Nordea Investment Management AB Has $856,000 Stake in Newell Brands Inc. (NWL)
Nordea Investment Management AB decreased its position in shares of Newell Brands Inc. (NYSE:NWL) by 88.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,062 shares of the company’s stock after selling 150,990 shares during the quarter. Nordea Investment Management AB’s holdings in Newell Brands were worth $856,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of NWL. Strs Ohio grew its stake in shares of Newell Brands by 3.7% during the 2nd quarter. Strs Ohio now owns 15,544 shares of the company’s stock worth $833,000 after purchasing an additional 555 shares during the period. Janney Montgomery Scott LLC grew its stake 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 worth $952,000 after purchasing an additional 776 shares during the period. Candriam Luxembourg S.C.A. grew its stake in shares of Newell Brands by 7.2% during the 2nd quarter. Candriam Luxembourg S.C.A. now owns 31,520 shares of the company’s stock worth $1,690,000 after purchasing an additional 2,120 shares during the period. IFP Advisors Inc grew its stake in shares of Newell Brands by 5.4% during the 2nd quarter. IFP Advisors Inc now owns 4,789 shares of the company’s stock worth $257,000 after purchasing an additional 245 shares during the period. Finally, Pictet Asset Management Ltd. grew its stake in shares of Newell Brands by 25.0% during the 2nd quarter. Pictet Asset Management Ltd. now owns 352,739 shares of the company’s stock worth $18,678,000 after purchasing an additional 70,481 shares during the period. 94.40% of the stock is currently owned by institutional investors and hedge funds.
Newell Brands Inc. (NWL) opened at $30.96 on Friday. Newell Brands Inc. has a 52-week low of $27.45 and a 52-week high of $55.08. The stock has a market capitalization of $15,168.60, a P/E ratio of 10.78, a PEG ratio of 1.25 and a beta of 1.10. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.86 and a current ratio of 1.46.
Newell Brands (NYSE:NWL) last announced its quarterly earnings data on Thursday, November 2nd. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). The firm had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.71 billion. Newell Brands had a net margin of 8.34% and a return on equity of 11.52%. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.78 EPS. analysts expect that Newell Brands Inc. will post 2.81 earnings per share for the current fiscal year.
The company also recently disclosed 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 of this dividend is Wednesday, November 29th. This represents a $0.92 dividend on an annualized basis and a yield of 2.97%. Newell Brands’s payout ratio is currently 35.52%.
Newell Brands declared that its Board of Directors has authorized a share repurchase plan on Tuesday, September 26th that permits the company to repurchase $256.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
A number of brokerages have recently commented on NWL. Barclays reaffirmed a “buy” rating and set a $35.00 price objective on shares of Newell Brands in a research note on Wednesday. TheStreet lowered Newell Brands from a “b-” rating to a “c+” rating in a research report on Tuesday, November 14th. BMO Capital Markets decreased their target price on Newell Brands from $45.00 to $32.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 7th. Forward View reiterated a “buy” rating and set a $35.00 target price on shares of Newell Brands in a research report on Sunday, November 5th. Finally, Citigroup decreased their target price on Newell Brands from $63.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. 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’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $47.79.
In other news, Director Scott S. Cowen acquired 2,000 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were bought at an average price of $43.60 per share, for a total transaction of $87,200.00. Following the acquisition, the director now owns 87,883 shares of the company’s stock, valued at approximately $3,831,698.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael B. Polk acquired 5,000 shares of the firm’s stock in a transaction 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 approximately $26,571,398.56. The disclosure for this purchase can be found here. Insiders acquired a total of 14,100 shares of company stock worth $507,255 in the last 90 days. 0.97% of the stock is currently owned by insiders.
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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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