Connable Office Inc. Continues to Hold Stake in Newell Brands Inc. (NWL)
Connable Office Inc. held its position in shares of Newell Brands Inc. (NYSE:NWL) during the second quarter, Holdings Channel reports. The fund owned 58,717 shares of the company’s stock at the end of the second quarter. Connable Office Inc.’s holdings in Newell Brands were worth $3,148,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the stock. Harfst & Associates Inc. acquired a new position in shares of Newell Brands during the first quarter valued at $103,000. Israel Discount Bank of New York acquired a new position in shares of Newell Brands during the first quarter valued at $112,000. Parallel Advisors LLC raised its position in shares of Newell Brands by 23.0% in the first quarter. Parallel Advisors LLC now owns 2,906 shares of the company’s stock valued at $132,000 after buying an additional 544 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of Newell Brands during the first quarter valued at $156,000. Finally, CHICAGO TRUST Co NA acquired a new position in shares of Newell Brands during the second quarter valued at $204,000. 94.42% of the stock is currently owned by hedge funds and other institutional investors.
Newell Brands Inc. (NYSE NWL) opened at 50.74 on Thursday. The stock has a 50 day moving average of $52.81 and a 200-day moving average of $50.01. Newell Brands Inc. has a 52-week low of $43.43 and a 52-week high of $55.45. The company has a market cap of $24.51 billion, a price-to-earnings ratio of 21.54 and a beta of 1.17.
Newell Brands (NYSE:NWL) last posted its quarterly earnings results on Friday, August 4th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.01. Newell Brands had a return on equity of 11.47% and a net margin of 7.87%. The business had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter in the prior year, the business earned $0.78 EPS. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, analysts forecast that Newell Brands Inc. will post $3.12 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.81%. Newell Brands’s dividend payout ratio (DPR) is presently 36.95%.
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Several brokerages recently weighed in on NWL. UBS AG set a $60.00 price objective on shares of Newell Brands and gave the company a “buy” rating in a research report on Tuesday, May 9th. Jefferies Group LLC reaffirmed a “buy” rating and set a $65.00 price objective (down previously from $66.00) on shares of Newell Brands in a research report on Monday. J P Morgan Chase & Co set a $61.00 price objective on shares of Newell Brands and gave the company a “buy” rating in a research report on Monday. Zacks Investment Research raised shares of Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research report on Tuesday, August 1st. Finally, 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 Saturday, August 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Newell Brands currently has an average rating of “Buy” and an average price target of $58.07.
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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