Spears Abacus Advisors LLC purchased a new stake in Newell Brands Inc (NYSE:NWL) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 12,070 shares of the company’s stock, valued at approximately $185,000.
Other hedge funds also recently bought and sold shares of the company. Proficio Capital Partners LLC raised its position in Newell Brands by 67.8% in the 4th quarter. Proficio Capital Partners LLC now owns 1,545 shares of the company’s stock valued at $29,000 after purchasing an additional 624 shares in the last quarter. Capital Investment Advisory Services LLC acquired a new stake in shares of Newell Brands during the 4th quarter worth about $31,000. FinTrust Capital Advisors LLC acquired a new stake in shares of Newell Brands during the 1st quarter worth about $31,000. JOYN Advisors Inc. raised its position in shares of Newell Brands by 232.3% during the 4th quarter. JOYN Advisors Inc. now owns 1,738 shares of the company’s stock worth $32,000 after acquiring an additional 1,215 shares in the last quarter. Finally, CSat Investment Advisory L.P. raised its position in shares of Newell Brands by 163.6% during the 1st quarter. CSat Investment Advisory L.P. now owns 3,110 shares of the company’s stock worth $48,000 after acquiring an additional 1,930 shares in the last quarter. 98.42% of the stock is currently owned by institutional investors.
Several brokerages have recently weighed in on NWL. Zacks Investment Research lowered Newell Brands from a “buy” rating to a “sell” rating in a research report on Thursday, February 21st. Royal Bank of Canada cut their target price on Newell Brands from $24.00 to $20.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 19th. Wells Fargo & Co reissued an “outperform” rating and set a $21.00 target price (down previously from $36.00) on shares of Newell Brands in a research report on Tuesday, February 19th. Citigroup set a $24.00 target price on Newell Brands and gave the stock a “buy” rating in a research report on Wednesday, February 20th. Finally, Barclays set a $16.00 target price on Newell Brands and gave the stock a “hold” rating in a research report on Tuesday, February 19th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $20.80.
Newell Brands (NYSE:NWL) last released its quarterly earnings results on Friday, May 3rd. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.06 by $0.08. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.69 billion. Newell Brands had a positive return on equity of 9.55% and a negative net margin of 46.92%. The firm’s revenue was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 earnings per share. On average, sell-side analysts forecast that Newell Brands Inc will post 1.22 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 6.26%. The ex-dividend date is Thursday, May 30th. Newell Brands’s dividend payout ratio (DPR) 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.
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