Pinnacle Associates Ltd. decreased its position in Newell Brands Inc (NYSE:NWL) by 36.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 76,990 shares of the company’s stock after selling 44,823 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Newell Brands were worth $1,187,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Coastal Investment Advisors Inc. raised its stake in Newell Brands by 218.2% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 1,909 shares of the company’s stock valued at $29,000 after purchasing an additional 1,309 shares during the last quarter. FinTrust Capital Advisors LLC acquired a new position in Newell Brands in the 1st quarter valued at about $31,000. Westside Investment Management Inc. acquired a new position in Newell Brands in the 2nd quarter valued at about $30,000. LifePlan Financial Group Inc acquired a new position in Newell Brands in the 2nd quarter valued at about $40,000. Finally, CSat Investment Advisory L.P. raised its stake in Newell Brands by 163.6% in the 1st quarter. CSat Investment Advisory L.P. now owns 3,110 shares of the company’s stock valued at $48,000 after purchasing an additional 1,930 shares during the last quarter. 98.42% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on the stock. Wells Fargo & Co reaffirmed a “buy” rating on shares of Newell Brands in a research note on Wednesday, July 31st. Consumer Edge assumed coverage on shares of Newell Brands in a research note on Wednesday, July 3rd. They set a “hold” rating for the company. Barclays reaffirmed a “hold” rating on shares of Newell Brands in a research note on Wednesday, August 7th. Finally, Deutsche Bank dropped their price objective on shares of Newell Brands from $18.00 to $16.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Ten investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $20.30.
NYSE NWL opened at $16.41 on Friday. Newell Brands Inc has a 12 month low of $13.04 and a 12 month high of $24.57. The company has a 50-day moving average of $15.16 and a 200-day moving average of $15.64. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.98 and a quick ratio of 2.53. The company has a market cap of $6.90 billion, a P/E ratio of 5.97, a P/E/G ratio of 3.82 and a beta of 0.90.
Newell Brands (NYSE:NWL) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.09. Newell Brands had a negative net margin of 46.92% and a positive return on equity of 9.55%. The company had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.12 billion. During the same quarter in the prior year, the company posted $0.82 EPS. As a group, equities research analysts anticipate that Newell Brands Inc will post 1.22 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 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 5.61%. The ex-dividend date is Thursday, August 29th. Newell Brands’s dividend payout ratio (DPR) is presently 33.45%.
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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