Trexquant Investment LP Acquires New Stake in Newell Brands Inc. (NWL)
Trexquant Investment LP acquired a new position in Newell Brands Inc. (NYSE:NWL) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 16,935 shares of the company’s stock, valued at approximately $723,000.
A number of other institutional investors also recently added to or reduced their stakes in NWL. BDO Wealth Advisors LLC acquired a new position in shares of Newell Brands during the 2nd quarter worth approximately $107,000. Parkside Investments LLC acquired a new position in shares of Newell Brands during the 3rd quarter worth approximately $107,000. Harfst & Associates Inc. raised its stake in shares of Newell Brands by 14.4% during the 2nd quarter. Harfst & Associates Inc. now owns 2,502 shares of the company’s stock worth $134,000 after buying an additional 315 shares during the period. BB&T Investment Services Inc. acquired a new position in shares of Newell Brands during the 2nd quarter worth approximately $143,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake 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 worth $169,000 after buying an additional 1,088 shares during the period. Institutional investors and hedge funds own 94.39% of the company’s stock.
In related news, CEO Michael B. Polk bought 7,000 shares of the business’s stock in a transaction on Monday, November 20th. The stock was acquired at an average cost of $28.22 per share, with a total value of $197,540.00. Following the purchase, the chief executive officer now directly owns 616,296 shares of the company’s stock, valued at $17,391,873.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Scott S. Cowen bought 2,000 shares of the business’s stock in a transaction on Monday, September 11th. The stock was bought 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. Over the last three months, insiders purchased 14,100 shares of company stock valued at $507,255. 0.97% of the stock is owned by corporate insiders.
NWL has been the subject of several research analyst reports. Raymond James Financial reaffirmed a “market perform” rating on shares of Newell Brands in a research note on Friday, November 3rd. Jefferies Group reaffirmed a “hold” rating and set a $47.00 target price on shares of Newell Brands in a research note on Thursday, October 19th. Morgan Stanley reduced their target price on Newell Brands from $54.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, November 3rd. Forward View reaffirmed a “buy” rating and set a $35.00 target price on shares of Newell Brands in a research note on Sunday, November 5th. Finally, J P Morgan Chase & Co downgraded Newell Brands from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $56.00 to $63.00 in a research note on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $49.57.
Newell Brands Inc. (NYSE:NWL) traded down $0.27 during midday trading on Thursday, reaching $30.51. The company had a trading volume of 5,891,000 shares, compared to its average volume of 4,705,335. Newell Brands Inc. has a 1 year low of $27.45 and a 1 year high of $55.08. The company has a current ratio of 1.46, a quick ratio of 0.86 and a debt-to-equity ratio of 0.80. The firm has a market cap of $15,085.28, a P/E ratio of 10.73, a P/E/G ratio of 1.24 and a beta of 1.20.
Newell Brands (NYSE:NWL) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.86 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.06). Newell Brands had a net margin of 8.34% and a return on equity of 11.52%. The firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same period in the prior year, the company posted $0.78 earnings per share. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. research analysts predict that Newell Brands Inc. will post 2.81 EPS for the current fiscal year.
Newell Brands announced that its Board of Directors has initiated a share repurchase program on Tuesday, September 26th that authorizes the company to repurchase $256.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.02%. The ex-dividend date is Wednesday, November 29th. Newell Brands’s dividend payout ratio is currently 35.52%.
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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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