Newell Brands Inc. (NWL) Holdings Increased by King Luther Capital Management Corp
King Luther Capital Management Corp grew its stake in shares of Newell Brands Inc. (NYSE:NWL) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,203,006 shares of the company’s stock after buying an additional 30,576 shares during the quarter. Newell Brands comprises 1.6% of King Luther Capital Management Corp’s holdings, making the stock its 17th biggest position. King Luther Capital Management Corp owned about 0.66% of Newell Brands worth $171,745,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. BDO Wealth Advisors LLC bought a new stake in shares of Newell Brands during the 2nd quarter worth about $107,000. Harfst & Associates Inc. bought a new stake in shares of Newell Brands during the 1st quarter worth about $103,000. Israel Discount Bank of New York bought a new stake in shares of Newell Brands during the 1st quarter worth about $112,000. Parallel Advisors LLC raised its position in shares of Newell Brands by 23.0% during the 1st quarter. Parallel Advisors LLC now owns 2,906 shares of the company’s stock worth $132,000 after buying an additional 544 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Newell Brands by 52.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,164 shares of the company’s stock worth $169,000 after buying an additional 1,088 shares in the last quarter. Institutional investors own 92.43% of the company’s stock.
Newell Brands Inc. (NYSE NWL) traded down 1.13% on Thursday, hitting $43.72. 1,006,634 shares of the stock traded hands. The company’s 50 day moving average price is $49.44 and its 200-day moving average price is $50.26. Newell Brands Inc. has a 12-month low of $42.88 and a 12-month high of $55.08. The stock has a market capitalization of $21.43 billion, a P/E ratio of 17.46 and a beta of 1.19.
Newell Brands (NYSE:NWL) last released its earnings results on Friday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.01. Newell Brands had a net margin of 7.87% and a return on equity of 11.47%. The company had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the prior year, the company posted $0.78 EPS. The company’s revenue was up 5.1% compared to the same quarter last year. Analysts predict that Newell Brands Inc. will post $3.01 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be given a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.08%. Newell Brands’s dividend payout ratio is 36.95%.
A number of research firms have commented on NWL. Zacks Investment Research upgraded shares of 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. J P Morgan Chase & Co set a $61.00 price target on shares of Newell Brands and gave the stock a “buy” rating in a research report on Monday, August 7th. Jefferies Group LLC downgraded shares of Newell Brands from a “buy” rating to a “hold” rating and dropped their price target for the stock from $63.00 to $49.00 in a research report on Monday. Oppenheimer Holdings, Inc. restated a “hold” rating and set a $50.00 price target on shares of Newell Brands in a research report on Wednesday, September 6th. Finally, Forward View restated a “buy” rating and set a $58.00 price target on shares of Newell Brands in a research report on Monday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Newell Brands has a consensus rating of “Buy” and an average price target of $57.36.
In other news, Director Scott S. Cowen purchased 2,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were acquired at an average cost of $43.60 per share, for a total transaction of $87,200.00. Following the transaction, the director now directly owns 87,883 shares of the company’s stock, valued at approximately $3,831,698.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael B. Polk purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The stock was purchased at an average price of $43.61 per share, for a total transaction of $218,050.00. Following the completion of the transaction, the chief executive officer now directly owns 609,296 shares in the company, valued at $26,571,398.56. The disclosure for this purchase can be found here. Insiders purchased a total of 7,046 shares of company stock worth $307,669 over the last quarter. 0.97% of the stock is currently owned by corporate insiders.
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Newell Brands 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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