Dana Investment Advisors Inc. Sells 17,835 Shares of Newell Brands Inc. (NWL)
Dana Investment Advisors Inc. trimmed its holdings in shares of Newell Brands Inc. (NYSE:NWL) by 7.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 224,742 shares of the company’s stock after selling 17,835 shares during the period. Dana Investment Advisors Inc.’s holdings in Newell Brands were worth $12,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Eaton Vance Management grew its holdings in Newell Brands by 2.1% during the 2nd quarter. Eaton Vance Management now owns 4,055,702 shares of the company’s stock worth $217,467,000 after acquiring an additional 82,184 shares in the last quarter. King Luther Capital Management Corp grew its holdings in Newell Brands by 1.0% during the 2nd quarter. King Luther Capital Management Corp now owns 3,203,006 shares of the company’s stock worth $171,745,000 after acquiring an additional 30,576 shares in the last quarter. Bellwether Investment Group LLC grew its holdings in Newell Brands by 2.0% during the 2nd quarter. Bellwether Investment Group LLC now owns 5,501 shares of the company’s stock worth $295,000 after acquiring an additional 110 shares in the last quarter. PICTET BANK & TRUST Ltd bought a new position in Newell Brands during the 2nd quarter worth about $2,102,000. Finally, Commerce Bank grew its holdings in Newell Brands by 3.0% during the 2nd quarter. Commerce Bank now owns 1,155,963 shares of the company’s stock worth $61,983,000 after acquiring an additional 33,531 shares in the last quarter. Institutional investors own 92.36% of the company’s stock.
Newell Brands Inc. (NWL) traded up 0.90% during mid-day trading on Thursday, hitting $43.66. 2,852,516 shares of the company’s stock traded hands. Newell Brands Inc. has a one year low of $40.88 and a one year high of $55.08. The firm’s 50-day moving average price is $45.30 and its 200-day moving average price is $49.52. The stock has a market cap of $21.40 billion, a PE ratio of 17.44 and a beta of 1.15.
Newell Brands (NYSE:NWL) last announced its quarterly earnings data on Friday, August 4th. The company reported $0.87 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.01. Newell Brands had a return on equity of 11.47% and a net margin of 7.87%. The business had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the previous year, the company posted $0.78 earnings per share. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, analysts forecast that Newell Brands Inc. will post $3.00 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date was Tuesday, August 29th. Newell Brands’s dividend payout ratio is presently 36.95%.
Newell Brands declared that its Board of Directors 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 repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
In related news, CEO Michael B. Polk acquired 5,000 shares of the stock in a transaction dated Wednesday, September 13th. The stock was acquired at an average cost of $43.61 per share, with a total value of $218,050.00. Following the completion of the transaction, the chief executive officer now owns 609,296 shares in the company, valued at approximately $26,571,398.56. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Scott S. Cowen acquired 2,000 shares of the stock in a transaction dated Monday, September 11th. The shares were bought at an average cost of $43.60 per share, with a total value of $87,200.00. Following the completion of the transaction, the director now owns 87,883 shares of the company’s stock, valued at approximately $3,831,698.80. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 7,100 shares of company stock valued at $309,715. Corporate insiders own 0.97% of the company’s stock.
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NWL has been the topic of several recent research reports. BMO Capital Markets set a $51.00 target price on shares of Newell Brands and gave the stock a “hold” rating in a report on Saturday, August 5th. J P Morgan Chase & Co set a $61.00 target price on shares of Newell Brands and gave the stock a “buy” rating in a report on Monday, August 7th. Forward View reiterated a “buy” rating and set a $58.00 target price on shares of Newell Brands in a report on Monday, September 11th. Zacks Investment Research upgraded shares of Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a report on Tuesday, August 1st. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $60.00 target price on shares of Newell Brands in a report on Thursday, June 8th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Newell Brands has a consensus rating of “Buy” and a consensus target price of $56.31.
About Newell Brands
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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