US Bancorp DE Purchases 1,356 Shares of Newell Brands Inc. (NWL)
US Bancorp DE boosted its position in Newell Brands Inc. (NYSE:NWL) by 0.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 253,274 shares of the company’s stock after buying an additional 1,356 shares during the period. US Bancorp DE’s holdings in Newell Brands were worth $13,338,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in NWL. Vanguard Group Inc. boosted its position in Newell Brands by 82.8% in the second quarter. Vanguard Group Inc. now owns 41,447,370 shares of the company’s stock worth $2,013,099,000 after buying an additional 18,777,228 shares during the period. Capital International Investors boosted its position in Newell Brands by 1.7% in the second quarter. Capital International Investors now owns 18,225,502 shares of the company’s stock worth $885,213,000 after buying an additional 307,407 shares during the period. State Street Corp boosted its position in Newell Brands by 62.7% in the second quarter. State Street Corp now owns 17,186,871 shares of the company’s stock worth $834,765,000 after buying an additional 6,623,143 shares during the period. Capital World Investors boosted its position in Newell Brands by 43.8% in the second quarter. Capital World Investors now owns 14,080,762 shares of the company’s stock worth $683,903,000 after buying an additional 4,285,762 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in Newell Brands by 15.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 13,519,953 shares of the company’s stock worth $656,664,000 after buying an additional 1,762,871 shares during the period. 92.64% of the stock is owned by institutional investors.
Shares of Newell Brands Inc. (NYSE:NWL) traded down 1.506% during midday trading on Wednesday, hitting $46.755. The stock had a trading volume of 1,586,376 shares. The firm has a market cap of $22.55 billion, a price-to-earnings ratio of 45.570 and a beta of 1.03. The firm has a 50-day moving average price of $49.50 and a 200-day moving average price of $50.23. Newell Brands Inc. has a 1-year low of $33.26 and a 1-year high of $55.45.
Newell Brands (NYSE:NWL) last issued its earnings results on Friday, October 28th. The company reported $0.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.05. The business earned $3.95 billion during the quarter, compared to analysts’ expectations of $4.06 billion. Newell Brands had a return on equity of 14.92% and a net margin of 3.51%. Newell Brands’s revenue was up 158.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 earnings per share. On average, equities analysts anticipate that Newell Brands Inc. will post $2.88 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be given a $0.19 dividend. The ex-dividend date of this dividend is Monday, November 28th. This represents a $0.76 annualized dividend and a dividend yield of 1.60%. Newell Brands’s dividend payout ratio (DPR) is presently 86.36%.
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NWL has been the subject of a number of analyst reports. Jefferies Group reissued a “top pick” rating and issued a $66.00 price target on shares of Newell Brands in a report on Wednesday, September 14th. Citigroup Inc. reiterated a “buy” rating and issued a $61.00 target price on shares of Newell Brands in a research note on Tuesday, August 2nd. B. Riley reiterated a “buy” rating and issued a $60.00 target price on shares of Newell Brands in a research note on Monday, October 10th. Zacks Investment Research lowered Newell Brands from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Finally, Raymond James Financial Inc. upgraded Newell Brands from an “outperform” rating to a “strong-buy” rating and set a $57.00 target price for the company in a research note on Tuesday, November 8th. They noted that the move was a valuation call. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $58.75.
In other news, President Mark Tarchetti acquired 12,436 shares of the business’s stock in a transaction that occurred on Monday, October 31st. The stock was acquired at an average cost of $48.15 per share, for a total transaction of $598,793.40. Following the completion of the acquisition, the president now owns 188,995 shares in the company, valued at $9,100,109.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael B. Polk acquired 7,500 shares of the business’s stock in a transaction that occurred on Monday, October 31st. The shares were purchased at an average price of $49.68 per share, with a total value of $372,600.00. The disclosure for this purchase can be found here. 0.66% of the stock is owned by insiders.
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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