Newell Brands Inc (NWL) Stake Increased by Cambridge Investment Research Advisors Inc.
Cambridge Investment Research Advisors Inc. lifted its position in shares of Newell Brands Inc (NYSE:NWL) by 19.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 125,800 shares of the company’s stock after buying an additional 20,161 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Newell Brands were worth $2,554,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in NWL. Truvestments Capital LLC purchased a new position in shares of Newell Brands in the third quarter worth $108,000. Piedmont Investment Advisors LLC purchased a new stake in Newell Brands during the second quarter valued at $146,000. Qube Research & Technologies Ltd purchased a new stake in Newell Brands during the second quarter valued at $149,000. BlueMountain Capital Management LLC purchased a new stake in Newell Brands during the second quarter valued at $151,000. Finally, Steward Partners Investment Advisory LLC boosted its stake in shares of Newell Brands by 277.7% in the third quarter. Steward Partners Investment Advisory LLC now owns 5,948 shares of the company’s stock worth $121,000 after acquiring an additional 4,373 shares during the period. 98.42% of the stock is currently owned by institutional investors.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research raised Newell Brands from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 9th. Jefferies Financial Group dropped their price target on Newell Brands to $20.00 and set a “hold” rating for the company in a research note on Monday, November 5th. Bank of America dropped their price target on Newell Brands from $25.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, October 4th. Wells Fargo & Co reissued a “buy” rating on shares of Newell Brands in a research note on Friday, November 2nd. Finally, Citigroup dropped their price target on Newell Brands from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, October 31st. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $26.73.
NWL stock traded down $0.29 during midday trading on Friday, reaching $22.68. 10,676,026 shares of the company traded hands, compared to its average volume of 9,576,310. Newell Brands Inc has a 52-week low of $15.11 and a 52-week high of $32.58. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.98 and a quick ratio of 2.53. The company has a market cap of $10.72 billion, a PE ratio of 8.25, a price-to-earnings-growth ratio of 3.87 and a beta of 0.92.
Newell Brands (NYSE:NWL) last issued its quarterly earnings results on Friday, November 2nd. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.55. Newell Brands had a positive return on equity of 9.55% and a negative net margin of 46.92%. The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the prior year, the business posted $0.86 earnings per share. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. Equities research analysts expect that Newell Brands Inc will post 1.22 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.92 annualized dividend and a dividend yield of 4.06%. Newell Brands’s payout ratio is 33.45%.
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Newell Brands Company 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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