PVG Asset Management Corp reduced its position in shares of Newell Brands Inc (NYSE:NWL) by 56.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,870 shares of the company’s stock after selling 31,435 shares during the period. PVG Asset Management Corp’s holdings in Newell Brands were worth $368,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in NWL. Geode Capital Management LLC raised its holdings in Newell Brands by 12.1% in the 4th quarter. Geode Capital Management LLC now owns 6,103,942 shares of the company’s stock valued at $113,388,000 after acquiring an additional 660,185 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Newell Brands by 4.8% in the 1st quarter. CIBC Asset Management Inc now owns 46,895 shares of the company’s stock valued at $719,000 after acquiring an additional 2,136 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Newell Brands by 9.8% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 131,323 shares of the company’s stock valued at $2,014,000 after acquiring an additional 11,693 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Newell Brands by 14.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 152,577 shares of the company’s stock valued at $2,341,000 after acquiring an additional 19,458 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its holdings in Newell Brands by 39.6% in the 1st quarter. Great West Life Assurance Co. Can now owns 459,557 shares of the company’s stock valued at $7,033,000 after acquiring an additional 130,447 shares in the last quarter. 98.42% of the stock is owned by institutional investors and hedge funds.
NWL has been the subject of several analyst reports. Wells Fargo & Co reaffirmed a “buy” rating on shares of Newell Brands in a report on Wednesday, July 31st. Consumer Edge initiated coverage on Newell Brands in a report on Wednesday, July 3rd. They issued a “hold” rating for the company. Deutsche Bank dropped their price objective on Newell Brands from $18.00 to $16.00 and set a “hold” rating for the company in a report on Monday, August 5th. Finally, Barclays reaffirmed a “hold” rating on shares of Newell Brands in a report on Wednesday, August 7th. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $20.30.
NWL stock traded down $0.14 during midday trading on Friday, reaching $17.73. 107,967 shares of the stock were exchanged, compared to its average volume of 5,879,061. The stock has a market capitalization of $7.57 billion, a PE ratio of 6.45, a P/E/G ratio of 3.82 and a beta of 0.90. Newell Brands Inc has a 52 week low of $13.04 and a 52 week 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 company has a fifty day moving average price of $16.47 and a 200 day moving average price of $15.41.
Newell Brands (NYSE:NWL) last issued its quarterly earnings data on Friday, August 2nd. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.09. The business had revenue of $2.12 billion for the quarter, compared to analyst estimates 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 previous year, the company posted $0.82 EPS. As a group, analysts anticipate that Newell Brands Inc will post 1.22 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.23 per share. The ex-dividend date was Thursday, August 29th. This represents a $0.92 dividend on an annualized basis and a yield of 5.19%. Newell Brands’s dividend payout ratio is currently 33.45%.
About Newell Brands
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.
See Also: Why do companies engage in swaps?
Want to see what other hedge funds are holding NWL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newell Brands Inc (NYSE:NWL).
Receive News & Ratings for Newell Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newell Brands and related companies with MarketBeat.com's FREE daily email newsletter.