Bristol Gate Capital Partners Inc. grew its stake in shares of Newell Brands Inc. (NYSE:NWL) by 28.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 701,978 shares of the company’s stock after purchasing an additional 155,967 shares during the quarter. Newell Brands makes up 4.5% of Bristol Gate Capital Partners Inc.’s portfolio, making the stock its 21st largest holding. Bristol Gate Capital Partners Inc. owned about 0.14% of Newell Brands worth $29,953,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently bought and sold shares of NWL. Bank of New York Mellon Corp grew its holdings in shares of Newell Brands by 112.5% during the second quarter. Bank of New York Mellon Corp now owns 13,850,876 shares of the company’s stock valued at $742,686,000 after purchasing an additional 7,331,309 shares during the last quarter. Jennison Associates LLC bought a new position in shares of Newell Brands during the second quarter valued at approximately $124,839,000. Ameriprise Financial Inc. grew its holdings in shares of Newell Brands by 28.1% during the second quarter. Ameriprise Financial Inc. now owns 7,796,439 shares of the company’s stock valued at $417,953,000 after purchasing an additional 1,709,917 shares during the last quarter. FIL Ltd bought a new position in shares of Newell Brands during the second quarter valued at approximately $76,301,000. Finally, Vanguard Group Inc. grew its holdings in shares of Newell Brands by 2.8% during the second quarter. Vanguard Group Inc. now owns 47,877,545 shares of the company’s stock valued at $2,567,193,000 after purchasing an additional 1,305,820 shares during the last quarter. 91.42% of the stock is owned by institutional investors.
Newell Brands Inc. (NYSE:NWL) traded down $0.83 on Tuesday, reaching $28.47. The company’s stock had a trading volume of 13,274,400 shares, compared to its average volume of 4,552,651. The firm has a market capitalization of $13,950.00, a P/E ratio of 10.21, a price-to-earnings-growth ratio of 1.03 and a beta of 1.20. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.46 and a quick ratio of 0.86. Newell Brands Inc. has a 12-month low of $28.11 and a 12-month high of $55.08.
Newell Brands (NYSE:NWL) last released its 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 return on equity of 11.52% and a net margin of 8.34%. The firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same quarter last year, the company earned $0.78 earnings per share. The business’s revenue for the quarter was down 7.0% on a year-over-year basis. research analysts predict that Newell Brands Inc. will post 2.81 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, November 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.23%. Newell Brands’s dividend payout ratio (DPR) is presently 35.52%.
Newell Brands announced that its board has initiated a share buyback plan on Tuesday, September 26th that allows the company to repurchase $256.00 million in shares. This repurchase authorization allows the company to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
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Several equities analysts have recently commented on NWL shares. Jefferies Group LLC reaffirmed a “hold” rating and set a $47.00 target price on shares of Newell Brands in a report on Thursday, October 19th. Royal Bank Of Canada reaffirmed a “top pick” rating and set a $60.00 target price on shares of Newell Brands in a report on Tuesday, August 29th. Citigroup Inc. lowered their target price on Newell Brands from $63.00 to $42.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Morgan Stanley lowered their target price on Newell Brands from $54.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, November 3rd. Finally, Zacks Investment Research lowered Newell Brands from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $49.57.
In related news, Director Scott S. Cowen acquired 2,000 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was bought at an average price of $43.60 per share, for a total transaction of $87,200.00. Following the transaction, the director now owns 87,883 shares of the company’s stock, valued at $3,831,698.80. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Michael B. Polk acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were bought at an average price of $43.61 per share, with a total value of $218,050.00. Following the transaction, the chief executive officer now directly owns 609,296 shares in the company, valued at approximately $26,571,398.56. The disclosure for this purchase can be found here. Insiders have bought a total of 7,100 shares of company stock valued at $309,715 in the last quarter. Insiders own 0.97% of the company’s stock.
Newell Brands Company 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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