Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Newell Brands Inc (NYSE:NWL) by 256.5% in the 4th quarter, Holdings Channel reports. The firm owned 37,125 shares of the company’s stock after purchasing an additional 26,710 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Newell Brands were worth $690,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of NWL. Guyasuta Investment Advisors Inc. acquired a new stake in shares of Newell Brands in the fourth quarter worth $228,000. Gryphon Financial Partners LLC acquired a new stake in shares of Newell Brands in the fourth quarter worth $229,000. Private Advisor Group LLC increased its position in shares of Newell Brands by 38.9% in the fourth quarter. Private Advisor Group LLC now owns 16,653 shares of the company’s stock worth $309,000 after acquiring an additional 4,666 shares in the last quarter. AdvisorNet Financial Inc increased its position in shares of Newell Brands by 945.0% in the fourth quarter. AdvisorNet Financial Inc now owns 5,225 shares of the company’s stock worth $97,000 after acquiring an additional 4,725 shares in the last quarter. Finally, BlackRock Inc. increased its position in shares of Newell Brands by 8.4% in the fourth quarter. BlackRock Inc. now owns 44,659,043 shares of the company’s stock worth $830,211,000 after acquiring an additional 3,470,954 shares in the last quarter. 98.42% of the stock is owned by hedge funds and other institutional investors.
Shares of NWL stock opened at $15.45 on Friday. The firm has a market capitalization of $6.71 billion, a PE ratio of 5.62, a PEG ratio of 3.82 and a beta of 0.90. The company has a quick ratio of 2.53, a current ratio of 2.98 and a debt-to-equity ratio of 1.54. Newell Brands Inc has a twelve month low of $15.11 and a twelve month high of $29.23.
Newell Brands (NYSE:NWL) last posted its quarterly earnings data on Friday, February 15th. The company reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.30. Newell Brands had a negative net margin of 46.92% and a positive return on equity of 9.55%. The firm had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the prior year, the firm posted $0.68 EPS. The firm’s revenue was down 6.0% compared to the same quarter last year. On average, research analysts predict that Newell Brands Inc will post 1.22 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Thursday, February 28th will be paid a dividend of $0.23 per share. The ex-dividend date is Wednesday, February 27th. This represents a $0.92 dividend on an annualized basis and a yield of 5.95%. Newell Brands’s dividend payout ratio (DPR) is 33.45%.
Several brokerages have recently weighed in on NWL. Citigroup upped their target price on shares of Newell Brands from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, December 4th. Wells Fargo & Co restated a “buy” rating and issued a $36.00 target price on shares of Newell Brands in a research note on Thursday, December 20th. Zacks Investment Research downgraded shares of Newell Brands from a “buy” rating to a “hold” rating in a research note on Thursday, January 3rd. Royal Bank of Canada decreased their target price on shares of Newell Brands from $24.00 to $20.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 19th. Finally, Jefferies Financial Group decreased their target price on shares of Newell Brands to $15.00 and set a “hold” rating for the company in a research note on Tuesday, February 19th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Newell Brands currently has a consensus rating of “Hold” and a consensus price target of $22.08.
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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.
See Also: Hedge Funds
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