Hermes Investment Management Ltd. cut its position in Newell Brands Inc. (NYSE:NWL) by 9.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 524,980 shares of the company’s stock after selling 53,538 shares during the period. Hermes Investment Management Ltd. owned about 0.11% of Newell Brands worth $28,149,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Trust Co increased its position in shares of Newell Brands by 4.9% in the fourth quarter. Trust Co now owns 6,918 shares of the company’s stock worth $309,000 after buying an additional 323 shares during the period. Watch Point Trust Co increased its position in shares of Newell Brands by 65.5% in the first quarter. Watch Point Trust Co now owns 27,125 shares of the company’s stock worth $1,279,000 after buying an additional 10,740 shares during the period. Chevy Chase Trust Holdings Inc. increased its position in shares of Newell Brands by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 415,856 shares of the company’s stock worth $19,616,000 after buying an additional 12,759 shares during the period. Moreno Evelyn V increased its position in shares of Newell Brands by 1,085.0% in the first quarter. Moreno Evelyn V now owns 79,810 shares of the company’s stock worth $3,765,000 after buying an additional 73,075 shares during the period. Finally, Rosenbaum Jay D. acquired a new position in shares of Newell Brands during the first quarter worth approximately $363,000. 94.42% of the stock is owned by institutional investors.
Shares of Newell Brands Inc. (NWL) traded down 0.40% during midday trading on Friday, hitting $50.00. 2,333,041 shares of the stock were exchanged. The company has a market cap of $24.51 billion, a PE ratio of 19.97 and a beta of 1.17. The stock has a 50 day moving average price of $52.68 and a 200-day moving average price of $50.04. Newell Brands Inc. has a 12 month low of $43.43 and a 12 month high of $55.45.
Newell Brands (NYSE:NWL) last announced its quarterly earnings results on Friday, August 4th. The company reported $0.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.01. Newell Brands had a net margin of 7.87% and a return on equity of 11.47%. The firm had revenue of $4.06 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same period last year, the business earned $0.78 EPS. Newell Brands’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, analysts predict that Newell Brands Inc. will post $3.12 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.92 annualized dividend and a yield of 1.84%. Newell Brands’s dividend payout ratio is currently 36.95%.
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A number of brokerages recently commented on NWL. Jefferies Group LLC reissued a “buy” rating and issued a $66.00 price objective (up previously from $65.00) on shares of Newell Brands in a research note on Thursday, July 6th. Zacks Investment Research raised shares of Newell Brands from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Saturday, July 1st. BidaskClub raised Newell Brands from a “hold” rating to a “buy” rating in a research report on Wednesday, July 5th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $60.00 price target on shares of Newell Brands in a research report on Thursday, June 8th. Finally, BMO Capital Markets set a $51.00 price target on Newell Brands and gave the stock a “hold” rating in a research report on Monday, May 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Newell Brands has an average rating of “Buy” and an average price target of $58.07.
Newell Brands Company Profile
Newell Brands Inc is a marketer of consumer and commercial products. The Company’s segments include Writing, Home Solutions, Commercial Products, Baby & Parenting, Branded Consumables, Consumer Solutions, Outdoor Solutions and Process Solutions. Its products are marketed under a portfolio of brands, including Paper Mate, Sharpie, Dymo, Expo, Parker, Elmer’s, Coleman, Jostens, Marmot, Rawlings, Mr.
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