Huntington National Bank cut its stake in Newell Brands Inc. (NYSE:NWL) by 4.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 196,508 shares of the company’s stock after selling 8,279 shares during the period. Huntington National Bank’s holdings in Newell Brands were worth $10,537,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC increased its position in shares of Newell Brands by 26.4% in the fourth quarter. AQR Capital Management LLC now owns 46,776 shares of the company’s stock valued at $2,089,000 after buying an additional 9,778 shares during the last quarter. Quadrature Capital Ltd increased its position in shares of Newell Brands by 15.1% in the fourth quarter. Quadrature Capital Ltd now owns 26,354 shares of the company’s stock valued at $1,177,000 after buying an additional 3,466 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Newell Brands by 9.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,115,402 shares of the company’s stock valued at $94,452,000 after buying an additional 187,725 shares during the last quarter. Teachers Advisors LLC increased its position in shares of Newell Brands by 1.1% in the fourth quarter. Teachers Advisors LLC now owns 2,173,617 shares of the company’s stock valued at $97,052,000 after buying an additional 22,911 shares during the last quarter. Finally, Kentucky Retirement Systems acquired a new position in shares of Newell Brands during the fourth quarter valued at approximately $1,563,000. 94.87% of the stock is currently owned by institutional investors and hedge funds.
Shares of Newell Brands Inc. (NYSE NWL) traded down 0.98% during trading on Friday, reaching $49.66. 2,958,457 shares of the company were exchanged. The stock’s 50-day moving average is $52.25 and its 200-day moving average is $50.17. The firm has a market cap of $24.34 billion, a price-to-earnings ratio of 19.83 and a beta of 1.17. Newell Brands Inc. has a 52-week low of $43.43 and a 52-week high of $55.08.
Newell Brands (NYSE:NWL) last released its quarterly earnings data on Friday, August 4th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.01. The business had revenue of $4.06 billion during the quarter, compared to analyst estimates of $3.96 billion. Newell Brands had a net margin of 7.87% and a return on equity of 11.47%. Newell Brands’s revenue was up 5.1% compared to the same quarter last year. During the same period last year, the business earned $0.78 EPS. Equities research analysts predict that Newell Brands Inc. will post $3.12 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Tuesday, August 29th. Newell Brands’s payout ratio is presently 36.95%.
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Several research analysts recently weighed in on NWL shares. Zacks Investment Research cut shares of Newell Brands from a “buy” rating to a “hold” rating in a research report on Thursday, April 20th. Wells Fargo & Company restated a “buy” rating on shares of Newell Brands in a research report on Saturday, April 22nd. Royal Bank Of Canada restated a “top pick” rating and issued a $60.00 price objective on shares of Newell Brands in a research report on Monday, May 1st. Jefferies Group LLC boosted their price objective on shares of Newell Brands from $61.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, May 9th. Finally, UBS AG set a $60.00 price objective on shares of Newell Brands and gave the stock a “buy” rating in a research report on Tuesday, May 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Newell Brands presently has an average rating of “Buy” and an average price target of $58.07.
Newell Brands Company Profile
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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