Newell Brands Inc. (NWL) Shares Bought by BTC Capital Management Inc.
BTC Capital Management Inc. raised its position in Newell Brands Inc. (NYSE:NWL) by 1.3% during the second quarter, Holdings Channel reports. The institutional investor owned 45,137 shares of the company’s stock after buying an additional 563 shares during the period. BTC Capital Management Inc.’s holdings in Newell Brands were worth $2,421,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the company. Teacher Retirement System of Texas raised its stake in shares of Newell Brands by 8.7% in the second quarter. Teacher Retirement System of Texas now owns 5,044 shares of the company’s stock worth $270,000 after buying an additional 403 shares in the last quarter. First Trust Advisors LP acquired a new stake in shares of Newell Brands during the second quarter worth about $5,573,000. Arizona State Retirement System raised its stake in shares of Newell Brands by 0.3% in the second quarter. Arizona State Retirement System now owns 119,776 shares of the company’s stock worth $6,422,000 after buying an additional 400 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Newell Brands by 2.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,464,507 shares of the company’s stock worth $78,527,000 after buying an additional 37,198 shares in the last quarter. Finally, Wetherby Asset Management Inc. raised its stake in shares of Newell Brands by 10.7% in the second quarter. Wetherby Asset Management Inc. now owns 11,408 shares of the company’s stock worth $612,000 after buying an additional 1,105 shares in the last quarter. 94.42% of the stock is owned by hedge funds and other institutional investors.
Newell Brands Inc. (NYSE NWL) opened at 50.20 on Friday. Newell Brands Inc. has a one year low of $43.43 and a one year high of $55.45. The stock has a 50 day moving average price of $52.74 and a 200 day moving average price of $50.02. The firm has a market cap of $24.31 billion, a PE ratio of 20.13 and a beta of 1.17.
Newell Brands (NYSE:NWL) last issued its quarterly earnings data on Friday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.01. Newell Brands had a return on equity of 11.47% and a net margin of 7.87%. The firm had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the previous year, the firm posted $0.78 EPS. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. Equities research analysts expect that Newell Brands Inc. will post $3.12 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.92 annualized dividend and a yield of 1.83%. Newell Brands’s payout ratio is currently 36.95%.
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A number of brokerages recently issued reports on NWL. J P Morgan Chase & Co set a $61.00 price target on Newell Brands and gave the stock a “buy” rating in a research note on Monday. Jefferies Group LLC reissued a “buy” rating and set a $65.00 price target (down from $66.00) on shares of Newell Brands in a research note on Monday. BMO Capital Markets set a $51.00 price target on Newell Brands and gave the stock a “hold” rating in a research note on Saturday, August 5th. Zacks Investment Research raised Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research report on Tuesday, August 1st. Finally, BidaskClub lowered Newell Brands from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Newell Brands presently has an average rating of “Buy” and an average price target of $58.07.
Newell Brands Company 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.
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