Russell Investments Group Ltd. raised its stake in Newell Brands Inc. (NASDAQ:NWL – Free Report) by 21.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,706,562 shares of the company’s stock after purchasing an additional 471,859 shares during the period. Russell Investments Group Ltd. owned about 0.65% of Newell Brands worth $23,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also made changes to their positions in the business. US Bancorp DE increased its holdings in shares of Newell Brands by 7.3% in the 2nd quarter. US Bancorp DE now owns 37,067 shares of the company’s stock valued at $322,000 after acquiring an additional 2,527 shares during the last quarter. Cetera Advisor Networks LLC grew its stake in Newell Brands by 47.9% during the 2nd quarter. Cetera Advisor Networks LLC now owns 62,787 shares of the company’s stock worth $546,000 after buying an additional 20,341 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Newell Brands by 4.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,380,260 shares of the company’s stock worth $29,408,000 after buying an additional 129,358 shares during the last quarter. Citigroup Inc. grew its stake in Newell Brands by 36.4% during the 2nd quarter. Citigroup Inc. now owns 317,643 shares of the company’s stock worth $2,763,000 after buying an additional 84,849 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Newell Brands by 34.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,206,250 shares of the company’s stock worth $71,400,000 after buying an additional 2,106,510 shares during the last quarter. Hedge funds and other institutional investors own 91.53% of the company’s stock.
In other news, insider Bradford R. Turner sold 20,000 shares of Newell Brands stock in a transaction on Monday, October 30th. The stock was sold at an average price of $6.88, for a total value of $137,600.00. Following the completion of the sale, the insider now owns 152,363 shares of the company’s stock, valued at $1,048,257.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.58% of the company’s stock.
Newell Brands Stock Performance
Newell Brands (NASDAQ:NWL – Get Free Report) last announced its quarterly earnings data on Friday, October 27th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.16. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.12 billion. Newell Brands had a positive return on equity of 9.12% and a negative net margin of 6.61%. The business’s revenue for the quarter was down 11.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 earnings per share. As a group, analysts predict that Newell Brands Inc. will post 0.75 earnings per share for the current fiscal year.
Newell Brands Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date is Wednesday, November 29th. Newell Brands’s dividend payout ratio is currently -20.90%.
Analysts Set New Price Targets
Several brokerages have weighed in on NWL. Morgan Stanley lowered their target price on Newell Brands from $11.00 to $8.50 and set an “equal weight” rating on the stock in a research note on Tuesday, October 31st. StockNews.com upgraded Newell Brands from a “sell” rating to a “hold” rating in a research note on Wednesday, November 1st. Barclays lowered their target price on Newell Brands from $9.00 to $6.00 and set an “underweight” rating on the stock in a research note on Thursday, October 12th. Raymond James downgraded Newell Brands from a “strong-buy” rating to an “outperform” rating and lowered their target price for the company from $13.00 to $10.00 in a research note on Monday, October 23rd. Finally, TheStreet downgraded Newell Brands from a “c-” rating to a “d” rating in a research note on Friday, October 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Newell Brands currently has an average rating of “Hold” and an average target price of $9.85.
About Newell Brands
Newell Brands Inc engages in the design, manufacture, sourcing, and distribution of consumer and commercial products worldwide. The company operates in five segments: Commercial Solutions, Home Appliances, Home Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solutions; closet and garage organization products; hygiene systems and material handling solutions; and connected home and security products under the Mapa, Quickie, Rubbermaid, Rubbermaid Commercial Products, and Spontex brands.
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