AMS Capital Ltda purchased a new position in shares of Newell Brands Inc (NYSE:NWL) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 19,220 shares of the company’s stock, valued at approximately $594,000. Newell Brands comprises approximately 0.3% of AMS Capital Ltda’s portfolio, making the stock its 18th largest position.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in NWL. Parkside Investments LLC bought a new stake in Newell Brands during the 3rd quarter valued at approximately $107,000. Cerebellum GP LLC bought a new stake in Newell Brands during the 4th quarter valued at approximately $123,000. WINTON GROUP Ltd bought a new stake in Newell Brands during the 2nd quarter valued at approximately $202,000. Patten Group Inc. boosted its stake in Newell Brands by 5,263.6% during the 4th quarter. Patten Group Inc. now owns 6,919 shares of the company’s stock valued at $214,000 after purchasing an additional 6,790 shares during the period. Finally, Balter Liquid Alternatives LLC bought a new stake in Newell Brands during the 4th quarter valued at approximately $215,000. Institutional investors own 91.23% of the company’s stock.
In other news, CEO Michael B. Polk purchased 7,000 shares of the business’s stock in a transaction on Monday, November 20th. The stock was purchased at an average price of $28.22 per share, with a total value of $197,540.00. Following the acquisition, the chief executive officer now directly owns 616,296 shares in the company, valued at approximately $17,391,873.12. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.97% of the company’s stock.
Newell Brands declared that its Board of Directors has initiated a share buyback program on Thursday, November 2nd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
Several analysts recently weighed in on NWL shares. Jefferies Group restated a “hold” rating and set a $47.00 target price on shares of Newell Brands in a research note on Thursday, October 19th. ValuEngine downgraded Newell Brands from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Citigroup decreased their target price on Newell Brands from $63.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. Barclays restated a “buy” rating and set a $35.00 target price on shares of Newell Brands in a research note on Wednesday, December 6th. Finally, Raymond James Financial restated a “market perform” rating on shares of Newell Brands in a research note on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company. Newell Brands currently has a consensus rating of “Hold” and a consensus target price of $39.18.
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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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