Stevens Capital Management LP Buys New Shares in Newell Brands Inc (NYSE:NWL)
Stevens Capital Management LP bought a new stake in shares of Newell Brands Inc (NYSE:NWL) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 50,884 shares of the company’s stock, valued at approximately $978,000.
A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in Newell Brands by 8.3% during the second quarter. BlackRock Inc. now owns 48,793,194 shares of the company’s stock valued at $752,391,000 after purchasing an additional 3,743,507 shares during the last quarter. State Street Corp raised its holdings in shares of Newell Brands by 0.3% during the third quarter. State Street Corp now owns 18,978,411 shares of the company’s stock valued at $355,276,000 after acquiring an additional 66,132 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Newell Brands by 30.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,370,960 shares of the company’s stock valued at $100,544,000 after acquiring an additional 1,259,111 shares during the period. Minneapolis Portfolio Management Group LLC increased its stake in Newell Brands by 34.9% in the 3rd quarter. Minneapolis Portfolio Management Group LLC now owns 1,853,715 shares of the company’s stock valued at $34,702,000 after buying an additional 479,188 shares during the period. Finally, Parametric Portfolio Associates LLC increased its stake in Newell Brands by 21.7% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,740,827 shares of the company’s stock valued at $32,588,000 after buying an additional 310,157 shares during the period. 98.42% of the stock is owned by institutional investors and hedge funds.
Several research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Newell Brands from a “sell” rating to a “hold” rating and set a $21.00 price objective on the stock in a research note on Friday, January 17th. TheStreet upgraded shares of Newell Brands from a “d” rating to a “c-” rating in a research note on Friday, November 1st. Finally, Consumer Edge lowered shares of Newell Brands from an “equal weight” rating to an “underweight” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $19.78.
Newell Brands (NYSE:NWL) last released its quarterly earnings data on Friday, February 14th. The company reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.03. Newell Brands had a negative net margin of 46.92% and a positive return on equity of 9.55%. The firm had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the prior year, the business earned $0.71 EPS. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. Analysts anticipate that Newell Brands Inc will post 1.22 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $0.92 annualized dividend and a dividend yield of 4.55%. Newell Brands’s dividend payout ratio (DPR) is 33.45%.
About Newell Brands
Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. The company's Live segment offers household products, including kitchen appliances, gourmet cookware, bakeware and cutlery, food storage and home storage products, fresh preserving products, and home fragrance products; and baby gear, infant care, and health products primarily under Aprica, Baby Jogger, Ball, Calphalon, Chesapeake Bay Candle, Crock-Pot, FoodSaver, Graco, Mr.
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