United Fire Group Inc. Maintains Position in Newell Brands Inc. (NYSE:NWL)
United Fire Group Inc. continued to hold its stake in Newell Brands Inc. (NYSE:NWL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,766 shares of the company’s stock at the end of the second quarter. Newell Brands makes up 0.9% of United Fire Group Inc.’s holdings, making the stock its 27th largest position. United Fire Group Inc.’s holdings in Newell Brands were worth $2,454,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Bank of The West increased its stake in Newell Brands by 36.4% in the first quarter. Bank of The West now owns 16,139 shares of the company’s stock worth $761,000 after buying an additional 4,308 shares during the last quarter. DnB Asset Management AS increased its stake in Newell Brands by 9.9% in the first quarter. DnB Asset Management AS now owns 50,053 shares of the company’s stock worth $2,361,000 after buying an additional 4,500 shares during the last quarter. Palisade Capital Management LLC NJ increased its stake in Newell Brands by 16.8% in the first quarter. Palisade Capital Management LLC NJ now owns 248,849 shares of the company’s stock worth $11,738,000 after buying an additional 35,773 shares during the last quarter. Farmers & Merchants Investments Inc. increased its stake in Newell Brands by 0.6% in the first quarter. Farmers & Merchants Investments Inc. now owns 64,482 shares of the company’s stock worth $3,042,000 after buying an additional 400 shares during the last quarter. Finally, Regent Investment Management LLC increased its stake in Newell Brands by 25.1% in the first quarter. Regent Investment Management LLC now owns 18,835 shares of the company’s stock worth $888,000 after buying an additional 3,775 shares during the last quarter. 94.42% of the stock is currently owned by institutional investors and hedge funds.
Newell Brands Inc. (NYSE:NWL) opened at 50.20 on Friday. The company’s 50-day moving average price is $52.74 and its 200-day moving average price is $50.02. Newell Brands Inc. has a 12-month low of $43.43 and a 12-month high of $55.45. The stock 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 posted its earnings results on Friday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.01. The company had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $3.96 billion. Newell Brands had a return on equity of 11.47% and a net margin of 7.87%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.78 earnings per share. On average, equities analysts expect that Newell Brands Inc. will post $3.12 EPS for the current fiscal year.
The firm 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 dividend of $0.23 per share. The ex-dividend date is Tuesday, August 29th. This represents a $0.92 annualized dividend and a yield of 1.83%. Newell Brands’s dividend payout ratio (DPR) is 36.95%.
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Several equities analysts have recently weighed in on NWL shares. Jefferies Group LLC reissued a “buy” rating and set a $66.00 target price (up previously from $65.00) on shares of Newell Brands in a research report on Thursday, July 6th. Zacks Investment Research raised Newell Brands from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Saturday, July 1st. BidaskClub raised Newell Brands from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Royal Bank Of Canada reissued a “buy” rating and set a $60.00 target price on shares of Newell Brands in a research report on Thursday, June 8th. Finally, BMO Capital Markets set a $51.00 target price on Newell Brands and gave the company a “hold” rating in a research report on Monday, May 8th. One research 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. The company currently has a consensus rating of “Buy” and a consensus 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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