Legal & General Group Plc Purchases 32,160 Shares of Newell Brands Inc. (NWL)
Legal & General Group Plc grew its position in shares of Newell Brands Inc. (NYSE:NWL) by 1.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,233,051 shares of the company’s stock after buying an additional 32,160 shares during the period. Legal & General Group Plc owned 0.46% of Newell Brands worth $95,281,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of NWL. Russell Investments Group Ltd. lifted its position in shares of Newell Brands by 576.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 437,011 shares of the company’s stock valued at $23,432,000 after buying an additional 372,396 shares during the last quarter. Strs Ohio lifted its position in shares of Newell Brands by 3.7% during the 2nd quarter. Strs Ohio now owns 15,544 shares of the company’s stock valued at $833,000 after buying an additional 555 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its position in shares of Newell Brands by 80.7% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 28,030 shares of the company’s stock valued at $1,503,000 after buying an additional 12,520 shares during the last quarter. Harbour Capital Advisors LLC lifted its position in shares of Newell Brands by 3,809.4% during the 2nd quarter. Harbour Capital Advisors LLC now owns 66,382 shares of the company’s stock valued at $1,238,000 after buying an additional 64,684 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of Newell Brands by 4.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 17,753 shares of the company’s stock valued at $952,000 after buying an additional 776 shares during the last quarter. 94.39% of the stock is currently owned by hedge funds and other institutional investors.
In other Newell Brands news, Director Scott S. Cowen purchased 2,000 shares of the stock in a transaction on Monday, September 11th. The shares were purchased at an average price of $43.60 per share, with a total value 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael B. Polk purchased 5,000 shares of the stock in a transaction on Wednesday, September 13th. The stock was acquired at an average cost of $43.61 per share, for a total transaction of $218,050.00. Following the acquisition, the chief executive officer now owns 609,296 shares in the company, valued at $26,571,398.56. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 14,100 shares of company stock worth $507,255. Insiders own 0.97% of the company’s stock.
A number of research analysts have recently commented on the company. J P Morgan Chase & Co set a $61.00 price target on Newell Brands and gave the company a “buy” rating in a research report on Monday, August 7th. Jefferies Group reaffirmed a “buy” rating and set a $65.00 price target (down previously from $66.00) on shares of Newell Brands in a research report on Monday, August 7th. BMO Capital Markets set a $51.00 price objective on Newell Brands and gave the stock a “hold” rating in a report on Saturday, August 5th. Oppenheimer reissued a “hold” rating and set a $50.00 price objective on shares of Newell Brands in a report on Wednesday, September 6th. Finally, BidaskClub cut Newell Brands from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. Newell Brands has a consensus rating of “Hold” and a consensus target price of $49.57.
Shares of Newell Brands Inc. (NYSE NWL) traded up $0.54 on Friday, reaching $31.51. The company had a trading volume of 9,404,472 shares, compared to its average volume of 8,835,882. The stock has a market cap of $15,178.40, a PE ratio of 10.79, a price-to-earnings-growth ratio of 1.25 and a beta of 1.11. 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 Inc. has a twelve month low of $27.45 and a twelve month high of $55.08.
Newell Brands (NYSE:NWL) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations 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 for the quarter was down 7.0% on a year-over-year basis. During the same period last year, the company posted $0.78 EPS. research analysts predict that Newell Brands Inc. will post 2.81 earnings per share for the current year.
Newell Brands announced that its board has authorized a stock repurchase 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 an indication that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders 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 dividend yield of 2.92%. Newell Brands’s 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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