Commonwealth Bank of Australia Grows Position in Newell Brands Inc. (NWL)
Commonwealth Bank of Australia increased its position in shares of Newell Brands Inc. (NYSE:NWL) by 21.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,761 shares of the company’s stock after purchasing an additional 3,677 shares during the quarter. Commonwealth Bank of Australia’s holdings in Newell Brands were worth $1,112,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. BDO Wealth Advisors LLC acquired a new stake in shares of Newell Brands during the second quarter worth about $107,000. Harfst & Associates Inc. acquired a new stake in shares of Newell Brands during the first quarter worth about $103,000. Israel Discount Bank of New York acquired a new stake in shares of Newell Brands during the first quarter worth about $112,000. Parallel Advisors LLC lifted its holdings in shares of Newell Brands by 23.0% during the first quarter. Parallel Advisors LLC now owns 2,906 shares of the company’s stock worth $132,000 after purchasing an additional 544 shares during the period. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of Newell Brands during the first quarter worth about $156,000. 92.43% of the stock is owned by hedge funds and other institutional investors.
In other Newell Brands news, Director Scott S. Cowen purchased 2,000 shares of Newell Brands stock in a transaction dated Monday, September 11th. The stock was acquired at an average cost of $43.60 per share, with a total value of $87,200.00. Following the acquisition, the director now directly owns 87,883 shares of the company’s stock, valued at $3,831,698.80. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael B. Polk purchased 5,000 shares of Newell Brands stock in a transaction dated Wednesday, September 13th. The stock was acquired at an average cost of $43.61 per share, with a total value of $218,050.00. Following the completion of the acquisition, 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 acquired a total of 7,046 shares of company stock worth $307,669 over the last quarter. Company insiders own 0.97% of the company’s stock.
Newell Brands Inc. (NYSE:NWL) opened at 43.20 on Friday. Newell Brands Inc. has a 52 week low of $42.81 and a 52 week high of $55.08. The firm has a market capitalization of $21.17 billion, a P/E ratio of 17.25 and a beta of 1.19. The stock’s 50 day moving average price is $48.67 and its 200 day moving average price is $50.12.
Newell Brands (NYSE:NWL) last announced its earnings results on Friday, August 4th. The company reported $0.87 earnings per share for the quarter, beating the 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 company had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same period last year, the business posted $0.78 EPS. The company’s revenue was up 5.1% on a year-over-year basis. On average, equities analysts expect that Newell Brands Inc. will post $3.00 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were paid a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $0.92 annualized dividend and a dividend yield of 2.13%. Newell Brands’s dividend payout ratio (DPR) is currently 36.95%.
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NWL has been the subject of a number of analyst reports. Zacks Investment Research raised Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a report on Wednesday, July 12th. BidaskClub downgraded Newell Brands from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. Jefferies Group LLC downgraded Newell Brands from a “buy” rating to a “hold” rating and decreased their price target for the company from $63.00 to $49.00 in a report on Monday, September 11th. Royal Bank Of Canada reissued a “top pick” rating and issued a $60.00 price target on shares of Newell Brands in a report on Tuesday, August 29th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating and issued a $50.00 price target on shares of Newell Brands in a report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Newell Brands currently has a consensus rating of “Buy” and a consensus price target of $57.36.
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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