Newell Brands Inc. (NWL) Holdings Increased by Sadoff Investment Management LLC
Sadoff Investment Management LLC grew its holdings in shares of Newell Brands Inc. (NYSE:NWL) by 0.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 896,872 shares of the company’s stock after buying an additional 7,000 shares during the period. Newell Brands accounts for about 3.4% of Sadoff Investment Management LLC’s holdings, making the stock its 11th largest holding. Sadoff Investment Management LLC owned about 0.18% of Newell Brands worth $38,270,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in NWL. Bank of New York Mellon Corp lifted its holdings in Newell Brands by 112.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,850,876 shares of the company’s stock worth $742,686,000 after buying an additional 7,331,309 shares during the last quarter. Jennison Associates LLC purchased a new stake in Newell Brands during the 2nd quarter worth about $124,839,000. Ameriprise Financial Inc. lifted its holdings in Newell Brands by 28.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,796,439 shares of the company’s stock worth $417,953,000 after buying an additional 1,709,917 shares during the last quarter. FIL Ltd purchased a new stake in Newell Brands during the 2nd quarter worth about $76,301,000. Finally, Vanguard Group Inc. lifted its holdings in Newell Brands by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 47,877,545 shares of the company’s stock worth $2,567,193,000 after buying an additional 1,305,820 shares during the last quarter. 89.67% of the stock is owned by institutional investors.
A number of research firms have recently commented on NWL. Zacks Investment Research cut Newell Brands from a “hold” rating to a “sell” rating in a research report on Tuesday, September 19th. Jefferies Group LLC cut Newell Brands from a “buy” rating to a “hold” rating and cut their target price for the stock from $63.00 to $49.00 in a research report on Monday, September 11th. BMO Capital Markets reiterated a “market perform” rating and set a $45.00 target price (down previously from $51.00) on shares of Newell Brands in a research report on Thursday, September 21st. J P Morgan Chase & Co cut their target price on Newell Brands from $58.00 to $56.00 and set an “overweight” rating on the stock in a research report on Thursday, September 21st. Finally, TheStreet cut Newell Brands from a “b-” rating to a “c+” rating in a research report on Tuesday, November 14th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. Newell Brands presently has an average rating of “Hold” and an average price target of $49.57.
Shares of Newell Brands Inc. (NYSE NWL) traded up $0.38 during mid-day trading on Monday, reaching $28.56. The company had a trading volume of 5,645,400 shares, compared to its average volume of 4,601,242. The firm has a market cap of $14,000.00, a PE ratio of 9.95, a PEG ratio of 1.15 and a beta of 1.20. Newell Brands Inc. has a 1 year low of $27.45 and a 1 year high of $55.08. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.46 and a quick ratio of 0.86.
Newell Brands (NYSE:NWL) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.86 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.06). The company had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.71 billion. Newell Brands had a net margin of 8.34% and a return on equity of 11.52%. The business’s revenue was down 7.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 EPS. equities research analysts predict that Newell Brands Inc. will post 2.81 earnings per share for the current year.
Newell Brands announced that its Board of Directors has authorized a share buyback plan on Tuesday, September 26th that allows the company to repurchase $256.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend is Wednesday, November 29th. Newell Brands’s dividend payout ratio (DPR) is presently 35.52%.
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In other Newell Brands news, CEO Michael B. Polk acquired 5,000 shares of the stock in a transaction on Wednesday, September 13th. The shares were bought at an average price of $43.61 per share, with a total value of $218,050.00. Following the acquisition, the chief executive officer now owns 609,296 shares of the company’s stock, valued at $26,571,398.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott S. Cowen acquired 2,000 shares of the stock in a transaction on Monday, September 11th. The stock was acquired at an average cost of $43.60 per share, for a total transaction of $87,200.00. Following the acquisition, the director now directly owns 87,883 shares in the company, valued at approximately $3,831,698.80. 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 90 days. 0.97% of the stock is currently owned by insiders.
About Newell Brands
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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