Victory Capital Management Inc. Reduces Holdings in Newell Brands Inc (NWL)

Victory Capital Management Inc. reduced its position in Newell Brands Inc (NYSE:NWL) by 91.6% during the 4th quarter, Holdings Channel reports. The firm owned 125,341 shares of the company’s stock after selling 1,360,297 shares during the quarter. Victory Capital Management Inc.’s holdings in Newell Brands were worth $3,873,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of NWL. Janus Henderson Group PLC increased its position in Newell Brands by 54.8% in the 2nd quarter. Janus Henderson Group PLC now owns 87,762 shares of the company’s stock worth $4,706,000 after purchasing an additional 31,072 shares during the last quarter. WINTON GROUP Ltd acquired a new position in Newell Brands in the 2nd quarter worth about $202,000. Cetera Investment Advisers acquired a new position in Newell Brands in the 2nd quarter worth about $263,000. Shell Asset Management Co. increased its holdings in shares of Newell Brands by 39.9% during the 3rd quarter. Shell Asset Management Co. now owns 40,213 shares of the company’s stock valued at $1,384,000 after acquiring an additional 11,462 shares during the last quarter. Finally, Mutual of America Capital Management LLC increased its holdings in shares of Newell Brands by 2.5% during the 3rd quarter. Mutual of America Capital Management LLC now owns 60,341 shares of the company’s stock valued at $2,575,000 after acquiring an additional 1,451 shares during the last quarter. 91.23% of the stock is currently owned by institutional investors.

In other Newell Brands news, CEO Michael B. Polk bought 7,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was purchased at an average price of $28.22 per share, for a total transaction of $197,540.00. Following the purchase, the chief executive officer now directly owns 616,296 shares in the company, valued at $17,391,873.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.97% of the stock is owned by corporate insiders.

NWL has been the topic of a number of analyst reports. Oppenheimer reissued a “hold” rating and set a $42.00 price objective on shares of Newell Brands in a report on Tuesday, October 31st. JPMorgan Chase & Co. lowered Newell Brands from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $56.00 to $63.00 in a report on Thursday, November 2nd. Royal Bank of Canada lowered Newell Brands from a “top pick” rating to an “outperform” rating and lowered their price objective for the company from $60.00 to $35.00 in a report on Friday, November 3rd. Raymond James Financial reissued a “market perform” rating on shares of Newell Brands in a report on Friday, November 3rd. Finally, Morgan Stanley lowered their price objective on Newell Brands from $54.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, November 3rd. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $37.71.

Shares of Newell Brands Inc (NWL) opened at $28.23 on Friday. Newell Brands Inc has a 52 week low of $23.85 and a 52 week high of $55.08. The firm has a market capitalization of $13,835.52, a P/E ratio of 10.27, a P/E/G ratio of 1.33 and a beta of 0.90. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.86 and a current ratio of 1.46.

Newell Brands (NYSE:NWL) last announced its earnings results on Friday, February 16th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.01. Newell Brands had a return on equity of 11.52% and a net margin of 8.34%. The firm had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the prior year, the company earned $0.80 EPS. The firm’s revenue for the quarter was down 9.5% compared to the same quarter last year. equities analysts forecast that Newell Brands Inc will post 2.7 earnings per share for the current year.

Newell Brands announced that its Board of Directors has authorized a stock repurchase plan on Thursday, November 2nd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 28th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $0.92 annualized dividend and a yield of 3.26%. Newell Brands’s payout ratio is 16.34%.

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Newell Brands Profile

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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Institutional Ownership by Quarter for Newell Brands (NYSE:NWL)

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