Hartford Investment Management Co. decreased its holdings in shares of Newell Brands Inc (NYSE:NWL) by 12.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,131 shares of the company’s stock after selling 6,769 shares during the period. Hartford Investment Management Co.’s holdings in Newell Brands were worth $977,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Truvestments Capital LLC bought a new stake in shares of Newell Brands during the 3rd quarter valued at about $108,000. Piedmont Investment Advisors LLC bought a new stake in shares of Newell Brands during the 2nd quarter valued at about $146,000. Qube Research & Technologies Ltd bought a new stake in shares of Newell Brands during the 2nd quarter valued at about $149,000. BlueMountain Capital Management LLC acquired a new position in Newell Brands during the 2nd quarter worth approximately $151,000. Finally, Steward Partners Investment Advisory LLC raised its stake in Newell Brands by 277.7% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 5,948 shares of the company’s stock worth $121,000 after buying an additional 4,373 shares during the period.
A number of research analysts recently weighed in on NWL shares. Citigroup dropped their price target on Newell Brands from $36.00 to $29.00 and set a “buy” rating on the stock in a research note on Wednesday, August 8th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Newell Brands in a research note on Friday, November 2nd. TheStreet downgraded Newell Brands from a “c” rating to a “d” rating in a research note on Friday, November 2nd. Royal Bank of Canada reaffirmed a “hold” rating and set a $24.00 price target on shares of Newell Brands in a research note on Wednesday, August 8th. Finally, BMO Capital Markets dropped their price target on Newell Brands from $27.00 to $25.00 and set a “hold” rating on the stock in a research note on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Newell Brands currently has an average rating of “Hold” and an average target price of $26.60.
Newell Brands (NYSE:NWL) last issued its quarterly earnings data on Friday, November 2nd. The company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.26 by $0.55. The firm had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.34 billion. Newell Brands had a positive return on equity of 9.55% and a negative net margin of 46.92%. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.86 earnings per share. On average, equities research analysts predict that Newell Brands Inc will post 1.22 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 4.23%. The ex-dividend date is Thursday, November 29th. Newell Brands’s dividend payout ratio (DPR) is presently 33.45%.
In related news, Director Brett Icahn acquired 100,000 shares of the stock in a transaction dated Monday, November 12th. The stock was purchased at an average cost of $20.03 per share, with a total value of $2,003,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.97% of the company’s stock.
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Newell Brands Profile
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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