KG&L Capital Management LLC trimmed its position in Newell Brands Inc (NYSE:NWL) by 5.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 12,295 shares of the company’s stock after selling 650 shares during the quarter. KG&L Capital Management LLC’s holdings in Newell Brands were worth $230,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of NWL. Coastal Investment Advisors Inc. boosted its holdings in Newell Brands by 218.2% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 1,909 shares of the company’s stock worth $29,000 after buying an additional 1,309 shares during the last quarter. Westside Investment Management Inc. acquired a new position in shares of Newell Brands during the 2nd quarter worth approximately $30,000. Phocas Financial Corp. acquired a new position in shares of Newell Brands during the 2nd quarter worth approximately $35,000. Lenox Wealth Advisors LLC acquired a new position in shares of Newell Brands during the 3rd quarter worth approximately $35,000. Finally, LifePlan Financial Group Inc acquired a new position in shares of Newell Brands during the 2nd quarter worth approximately $40,000. Institutional investors own 98.42% of the company’s stock.
Several research analysts have recently weighed in on NWL shares. Deutsche Bank lowered their target price on Newell Brands from $18.00 to $16.00 and set a “hold” rating on the stock in a report on Monday, August 5th. Wells Fargo & Co restated a “buy” rating on shares of Newell Brands in a report on Wednesday, July 31st. SunTrust Banks upgraded Newell Brands from a “hold” rating to a “buy” rating and boosted their target price for the stock from $15.00 to $25.00 in a report on Monday, September 30th. Morgan Stanley boosted their target price on Newell Brands from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Barclays restated a “hold” rating on shares of Newell Brands in a report on Wednesday, August 7th. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Newell Brands presently has a consensus rating of “Hold” and a consensus target price of $20.10.
Newell Brands (NYSE:NWL) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.09. The firm had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.12 billion. Newell Brands had a negative net margin of 46.92% and a positive return on equity of 9.55%. During the same quarter in the previous year, the company earned $0.82 EPS. As a group, equities research analysts expect that Newell Brands Inc will post 1.22 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 4.86%. The ex-dividend date of this dividend was Thursday, August 29th. Newell Brands’s payout ratio is presently 33.45%.
In other news, Director Michael Todman purchased 5,000 shares of Newell Brands stock in a transaction dated Thursday, August 15th. The shares were purchased at an average price of $15.76 per share, with a total value of $78,800.00. Following the transaction, the director now owns 72,184 shares in the company, valued at $1,137,619.84. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.97% of the stock is currently owned by insiders.
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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