Chevy Chase Trust Holdings Inc. Grows Holdings in Newell Brands Inc. (NWL)
Chevy Chase Trust Holdings Inc. raised its holdings in shares of Newell Brands Inc. (NYSE:NWL) by 2.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 427,451 shares of the company’s stock after purchasing an additional 10,739 shares during the period. Chevy Chase Trust Holdings Inc. owned 0.09% of Newell Brands worth $18,240,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Newell Brands by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 47,877,545 shares of the company’s stock valued at $2,567,193,000 after purchasing an additional 1,305,820 shares during the period. Capital World Investors lifted its position in Newell Brands by 2.0% during the 2nd quarter. Capital World Investors now owns 31,195,887 shares of the company’s stock valued at $1,672,723,000 after purchasing an additional 610,973 shares during the period. BlackRock Inc. lifted its position in Newell Brands by 1.8% during the 2nd quarter. BlackRock Inc. now owns 30,518,491 shares of the company’s stock valued at $1,636,402,000 after purchasing an additional 543,779 shares during the period. Bank of New York Mellon Corp lifted its position 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 valued at $742,686,000 after purchasing an additional 7,331,309 shares during the period. Finally, FMR LLC lifted its position in Newell Brands by 0.5% during the 2nd quarter. FMR LLC now owns 11,462,512 shares of the company’s stock valued at $614,621,000 after purchasing an additional 52,553 shares during the period. Institutional investors own 94.40% of the company’s stock.
A number of research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Newell Brands from a “hold” rating to a “sell” rating in a research report on Tuesday, September 19th. Jefferies Group downgraded shares of Newell Brands from a “buy” rating to a “hold” rating and cut their target price for the company from $63.00 to $49.00 in a research report on Monday, September 11th. BMO Capital Markets reiterated a “market perform” rating and issued a $45.00 price target (down from $51.00) on shares of Newell Brands in a research report on Thursday, September 21st. J P Morgan Chase & Co cut their price target on shares of 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, Oppenheimer reiterated a “hold” rating and issued a $50.00 price target on shares of Newell Brands in a research report on Wednesday, September 6th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $47.79.
In other Newell Brands news, CEO Michael B. Polk purchased 7,000 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was bought 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 acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael B. Polk purchased 5,000 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were acquired at an average cost of $43.61 per share, with a total value of $218,050.00. Following the completion of the purchase, 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. Over the last three months, insiders have purchased 12,100 shares of company stock valued at $420,055. 0.97% of the stock is owned by company insiders.
Newell Brands Inc. (NYSE:NWL) traded up $0.31 during midday trading on Tuesday, reaching $31.23. The company had a trading volume of 1,039,629 shares, compared to its average volume of 4,789,197. Newell Brands Inc. has a twelve month low of $27.45 and a twelve month 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 company has a market cap of $15,168.60, a PE ratio of 10.78, a price-to-earnings-growth ratio of 1.25 and a beta of 1.10.
Newell Brands (NYSE:NWL) last posted its earnings results 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). Newell Brands had a return on equity of 11.52% and a net margin of 8.34%. The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same period in the previous year, the company posted $0.78 earnings per share. Newell Brands’s revenue for the quarter was down 7.0% compared to the same quarter last year. analysts anticipate that Newell Brands Inc. will post 2.81 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a dividend of $0.23 per share. 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 2.95%. Newell Brands’s payout ratio is 35.52%.
Newell Brands declared that its Board of Directors has authorized a stock repurchase program on Tuesday, September 26th that allows the company to buyback $256.00 million in shares. This buyback authorization allows the company to purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.
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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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