D.A. Davidson & CO. acquired a new stake in Newell Brands Inc (NYSE:NWL) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 11,051 shares of the company’s stock, valued at approximately $224,000.
Other hedge funds have also made changes to their positions in the company. Westpac Banking Corp grew its holdings in shares of Newell Brands by 766.7% in the 3rd quarter. Westpac Banking Corp now owns 270,512 shares of the company’s stock worth $5,491,000 after purchasing an additional 239,301 shares during the last quarter. Redwood Investment Management LLC grew its holdings in shares of Newell Brands by 19.6% in the 3rd quarter. Redwood Investment Management LLC now owns 61,259 shares of the company’s stock worth $1,244,000 after purchasing an additional 10,021 shares during the last quarter. 22NW LP grew its holdings in shares of Newell Brands by 57.2% in the 3rd quarter. 22NW LP now owns 244,416 shares of the company’s stock worth $4,962,000 after purchasing an additional 88,889 shares during the last quarter. Pzena Investment Management LLC grew its holdings in shares of Newell Brands by 0.9% in the 3rd quarter. Pzena Investment Management LLC now owns 16,727,033 shares of the company’s stock worth $339,559,000 after purchasing an additional 144,819 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of Newell Brands by 7.2% in the 3rd quarter. FMR LLC now owns 7,543,540 shares of the company’s stock worth $153,134,000 after purchasing an additional 507,125 shares during the last quarter. Institutional investors own 98.42% of the company’s stock.
In other Newell Brands news, SVP James L. Cunningham III sold 22,331 shares of the stock in a transaction dated Monday, November 26th. The shares were sold at an average price of $23.45, for a total transaction of $523,661.95. Following the sale, the senior vice president now owns 7,321 shares of the company’s stock, valued at approximately $171,677.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Brett Icahn acquired 100,000 shares of the firm’s stock in a transaction on Monday, November 12th. The shares were bought at an average cost of $20.03 per share, for a total transaction of $2,003,000.00. The disclosure for this purchase can be found here. 0.97% of the stock is owned by corporate insiders.
Newell Brands (NYSE:NWL) last issued its quarterly earnings data on Friday, November 2nd. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.55. Newell Brands had a negative net margin of 46.92% and a positive return on equity of 9.55%. The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same quarter in the prior year, the firm earned $0.86 EPS. The company’s revenue was down 7.7% on a year-over-year basis. Analysts expect that Newell Brands Inc will post 1.22 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date is Thursday, November 29th. Newell Brands’s dividend payout ratio is currently 33.45%.
Several equities research analysts have recently weighed in on NWL shares. BMO Capital Markets lowered their target price on shares of Newell Brands from $25.00 to $20.00 and set a “market perform” rating on the stock in a report on Monday, November 5th. Zacks Investment Research reaffirmed a “strong sell” rating on shares of Newell Brands in a report on Wednesday, November 14th. Citigroup lowered their target price on shares of Newell Brands from $29.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, August 24th. ValuEngine raised shares of Newell Brands from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. Finally, TheStreet lowered shares of Newell Brands from a “c” rating to a “d” rating in a report on Friday, November 2nd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Newell Brands currently has a consensus rating of “Hold” and a consensus target price of $26.73.
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Newell Brands Profile
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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