Newell Brands Inc. (NYSE:NWL) Stake Raised by Pictet Asset Management Ltd.
Pictet Asset Management Ltd. raised its position in Newell Brands Inc. (NYSE:NWL) by 25.0% during the second quarter, Holdings Channel reports. The institutional investor owned 352,739 shares of the company’s stock after buying an additional 70,481 shares during the period. Pictet Asset Management Ltd.’s holdings in Newell Brands were worth $18,678,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the company. Cullen Frost Bankers Inc. raised its stake in shares of Newell Brands by 2.2% in the second quarter. Cullen Frost Bankers Inc. now owns 185,283 shares of the company’s stock worth $9,935,000 after buying an additional 4,030 shares in the last quarter. Novare Capital Management LLC raised its stake in shares of Newell Brands by 1.3% in the second quarter. Novare Capital Management LLC now owns 122,220 shares of the company’s stock worth $6,553,000 after buying an additional 1,625 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Newell Brands by 5.4% in the second quarter. IFP Advisors Inc now owns 4,789 shares of the company’s stock worth $257,000 after buying an additional 245 shares in the last quarter. Korea Investment CORP raised its stake in shares of Newell Brands by 66.6% in the second quarter. Korea Investment CORP now owns 706,889 shares of the company’s stock worth $37,903,000 after buying an additional 282,664 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. raised its stake in shares of Newell Brands by 7.2% in the second quarter. Candriam Luxembourg S.C.A. now owns 31,520 shares of the company’s stock worth $1,690,000 after buying an additional 2,120 shares in the last quarter. Hedge funds and other institutional investors own 94.42% of the company’s stock.
Shares of Newell Brands Inc. (NYSE NWL) opened at 50.00 on Friday. The company has a market capitalization of $24.21 billion, a P/E ratio of 20.05 and a beta of 1.17. The firm has a 50-day moving average price of $52.68 and a 200 day moving average price of $50.04. Newell Brands Inc. has a 12-month low of $43.43 and a 12-month high of $55.45.
Newell Brands (NYSE:NWL) last announced its earnings results on Friday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.01. The business had revenue of $4.06 billion for 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 business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 EPS. On average, equities research analysts predict that Newell Brands Inc. will post $3.12 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.92 annualized dividend and a yield of 1.84%. Newell Brands’s dividend payout ratio (DPR) is presently 36.95%.
A number of equities research analysts have recently weighed in on the company. J P Morgan Chase & Co set a $61.00 price objective on Newell Brands and gave the stock a “buy” rating in a research report on Monday, August 7th. Jefferies Group LLC restated a “buy” rating and set a $65.00 price target (down from $66.00) on shares of Newell Brands in a research report on Monday, August 7th. BMO Capital Markets set a $51.00 price target on Newell Brands and gave the company a “hold” rating in a research report on Saturday, August 5th. Zacks Investment Research upgraded Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock 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 investment analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Newell Brands presently has a consensus 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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