Comerica Bank decreased its holdings in shares of Newell Brands Inc (NYSE:NWL) by 2.7% during the 3rd quarter, Holdings Channel reports. The firm owned 121,858 shares of the company’s stock after selling 3,442 shares during the quarter. Comerica Bank’s holdings in Newell Brands were worth $2,370,000 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. Coastal Investment Advisors Inc. grew its stake in shares of Newell Brands by 218.2% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 1,909 shares of the company’s stock valued at $29,000 after buying an additional 1,309 shares during the period. Westside Investment Management Inc. acquired a new stake in shares of Newell Brands in the 2nd quarter valued at about $30,000. Phocas Financial Corp. acquired a new stake in shares of Newell Brands in the 2nd quarter valued at about $35,000. Lenox Wealth Advisors LLC acquired a new stake in shares of Newell Brands in the 3rd quarter valued at about $35,000. Finally, LifePlan Financial Group Inc acquired a new stake in shares of Newell Brands in the 2nd quarter valued at about $40,000. 98.42% of the stock is owned by institutional investors and hedge funds.
In related news, Director James Craigie purchased 12,500 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was acquired at an average price of $20.00 per share, for a total transaction of $250,000.00. Following the purchase, the director now owns 28,749 shares of the company’s stock, valued at $574,980. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.97% of the stock is currently owned by insiders.
Newell Brands (NYSE:NWL) last released its quarterly earnings results on Friday, November 1st. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.17. The business had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.38 billion. Newell Brands had a positive return on equity of 9.55% and a negative net margin of 46.92%. The company’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.81 EPS. As a group, sell-side analysts forecast that Newell Brands Inc will post 1.22 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Wednesday, November 27th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 4.58%. Newell Brands’s dividend payout ratio (DPR) is currently 33.45%.
Several analysts have recently commented on the company. Deutsche Bank reduced their target price 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. Zacks Investment Research upgraded Newell Brands from a “hold” rating to a “strong-buy” rating and set a $21.00 target price for the company in a research note on Wednesday, November 6th. Consumer Edge downgraded Newell Brands from an “equal weight” rating to an “underweight” rating in a research note on Monday. Wells Fargo & Co reiterated a “buy” rating on shares of Newell Brands in a research note on Wednesday, July 31st. Finally, Morgan Stanley lifted their price target on Newell Brands from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Newell Brands presently has an average rating of “Hold” and a consensus target price of $19.78.
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.
Featured Article: Certificate of Deposit (CD)
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.