Massachusetts Financial Services Co. MA raised its stake in Newell Brands Inc (NYSE:NWL) by 30.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,370,960 shares of the company’s stock after purchasing an additional 1,259,111 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.27% of Newell Brands worth $100,544,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. Tower Research Capital LLC TRC bought a new position in shares of Newell Brands in the 3rd quarter valued at about $493,000. Thompson Investment Management Inc. boosted its stake in Newell Brands by 4.4% during the 3rd quarter. Thompson Investment Management Inc. now owns 236,932 shares of the company’s stock worth $4,435,000 after acquiring an additional 9,898 shares during the last quarter. SG Americas Securities LLC boosted its stake in Newell Brands by 115.6% during the 3rd quarter. SG Americas Securities LLC now owns 171,270 shares of the company’s stock worth $3,206,000 after acquiring an additional 91,824 shares during the last quarter. Minneapolis Portfolio Management Group LLC boosted its stake in Newell Brands by 34.9% during the 3rd quarter. Minneapolis Portfolio Management Group LLC now owns 1,853,715 shares of the company’s stock worth $34,702,000 after acquiring an additional 479,188 shares during the last quarter. Finally, Poplar Forest Capital LLC boosted its stake in Newell Brands by 57.3% during the 3rd quarter. Poplar Forest Capital LLC now owns 1,581,268 shares of the company’s stock worth $29,601,000 after acquiring an additional 575,917 shares during the last quarter. 98.42% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE NWL traded down $0.05 during midday trading on Thursday, reaching $20.03. The company’s stock had a trading volume of 476,288 shares, compared to its average volume of 5,657,299. The company has a current ratio of 2.98, a quick ratio of 2.53 and a debt-to-equity ratio of 1.54. Newell Brands Inc has a fifty-two week low of $13.04 and a fifty-two week high of $24.57. The stock has a market capitalization of $8.46 billion, a price-to-earnings ratio of 7.29, a PEG ratio of 3.82 and a beta of 0.90. The stock has a 50 day simple moving average of $19.26 and a 200-day simple moving average of $16.42.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Wednesday, November 27th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 4.59%. Newell Brands’s dividend payout ratio (DPR) is presently 33.45%.
Several research analysts recently weighed in on NWL shares. Consumer Edge lowered shares of Newell Brands from an “equal weight” rating to an “underweight” rating in a research note on Monday. TheStreet raised shares of Newell Brands from a “d” rating to a “c-” rating in a research note on Friday, November 1st. Zacks Investment Research raised shares of Newell Brands from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective on the stock in a research note on Wednesday, November 6th. Deutsche Bank reduced their price objective on shares of Newell Brands from $18.00 to $16.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. Finally, Wells Fargo & Co reissued a “buy” rating on shares of Newell Brands in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Newell Brands presently has an average rating of “Hold” and an average price target of $19.78.
In other news, Director James Craigie acquired 12,500 shares of Newell Brands stock in a transaction that occurred on Thursday, November 7th. The stock was bought at an average price of $20.00 per share, for a total transaction of $250,000.00. Following the completion of the transaction, the director now owns 28,749 shares in the company, valued at $574,980. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.97% of the stock is currently owned by corporate insiders.
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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