Newell Brands Inc. (NWL) Stake Lifted by Northern Trust Corp
Northern Trust Corp grew its position in shares of Newell Brands Inc. (NYSE:NWL) by 0.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,054,567 shares of the company’s stock after purchasing an additional 250 shares during the period. Northern Trust Corp owned approximately 1.05% of Newell Brands worth $271,027,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BDO Wealth Advisors LLC purchased a new position in shares of Newell Brands during the 2nd quarter valued at $107,000. Harfst & Associates Inc. purchased a new position in shares of Newell Brands during the 1st quarter valued at $103,000. Israel Discount Bank of New York purchased a new position in shares of Newell Brands during the 1st quarter valued at $112,000. Parallel Advisors LLC grew 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 valued at $132,000 after purchasing an additional 544 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew 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 valued at $169,000 after purchasing an additional 1,088 shares in the last quarter. Hedge funds and other institutional investors own 92.36% of the company’s stock.
A number of research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research report on Wednesday, July 12th. J P Morgan Chase & Co reduced their price target on shares of Newell Brands from $58.00 to $56.00 and set an “overweight” rating for the company in a research report on Thursday. BMO Capital Markets reduced their price target on shares of Newell Brands from $51.00 to $45.00 and set a “market perform” rating for the company in a research report on Thursday. BidaskClub lowered shares of Newell Brands from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Finally, Jefferies Group LLC lowered shares of Newell Brands from a “buy” rating to a “hold” rating and reduced their price target for the company from $63.00 to $49.00 in a research report on Monday, September 11th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $56.57.
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Shares of Newell Brands Inc. (NYSE NWL) traded up 0.05% on Friday, reaching $41.50. 769,200 shares of the company traded hands. Newell Brands Inc. has a 1-year low of $41.25 and a 1-year high of $55.08. The stock has a 50-day moving average price of $48.12 and a 200 day moving average price of $50.04. The firm has a market capitalization of $20.34 billion, a P/E ratio of 16.57 and a beta of 1.19.
Newell Brands (NYSE:NWL) last issued its quarterly earnings data on Friday, August 4th. The company reported $0.87 EPS for the quarter, topping 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 business had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same period last year, the company posted $0.78 EPS. The business’s revenue was up 5.1% on a year-over-year basis. Analysts anticipate that Newell Brands Inc. will post $3.00 EPS for the current fiscal year.
The firm also recently disclosed 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 was Tuesday, August 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.17%. Newell Brands’s payout ratio is currently 36.95%.
In other Newell Brands news, CEO Michael B. Polk acquired 5,000 shares of the company’s stock in a transaction on 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 purchase, the chief executive officer now directly owns 609,296 shares of the company’s stock, valued at approximately $26,571,398.56. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Scott S. Cowen acquired 2,000 shares of the company’s stock in a transaction on 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 completion of the purchase, the director now directly owns 87,883 shares in the company, valued at $3,831,698.80. The disclosure for this purchase can be found here. Company insiders own 0.97% of the company’s stock.
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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