Artisan Partners Limited Partnership boosted its stake in Newell Brands Inc. (NYSE:NWL) by 6.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,733,612 shares of the company’s stock after buying an additional 226,395 shares during the period. Artisan Partners Limited Partnership owned about 0.77% of Newell Brands worth $166,706,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. SevenBridge Financial Group LLC raised its stake in shares of Newell Brands by 13.9% in the third quarter. SevenBridge Financial Group LLC now owns 2,651 shares of the company’s stock valued at $138,000 after buying an additional 324 shares in the last quarter. Global X Management Co. LLC raised its stake in shares of Newell Brands by 105.8% in the third quarter. Global X Management Co. LLC now owns 2,677 shares of the company’s stock valued at $141,000 after buying an additional 1,376 shares in the last quarter. CHICAGO TRUST Co NA purchased a new stake in shares of Newell Brands during the third quarter valued at approximately $200,000. Stratos Wealth Partners LTD. purchased a new stake in shares of Newell Brands during the third quarter valued at approximately $201,000. Finally, Penserra Capital Management LLC raised its stake in shares of Newell Brands by 93.6% in the third quarter. Penserra Capital Management LLC now owns 3,844 shares of the company’s stock valued at $201,000 after buying an additional 1,858 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.
Shares of Newell Brands Inc. (NYSE:NWL) traded up 1.42% during mid-day trading on Friday, hitting $46.99. The company had a trading volume of 7,858,977 shares. The firm’s 50 day moving average is $46.41 and its 200-day moving average is $49.54. Newell Brands Inc. has a 12-month low of $34.84 and a 12-month high of $55.45. The firm has a market cap of $22.75 billion, a PE ratio of 37.65 and a beta of 0.94.
Newell Brands (NYSE:NWL) last posted its quarterly earnings data on Monday, February 6th. The company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. The business had revenue of $4.14 billion for the quarter, compared to analyst estimates of $4.27 billion. Newell Brands had a return on equity of 13.59% and a net margin of 3.98%. The firm’s revenue for the quarter was up 165.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.56 earnings per share. On average, equities analysts expect that Newell Brands Inc. will post $3.03 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Tuesday, February 28th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.62%. Newell Brands’s payout ratio is presently 64.96%.
NWL has been the subject of a number of recent research reports. Wells Fargo & Company initiated coverage on Newell Brands in a research note on Tuesday, November 15th. They issued an “outperform” rating for the company. Jefferies Group LLC set a $61.00 target price on Newell Brands and gave the company a “buy” rating in a research note on Monday, December 12th. Royal Bank Of Canada reiterated a “top pick” rating and issued a $60.00 target price on shares of Newell Brands in a research note on Monday, October 31st. Oppenheimer Holdings, Inc. reiterated a “market perform” rating and issued a $50.00 target price (down previously from $52.00) on shares of Newell Brands in a research note on Thursday, February 2nd. Finally, Zacks Investment Research upgraded Newell Brands from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Tuesday, January 17th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $56.87.
In other news, President Mark Tarchetti purchased 13,000 shares of the stock in a transaction that occurred on Tuesday, February 7th. The shares were purchased at an average cost of $45.22 per share, for a total transaction of $587,860.00. Following the completion of the purchase, the president now directly owns 201,995 shares of the company’s stock, valued at approximately $9,134,213.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Raymond G. Viault sold 5,353 shares of the business’s stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $45.62, for a total value of $244,203.86. Following the transaction, the director now owns 85,206 shares in the company, valued at $3,887,097.72. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.
About Newell Brands
Newell Brands Inc, formerly Newell Rubbermaid Inc, is a global consumer goods company. The Company’s brands consists of Paper Mate, Sharpie, Dymo, EXPO, Parker, Elmer’s, Coleman, Jostens, Marmot, Rawlings, Irwin, Lenox, Oster, Sunbeam, FoodSaver, Mr. Coffee, Rubbermaid Commercial Products, Graco, Baby Jogger, NUK, Calphalon, Rubbermaid, Contigo, First Alert, Waddington and Yankee Candle.
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