AMP Capital Investors Ltd grew its position in shares of Newell Brands Inc. (NYSE:NWL) by 7.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 376,180 shares of the company’s stock after purchasing an additional 26,507 shares during the quarter. AMP Capital Investors Ltd owned 0.08% of Newell Brands worth $16,050,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in shares of Newell Brands by 112.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,850,876 shares of the company’s stock worth $742,686,000 after acquiring an additional 7,331,309 shares during the last quarter. Jennison Associates LLC acquired a new position in shares of Newell Brands in the 2nd quarter worth $124,839,000. Ameriprise Financial Inc. grew its holdings in shares of Newell Brands by 28.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,796,439 shares of the company’s stock worth $417,953,000 after acquiring an additional 1,709,917 shares during the last quarter. FIL Ltd acquired a new position in shares of Newell Brands in the 2nd quarter worth $76,301,000. Finally, Vanguard Group Inc. grew its holdings in shares of Newell Brands by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 47,877,545 shares of the company’s stock worth $2,567,193,000 after acquiring an additional 1,305,820 shares during the last quarter. Institutional investors own 94.40% of the company’s stock.
A number of equities analysts recently issued reports on the company. Barclays restated a “buy” rating and issued a $35.00 target price on shares of Newell Brands in a report on Wednesday. TheStreet cut Newell Brands from a “b-” rating to a “c+” rating in a report on Tuesday, November 14th. BMO Capital Markets decreased their target price on Newell Brands from $45.00 to $32.00 and set a “market perform” rating on the stock in a report on Tuesday, November 7th. Forward View restated a “buy” rating and issued a $35.00 target price on shares of Newell Brands in a report on Sunday, November 5th. Finally, Citigroup decreased their target price on Newell Brands from $63.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, November 3rd. Two analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. Newell Brands presently has an average rating of “Hold” and an average target price of $47.79.
Newell Brands Inc. (NYSE NWL) opened at $30.96 on Friday. Newell Brands Inc. has a twelve month low of $27.45 and a twelve month high of $55.08. The company has a current ratio of 1.46, a quick ratio of 0.86 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $15,168.60, a price-to-earnings ratio of 10.78, a PEG ratio of 1.25 and a beta of 1.10.
Newell Brands (NYSE:NWL) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Newell Brands had a net margin of 8.34% and a return on equity of 11.52%. The business had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter in the prior year, the firm posted $0.78 EPS. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. analysts expect that Newell Brands Inc. will post 2.81 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.97%. Newell Brands’s dividend payout ratio is 35.52%.
Newell Brands announced that its board has initiated a share repurchase plan on Tuesday, September 26th that permits the company to buyback $256.00 million in shares. This buyback authorization permits the company to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
About Newell Brands
Newell Brands Inc is a marketer of consumer and commercial products. The Company’s segments include Writing, Home Solutions, Commercial Products, Baby & Parenting, Branded Consumables, Consumer Solutions, Outdoor Solutions and Process Solutions. Its products are marketed under a portfolio of brands, including Paper Mate, Sharpie, Dymo, Expo, Parker, Elmer’s, Coleman, Jostens, Marmot, Rawlings, Mr.
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