Michael B. Polk Purchases 5,000 Shares of Newell Brands Inc. (NWL) Stock
Newell Brands Inc. (NYSE:NWL) CEO Michael B. Polk acquired 5,000 shares of Newell Brands stock in a transaction that occurred on Wednesday, September 13th. The stock was purchased at an average cost 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 acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.
Newell Brands Inc. (NYSE NWL) opened at 43.30 on Friday. The stock has a market capitalization of $21.22 billion, a price-to-earnings ratio of 17.29 and a beta of 1.19. Newell Brands Inc. has a one year low of $42.88 and a one year high of $55.08. The company’s 50-day moving average is $48.92 and its 200 day moving average is $50.17.
Newell Brands (NYSE:NWL) last announced its earnings results on Friday, August 4th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.01. Newell Brands had a net margin of 7.87% and a return on equity of 11.47%. The firm 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 firm earned $0.78 EPS. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. Equities analysts expect that Newell Brands Inc. will post $3.00 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Tuesday, August 29th. Newell Brands’s payout ratio is currently 36.95%.
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A number of institutional investors and hedge funds have recently made changes to their positions in NWL. Harfst & Associates Inc. purchased a new stake in Newell Brands during the 1st quarter worth approximately $103,000. BDO Wealth Advisors LLC purchased a new stake in Newell Brands during the 2nd quarter worth approximately $107,000. Israel Discount Bank of New York purchased a new stake in Newell Brands during the 1st quarter worth approximately $112,000. Parallel Advisors LLC increased its stake in 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 during the period. Finally, BB&T Investment Services Inc. purchased a new stake in Newell Brands during the 2nd quarter worth approximately $143,000. 92.43% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently weighed in on the stock. 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 Wednesday, July 12th. BidaskClub lowered shares of Newell Brands from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Jefferies Group LLC lowered shares of Newell Brands from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $63.00 to $49.00 in a research report on Monday. Royal Bank Of Canada reissued a “top pick” rating and issued a $60.00 price objective on shares of Newell Brands in a research report on Tuesday, August 29th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating and issued a $50.00 price objective on shares of Newell Brands in a research report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $57.36.
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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