Pinebridge Investments L.P. reduced its position in Newell Brands Inc. (NASDAQ:NWL – Get Rating) by 24.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 167,926 shares of the company’s stock after selling 53,723 shares during the period. Pinebridge Investments L.P.’s holdings in Newell Brands were worth $3,595,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Xponance Inc. lifted its position in shares of Newell Brands by 2.0% during the first quarter. Xponance Inc. now owns 23,896 shares of the company’s stock worth $512,000 after purchasing an additional 461 shares during the last quarter. Securian Asset Management Inc. lifted its position in shares of Newell Brands by 1.6% during the fourth quarter. Securian Asset Management Inc. now owns 31,963 shares of the company’s stock worth $698,000 after purchasing an additional 496 shares during the last quarter. Mutual of America Capital Management LLC raised its stake in Newell Brands by 1.1% during the first quarter. Mutual of America Capital Management LLC now owns 50,553 shares of the company’s stock worth $1,082,000 after acquiring an additional 532 shares during the period. Stephens Inc. AR raised its stake in Newell Brands by 6.2% during the first quarter. Stephens Inc. AR now owns 9,787 shares of the company’s stock worth $210,000 after acquiring an additional 568 shares during the period. Finally, Boyar Asset Management Inc. raised its stake in Newell Brands by 1.2% during the first quarter. Boyar Asset Management Inc. now owns 50,350 shares of the company’s stock worth $1,078,000 after acquiring an additional 595 shares during the period. 84.07% of the stock is owned by hedge funds and other institutional investors.
Newell Brands Trading Down 3.7 %
Shares of NASDAQ:NWL opened at $19.56 on Monday. The stock has a market capitalization of $8.09 billion, a price-to-earnings ratio of 11.51 and a beta of 0.75. Newell Brands Inc. has a 1-year low of $17.40 and a 1-year high of $26.45. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.48 and a current ratio of 1.03. The company has a 50 day moving average price of $19.86 and a 200 day moving average price of $21.39.
Newell Brands (NASDAQ:NWL – Get Rating) last issued its earnings results on Friday, July 29th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.54 billion. Newell Brands had a net margin of 6.89% and a return on equity of 19.96%. The firm’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period last year, the firm posted $0.56 earnings per share. On average, research analysts anticipate that Newell Brands Inc. will post 1.84 EPS for the current fiscal year.
Newell Brands Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 31st will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date is Tuesday, August 30th. Newell Brands’s payout ratio is 54.12%.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on NWL shares. Barclays dropped their price objective on shares of Newell Brands from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 2nd. Morgan Stanley dropped their price objective on shares of Newell Brands from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 3rd. Wells Fargo & Company dropped their price objective on shares of Newell Brands from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 21st. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Newell Brands from $25.00 to $22.00 and set a “hold” rating on the stock in a research note on Tuesday, June 21st. Finally, UBS Group dropped their price objective on shares of Newell Brands from $28.00 to $27.00 and set a “buy” rating on the stock in a research note on Monday, August 1st. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.86.
Newell Brands Company Profile
Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. It 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 home and security, and smoke and carbon monoxide alarms products under the BRK, First Alert, Mapa, Quickie, Rubbermaid, Rubbermaid Commercial Products, and Spontex brands.
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