Balter Liquid Alternatives LLC Invests $215,000 in Newell Brands Inc (NWL)
Balter Liquid Alternatives LLC bought a new stake in shares of Newell Brands Inc (NYSE:NWL) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,966 shares of the company’s stock, valued at approximately $215,000.
Other institutional investors have also made changes to their positions in the company. Parkside Investments LLC bought a new position in shares of Newell Brands during the third quarter valued at approximately $107,000. Cerebellum GP LLC bought a new position in shares of Newell Brands during the fourth quarter valued at approximately $123,000. WINTON GROUP Ltd bought a new position in shares of Newell Brands during the second quarter valued at approximately $202,000. Patten Group Inc. raised its holdings in shares of Newell Brands by 5,263.6% during the fourth quarter. Patten Group Inc. now owns 6,919 shares of the company’s stock valued at $214,000 after acquiring an additional 6,790 shares in the last quarter. Finally, Belpointe Asset Management LLC bought a new position in shares of Newell Brands during the third quarter valued at approximately $226,000. Institutional investors own 91.23% of the company’s stock.
In related news, CEO Michael B. Polk purchased 7,000 shares of Newell Brands stock in a transaction dated Monday, November 20th. The stock was purchased at an average cost of $28.22 per share, for a total transaction of $197,540.00. Following the completion of the acquisition, 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 legal filing with the SEC, which is available at this link. 0.97% of the stock is owned by company insiders.
Newell Brands declared that its Board of Directors has authorized a stock repurchase plan on Thursday, November 2nd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
NWL has been the subject of a number of recent analyst reports. Jefferies Group restated a “hold” rating and set a $47.00 target price on shares of Newell Brands in a report on Thursday, October 19th. ValuEngine downgraded Newell Brands from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Citigroup decreased their price objective on Newell Brands from $63.00 to $42.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Barclays reiterated a “buy” rating and issued a $35.00 price objective on shares of Newell Brands in a report on Wednesday, December 6th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Newell Brands in a report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $39.18.
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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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