Newell Brands Inc. (NWL) Position Reduced by Sei Investments Co.
Sei Investments Co. decreased its stake in Newell Brands Inc. (NYSE:NWL) by 29.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 426,419 shares of the company’s stock after selling 175,646 shares during the quarter. Sei Investments Co. owned approximately 0.09% of Newell Brands worth $18,195,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Eaton Vance Management lifted its position in Newell Brands by 2.1% in the 2nd quarter. Eaton Vance Management now owns 4,055,702 shares of the company’s stock worth $217,467,000 after buying an additional 82,184 shares in the last quarter. King Luther Capital Management Corp lifted its position in Newell Brands by 1.0% in the 2nd quarter. King Luther Capital Management Corp now owns 3,203,006 shares of the company’s stock worth $171,745,000 after buying an additional 30,576 shares in the last quarter. Whittier Trust Co. lifted its position in Newell Brands by 85.8% in the 3rd quarter. Whittier Trust Co. now owns 10,658 shares of the company’s stock worth $455,000 after buying an additional 4,921 shares in the last quarter. Bellwether Investment Group LLC lifted its position in Newell Brands by 2.0% in the 2nd quarter. Bellwether Investment Group LLC now owns 5,501 shares of the company’s stock worth $295,000 after buying an additional 110 shares in the last quarter. Finally, FMR LLC lifted its position in Newell Brands by 0.5% in the 2nd quarter. FMR LLC now owns 11,462,512 shares of the company’s stock worth $614,621,000 after buying an additional 52,553 shares in the last quarter. Institutional investors own 91.42% of the company’s stock.
In other news, Director Scott S. Cowen bought 2,000 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were purchased at an average price of $43.60 per share, for a total transaction of $87,200.00. Following the acquisition, the director now directly owns 87,883 shares of the company’s stock, valued at approximately $3,831,698.80. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Michael B. Polk bought 5,000 shares of the company’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 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 purchased a total of 7,100 shares of company stock worth $309,715 in the last quarter. Insiders own 0.97% of the company’s stock.
Shares of Newell Brands Inc. (NYSE NWL) traded up $0.01 on Wednesday, reaching $28.05. 1,621,284 shares of the company traded hands, compared to its average volume of 4,562,322. The company has a market cap of $13,953.15, a P/E ratio of 9.92, a PEG ratio of 1.15 and a beta of 1.20. Newell Brands Inc. has a 12-month low of $27.90 and a 12-month high of $55.08. The company has a quick ratio of 0.86, a current ratio of 1.46 and a debt-to-equity ratio of 0.80.
Newell Brands (NYSE:NWL) last announced its earnings results on Thursday, November 2nd. The company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.06). The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.71 billion. Newell Brands had a return on equity of 11.52% and a net margin of 8.34%. The business’s revenue was down 7.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.78 EPS. equities research analysts forecast that Newell Brands Inc. will post 2.81 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $0.92 annualized dividend and a yield of 3.28%. Newell Brands’s dividend payout ratio (DPR) is presently 35.52%.
Newell Brands announced that its board has initiated a stock repurchase program on Tuesday, September 26th that authorizes the company to repurchase $256.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
A number of research firms have issued reports on NWL. Zacks Investment Research upgraded shares of Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research report on Tuesday, August 1st. Forward View reiterated a “buy” rating and issued a $35.00 target price on shares of Newell Brands in a research report on Sunday, November 5th. J P Morgan Chase & Co set a $61.00 target price on shares of Newell Brands and gave the stock a “buy” rating in a research report on Monday, August 7th. BMO Capital Markets cut their target price on shares of Newell Brands from $45.00 to $32.00 and set a “market perform” rating for the company in a research report on Tuesday, November 7th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $65.00 target price (down previously from $66.00) on shares of Newell Brands in a research report on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $49.57.
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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