Occidental Asset Management LLC increased its holdings in shares of Newell Brands Inc (NYSE:NWL) by 28.0% during the 2nd quarter, HoldingsChannel.com reports. 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 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in Newell Brands by 0.9% during the first quarter. BlackRock Inc. now owns 45,049,687 shares of the company’s stock worth $691,062,000 after buying an additional 390,644 shares during the period. Pzena Investment Management LLC lifted its position in Newell Brands by 35.6% during the first quarter. Pzena Investment Management LLC now owns 24,817,839 shares of the company’s stock worth $380,706,000 after buying an additional 6,513,500 shares during the period. OppenheimerFunds Inc. lifted its position in Newell Brands by 9.5% during the first quarter. OppenheimerFunds Inc. now owns 11,695,108 shares of the company’s stock worth $179,403,000 after buying an additional 1,017,861 shares during the period. Geode Capital Management LLC lifted its position in Newell Brands by 12.1% during the fourth quarter. Geode Capital Management LLC now owns 6,103,942 shares of the company’s stock worth $113,388,000 after buying an additional 660,185 shares during the period. Finally, Primecap Management Co. CA lifted its position in Newell Brands by 4.5% during the first quarter. Primecap Management Co. CA now owns 4,008,660 shares of the company’s stock worth $61,493,000 after buying an additional 172,700 shares during the period. Hedge funds and other institutional investors own 98.42% of the company’s stock.
Several research firms recently weighed in on NWL. Wells Fargo & Co reiterated a “buy” rating on shares of Newell Brands in a research report on Wednesday, July 31st. Deutsche Bank reduced their target price on Newell Brands from $18.00 to $16.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Consumer Edge began coverage on Newell Brands in a report on Wednesday, July 3rd. They issued a “hold” rating on the stock. Zacks Investment Research upgraded Newell Brands from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. Finally, Barclays restated a “hold” rating on shares of Newell Brands in a report on Wednesday, August 7th. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Newell Brands has a consensus rating of “Hold” and an average target price of $20.30.
Newell Brands (NYSE:NWL) last released its quarterly earnings data on Friday, August 2nd. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.09. The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate 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 period last year, the business posted $0.82 EPS. As a group, equities analysts expect that Newell Brands Inc will post 1.22 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be issued a dividend of $0.23 per share. The ex-dividend date is Thursday, August 29th. This represents a $0.92 annualized dividend and a dividend yield of 5.84%. Newell Brands’s payout ratio is currently 33.45%.
Newell Brands 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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