Pictet Asset Management SA reduced its position in shares of Newell Brands Inc. (NASDAQ:NWL – Get Rating) by 2.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 180,977 shares of the company’s stock after selling 5,320 shares during the period. Pictet Asset Management SA’s holdings in Newell Brands were worth $3,446,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in NWL. Pzena Investment Management LLC grew its holdings in shares of Newell Brands by 27.9% during the first quarter. Pzena Investment Management LLC now owns 36,251,194 shares of the company’s stock worth $776,138,000 after purchasing an additional 7,908,772 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Newell Brands by 22.7% during the first quarter. Victory Capital Management Inc. now owns 13,883,107 shares of the company’s stock worth $297,392,000 after purchasing an additional 2,570,290 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Newell Brands by 4.1% during the first quarter. BlackRock Inc. now owns 54,045,290 shares of the company’s stock worth $1,157,109,000 after purchasing an additional 2,119,243 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in Newell Brands by 254.4% in the second quarter. Lazard Asset Management LLC now owns 2,610,421 shares of the company’s stock valued at $49,702,000 after acquiring an additional 1,873,854 shares during the last quarter. Finally, State Street Corp boosted its holdings in Newell Brands by 6.6% in the first quarter. State Street Corp now owns 21,398,665 shares of the company’s stock valued at $458,145,000 after acquiring an additional 1,330,465 shares during the last quarter. 91.05% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several analysts recently commented on NWL shares. TheStreet cut Newell Brands from a “b-” rating to a “c+” rating in a report on Monday, September 26th. StockNews.com started coverage on Newell Brands in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. reduced their target price on Newell Brands from $22.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, October 13th. Wells Fargo & Company reduced their target price on Newell Brands from $18.00 to $15.00 and set an “equal weight” rating on the stock in a report on Monday, October 3rd. Finally, Jefferies Financial Group reduced their target price on Newell Brands from $34.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, September 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $18.56.
Insider Transactions at Newell Brands
Newell Brands Price Performance
Shares of NASDAQ:NWL opened at $13.35 on Monday. The company has a quick ratio of 0.64, a current ratio of 1.25 and a debt-to-equity ratio of 1.26. Newell Brands Inc. has a twelve month low of $12.24 and a twelve month high of $26.45. The stock’s 50 day moving average is $14.37 and its 200-day moving average is $17.28. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of 10.04 and a beta of 0.84.
Newell Brands (NASDAQ:NWL – Get Rating) last issued its earnings results on Friday, October 28th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.06. Newell Brands had a return on equity of 20.03% and a net margin of 5.66%. The company had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same period in the prior year, the firm earned $0.54 earnings per share. Newell Brands’s revenue for the quarter was down 19.2% on a year-over-year basis. Sell-side analysts forecast that Newell Brands Inc. will post 1.58 EPS for the current fiscal year.
Newell Brands Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 6.89%. The ex-dividend date is Tuesday, November 29th. Newell Brands’s payout ratio is 69.17%.
Newell Brands 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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