Chicago Equity Partners LLC acquired a new position in shares of Newell Brands Inc. (NYSE:NWL) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,935 shares of the company’s stock, valued at approximately $425,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sit Investment Associates Inc. raised its stake in Newell Brands by 727.6% during the second quarter. Sit Investment Associates Inc. now owns 191,175 shares of the company’s stock worth $10,251,000 after acquiring an additional 168,075 shares during the period. Quantbot Technologies LP increased its stake in shares of Newell Brands by 396.0% in the first quarter. Quantbot Technologies LP now owns 87,695 shares of the company’s stock valued at $4,136,000 after purchasing an additional 70,014 shares during the period. Bellwether Investment Group LLC increased its stake in shares of Newell Brands by 2.0% in the second quarter. Bellwether Investment Group LLC now owns 5,501 shares of the company’s stock valued at $295,000 after purchasing an additional 110 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Newell Brands by 10.8% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 961,051 shares of the company’s stock valued at $51,532,000 after purchasing an additional 93,400 shares during the period. Finally, King Luther Capital Management Corp increased its stake in shares of Newell Brands by 3.8% in the first quarter. King Luther Capital Management Corp now owns 3,172,430 shares of the company’s stock valued at $149,644,000 after purchasing an additional 114,855 shares during the period. Hedge funds and other institutional investors own 92.43% of the company’s stock.
Several equities research analysts have commented on NWL shares. Zacks Investment Research upgraded shares of Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Tuesday, August 1st. Jefferies Group LLC restated a “buy” rating and issued a $65.00 price target (down previously from $66.00) on shares of Newell Brands in a research note on Monday, August 7th. BidaskClub upgraded shares of Newell Brands from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. Royal Bank Of Canada restated a “buy” rating and issued a $60.00 price target on shares of Newell Brands in a research note on Thursday, June 8th. Finally, J P Morgan Chase & Co set a $61.00 price target on shares of Newell Brands and gave the company a “buy” rating in a research note on Monday, August 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $57.36.
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Newell Brands Inc. (NYSE:NWL) opened at 44.35 on Wednesday. Newell Brands Inc. has a 12-month low of $42.88 and a 12-month high of $55.08. The company has a market capitalization of $21.74 billion, a PE ratio of 17.71 and a beta of 1.19. The stock has a 50 day moving average of $49.68 and a 200 day moving average of $50.29.
Newell Brands (NYSE:NWL) last announced its earnings results on Friday, August 4th. The company reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.01. Newell Brands had a net margin of 7.87% and a return on equity of 11.47%. The company had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the previous year, the firm posted $0.78 earnings per share. The company’s revenue was up 5.1% on a year-over-year basis. On average, equities research analysts predict that Newell Brands Inc. will post $3.01 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Tuesday, August 29th. Newell Brands’s dividend payout ratio is presently 36.95%.
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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