferies Group restated a “top pick” rating and issued a $66.00 price target on shares of Newell Brands in a research report on Wednesday, September 14th. Citigroup Inc. restated a “buy” rating and issued a $61.00 price target on shares of Newell Brands in a research report on Tuesday, August 2nd. B. Riley restated a “buy” rating and issued a $60.00 price target on shares of Newell Brands in a research report on Monday, October 10th. Zacks Investment Research lowered Newell Brands from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. Finally, Raymond James Financial Inc. raised Newell Brands from an “outperform” rating to a “strong-buy” rating and set a $57.00 price objective on the stock in a report on Tuesday, November 8th. They noted that the move was a valuation call. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $58.75.
In other Newell Brands news, President Mark Tarchetti acquired 12,436 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The shares were purchased at an average price of $48.15 per share, for a total transaction of $598,793.40. Following the completion of the purchase, the president now directly owns 188,995 shares in the company, valued at $9,100,109.25. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael B. Polk acquired 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 1st. The shares were acquired at an average price of $47.82 per share, for a total transaction of $191,280.00. Following the purchase, the chief executive officer now owns 338,169 shares of the company’s stock, valued at $16,171,241.58. The disclosure for this purchase can be found here. Corporate insiders own 0.66% of the company’s stock.
About Newell Brands
Newell Brands Inc, formerly Newell Rubbermaid Inc, is a global consumer goods company. The Company’s brands consists of Paper Mate, Sharpie, Dymo, EXPO, Parker, Elmer’s, Coleman, Jostens, Marmot, Rawlings, Irwin, Lenox, Oster, Sunbeam, FoodSaver, Mr. Coffee, Rubbermaid Commercial Products, Graco, Baby Jogger, NUK, Calphalon, Rubbermaid, Contigo, First Alert, Waddington and Yankee Candle.
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