Rhumbline Advisers reduced its stake in Newell Brands Inc (NYSE:NWL) by 5.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 692,192 shares of the company’s stock after selling 39,593 shares during the period. Rhumbline Advisers owned 0.15% of Newell Brands worth $14,051,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of NWL. Pzena Investment Management LLC acquired a new position in shares of Newell Brands during the second quarter worth approximately $427,655,000. Wells Fargo & Company MN boosted its position in shares of Newell Brands by 90.9% during the second quarter. Wells Fargo & Company MN now owns 1,843,491 shares of the company’s stock worth $47,544,000 after buying an additional 877,661 shares during the period. First Trust Advisors LP boosted its position in shares of Newell Brands by 241.2% during the second quarter. First Trust Advisors LP now owns 1,178,641 shares of the company’s stock worth $30,397,000 after buying an additional 833,230 shares during the period. AMS Capital Ltda bought a new stake in Newell Brands during the second quarter worth approximately $12,895,000. Finally, OppenheimerFunds Inc. raised its holdings in Newell Brands by 5.4% during the second quarter. OppenheimerFunds Inc. now owns 9,095,209 shares of the company’s stock worth $234,565,000 after purchasing an additional 462,697 shares in the last quarter.
NWL has been the topic of several recent analyst reports. Bank of America dropped their target price on Newell Brands from $25.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, October 4th. Citigroup dropped their target price on Newell Brands from $36.00 to $29.00 and set a “buy” rating on the stock in a report on Wednesday, August 8th. Wells Fargo & Co reissued a “buy” rating on shares of Newell Brands in a report on Friday, November 2nd. Morgan Stanley set a $23.00 target price on Newell Brands and gave the stock a “hold” rating in a report on Tuesday, November 6th. Finally, TheStreet cut Newell Brands from a “c” rating to a “d” rating in a report on Friday, November 2nd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $26.60.
Newell Brands (NYSE:NWL) last released its earnings results on Friday, November 2nd. The company reported $0.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.55. The firm had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.34 billion. Newell Brands had a negative net margin of 46.92% and a positive return on equity of 9.55%. The business’s revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.86 EPS. Equities analysts forecast that Newell Brands Inc will post 1.22 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend is Thursday, November 29th. Newell Brands’s dividend payout ratio is 33.45%.
In related news, Director Brett Icahn acquired 100,000 shares of the business’s stock in a transaction dated Monday, November 12th. The stock was acquired at an average price 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 is accessible through this hyperlink. 0.97% of the stock is owned by insiders.
Newell Brands Company 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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