HL Financial Services LLC lifted its holdings in shares of Newell Brands Inc (NYSE:NWL) by 8.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 41,310 shares of the company’s stock after buying an additional 3,068 shares during the period. HL Financial Services LLC’s holdings in Newell Brands were worth $1,065,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in NWL. BlackRock Inc. lifted its stake in Newell Brands by 24.1% during the first quarter. BlackRock Inc. now owns 37,418,442 shares of the company’s stock valued at $953,422,000 after purchasing an additional 7,261,215 shares during the last quarter. Icahn Carl C acquired a new position in Newell Brands in the 1st quarter valued at approximately $771,529,000. Massachusetts Financial Services Co. MA increased its stake in Newell Brands by 3.5% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 17,171,146 shares of the company’s stock valued at $437,520,000 after buying an additional 572,667 shares during the period. Pzena Investment Management LLC acquired a new position in Newell Brands in the 2nd quarter valued at approximately $427,655,000. Finally, Bank of New York Mellon Corp increased its stake in Newell Brands by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 12,134,310 shares of the company’s stock valued at $312,943,000 after buying an additional 295,384 shares during the period. 97.65% of the stock is owned by institutional investors and hedge funds.
In other Newell Brands news, CEO Michael B. Polk bought 10,000 shares of Newell Brands stock in a transaction dated Monday, August 13th. The shares were bought at an average price of $20.63 per share, with a total value of $206,300.00. Following the purchase, the chief executive officer now owns 941,951 shares of the company’s stock, valued at $19,432,449.13. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director James Craigie bought 11,500 shares of Newell Brands stock in a transaction dated Wednesday, August 8th. The stock was acquired at an average cost of $21.33 per share, for a total transaction of $245,295.00. Following the purchase, the director now directly owns 14,081 shares in the company, valued at approximately $300,347.73. The disclosure for this purchase can be found here. 0.97% of the stock is currently owned by company insiders.
Shares of Newell Brands stock opened at $21.37 on Friday. The company has a quick ratio of 2.74, a current ratio of 3.17 and a debt-to-equity ratio of 0.66. The stock has a market cap of $10.05 billion, a P/E ratio of 7.77, a PEG ratio of 4.94 and a beta of 0.62. Newell Brands Inc has a 12-month low of $20.21 and a 12-month high of $44.98.
Newell Brands (NYSE:NWL) last posted its quarterly earnings data on Monday, August 6th. The company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.04. The firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Newell Brands had a net margin of 16.39% and a return on equity of 9.58%. The company’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.87 EPS. equities research analysts forecast that Newell Brands Inc will post 0.89 EPS for the current fiscal year.
Newell Brands declared that its board has authorized a stock repurchase program on Monday, June 11th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 19.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 31st will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 4.31%. The ex-dividend date of this dividend is Thursday, August 30th. Newell Brands’s dividend payout ratio (DPR) is presently 33.45%.
About Newell Brands
Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. The company's Live segment offers household products, including kitchen appliances, gourmet cookware, bakeware and cutlery, food storage and home storage products, fresh preserving products, and home fragrance products; and baby gear, infant care, and health products primarily under Aprica, Baby Jogger, Ball, Calphalon, Chesapeake Bay Candle, Crock-Pot, FoodSaver, Graco, Mr.
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