Lateef Investment Management L.P. trimmed its position in shares of Newell Brands Inc (NYSE:NWL) by 98.6% during the fourth quarter, HoldingsChannel reports. The firm owned 11,590 shares of the company’s stock after selling 792,595 shares during the quarter. Lateef Investment Management L.P.’s holdings in Newell Brands were worth $358,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. MUFG Americas Holdings Corp boosted its position in Newell Brands by 566.7% during the fourth quarter. MUFG Americas Holdings Corp now owns 3,380 shares of the company’s stock worth $104,000 after purchasing an additional 2,873 shares in the last quarter. Parkside Investments LLC purchased a new stake in Newell Brands during the third quarter worth $107,000. Cerebellum GP LLC purchased a new stake in Newell Brands during the fourth quarter worth $123,000. Patten Group Inc. boosted its position in Newell Brands by 5,263.6% during the fourth quarter. Patten Group Inc. now owns 6,919 shares of the company’s stock worth $214,000 after purchasing an additional 6,790 shares in the last quarter. Finally, Balter Liquid Alternatives LLC purchased a new stake in Newell Brands during the fourth quarter worth $215,000. Institutional investors own 92.74% of the company’s stock.
A number of analysts have commented on NWL shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $27.00 target price on shares of Newell Brands in a research report on Tuesday, February 20th. Zacks Investment Research upgraded Newell Brands from a “sell” rating to a “hold” rating and set a $36.00 target price on the stock in a research report on Monday, January 8th. Jefferies Group restated a “hold” rating and issued a $32.00 price objective on shares of Newell Brands in a research report on Thursday, January 25th. Barclays restated a “buy” rating and issued a $35.00 price objective on shares of Newell Brands in a research report on Wednesday, December 6th. Finally, TheStreet downgraded Newell Brands from a “b-” rating to a “c+” rating in a research report on Tuesday, November 14th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $34.50.
Newell Brands (NYSE:NWL) last released its earnings results on Friday, February 16th. The company reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.01. The firm had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. Newell Brands had a return on equity of 10.47% and a net margin of 18.65%. The business’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.80 earnings per share. equities analysts predict that Newell Brands Inc will post 2.7 EPS for the current fiscal year.
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 $0.23 dividend. The ex-dividend date is Tuesday, February 27th. This represents a $0.92 annualized dividend and a yield of 3.37%. Newell Brands’s payout ratio is currently 16.34%.
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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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