Occidental Asset Management LLC boosted its holdings in Newell Brands Inc (NYSE:NWL) by 28.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,722 shares of the company’s stock after purchasing an additional 5,840 shares during the quarter. Occidental Asset Management LLC’s holdings in Newell Brands were worth $412,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. lifted its stake in Newell Brands by 0.9% in the first quarter. BlackRock Inc. now owns 45,049,687 shares of the company’s stock valued at $691,062,000 after buying an additional 390,644 shares during the last quarter. Pzena Investment Management LLC lifted its stake in Newell Brands by 35.6% in the first quarter. Pzena Investment Management LLC now owns 24,817,839 shares of the company’s stock valued at $380,706,000 after buying an additional 6,513,500 shares during the last quarter. OppenheimerFunds Inc. lifted its stake in Newell Brands by 9.5% in the first quarter. OppenheimerFunds Inc. now owns 11,695,108 shares of the company’s stock valued at $179,403,000 after buying an additional 1,017,861 shares during the last quarter. Geode Capital Management LLC lifted its stake in Newell Brands by 12.1% in the fourth quarter. Geode Capital Management LLC now owns 6,103,942 shares of the company’s stock valued at $113,388,000 after buying an additional 660,185 shares during the last quarter. Finally, Primecap Management Co. CA lifted its stake in Newell Brands by 4.5% in the first quarter. Primecap Management Co. CA now owns 4,008,660 shares of the company’s stock valued at $61,493,000 after buying an additional 172,700 shares during the last quarter. Institutional investors own 98.42% of the company’s stock.
NWL has been the subject of a number of research reports. Zacks Investment Research upgraded Newell Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. Consumer Edge assumed coverage on Newell Brands in a research note on Wednesday, July 3rd. They set a “hold” rating for the company. Barclays restated a “hold” rating on shares of Newell Brands in a research note on Wednesday, August 7th. Wells Fargo & Co restated a “buy” rating on shares of Newell Brands in a research note on Wednesday, July 31st. Finally, Deutsche Bank cut their price target on Newell Brands from $18.00 to $16.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Ten analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $20.30.
Shares of Newell Brands stock remained flat at $$15.75 during trading hours on Thursday. The stock had a trading volume of 2,615,811 shares, compared to its average volume of 6,105,950. Newell Brands Inc has a twelve month low of $13.04 and a twelve month high of $24.57. 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 firm has a 50-day moving average price of $15.03. The company has a market cap of $6.66 billion, a price-to-earnings ratio of 5.73, a PEG ratio of 3.82 and a beta of 0.90.
Newell Brands (NYSE:NWL) last released its quarterly earnings data on Friday, August 2nd. The company reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.09. The firm had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.12 billion. Newell Brands had a positive return on equity of 9.55% and a negative net margin of 46.92%. During the same quarter in the prior year, the business posted $0.82 earnings per share. On average, research analysts forecast that Newell Brands Inc will post 1.22 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 5.84%. The ex-dividend date of this dividend is Thursday, August 29th. Newell Brands’s payout ratio is 33.45%.
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.
Read More: Hold Rating
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