Municipal Employees Retirement System of Michigan Has $732,000 Stake in Newell Brands Inc. (NWL)
Municipal Employees Retirement System of Michigan held its stake in Newell Brands Inc. (NYSE:NWL) during the first quarter, Holdings Channel reports. The firm owned 15,510 shares of the company’s stock at the end of the first quarter. Municipal Employees Retirement System of Michigan’s holdings in Newell Brands were worth $732,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in NWL. Parallel Advisors LLC purchased a new stake in Newell Brands during the fourth quarter worth $105,000. Renaissance Technologies LLC boosted its stake in Newell Brands by 144.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,240,427 shares of the company’s stock worth $55,385,000 after buying an additional 733,500 shares in the last quarter. First Allied Advisory Services Inc. boosted its stake in Newell Brands by 42.9% in the fourth quarter. First Allied Advisory Services Inc. now owns 5,549 shares of the company’s stock worth $248,000 after buying an additional 1,667 shares in the last quarter. Pacad Investment Ltd. purchased a new stake in Newell Brands during the fourth quarter worth $1,197,000. Finally, Diligent Investors LLC purchased a new stake in Newell Brands during the fourth quarter worth $325,000. Institutional investors and hedge funds own 95.67% of the company’s stock.
Newell Brands Inc. (NYSE:NWL) traded down 0.83% during trading on Tuesday, reaching $54.09. 602,336 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $52.13 and a 200-day moving average of $48.33. Newell Brands Inc. has a 52 week low of $43.43 and a 52 week high of $55.45. The stock has a market capitalization of $26.13 billion, a PE ratio of 22.96 and a beta of 1.13.
Newell Brands (NYSE:NWL) last posted its quarterly earnings data on Monday, May 8th. The company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.05. The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.23 billion. Newell Brands had a return on equity of 11.07% and a net margin of 7.40%. The company’s revenue was up 148.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.40 earnings per share. On average, equities research analysts anticipate that Newell Brands Inc. will post $3.11 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st were issued a $0.23 dividend. This is an increase from Newell Brands’s previous quarterly dividend of $0.19. This represents a $0.92 annualized dividend and a dividend yield of 1.69%. The ex-dividend date was Friday, May 26th. Newell Brands’s dividend payout ratio is presently 39.49%.
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NWL has been the subject of several research analyst reports. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Newell Brands in a research report on Thursday, June 8th. BMO Capital Markets set a $51.00 price objective on shares of Newell Brands and gave the company a “hold” rating in a research report on Monday, May 8th. Jefferies Group LLC increased their price objective on shares of Newell Brands from $61.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, May 9th. J P Morgan Chase & Co initiated coverage on shares of Newell Brands in a research report on Tuesday, March 21st. They issued an “overweight” rating and a $63.00 price objective for the company. Finally, Wells Fargo & Co lowered shares of Newell Brands from an “outperform” rating to a “market perform” rating and set a $50.00 price objective for the company. in a research report on Monday, May 1st. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Newell Brands currently has a consensus rating of “Buy” and a consensus target price of $57.93.
In other news, Director Thomas E. Clarke sold 5,353 shares of the stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $52.49, for a total value of $280,978.97. Following the completion of the sale, the director now directly owns 66,286 shares of the company’s stock, valued at $3,479,352.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.97% of the stock is currently owned by corporate insiders.
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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