OppenheimerFunds Inc. raised its stake in Newell Brands Inc (NYSE:NWL) by 211.5% during the fourth quarter, Holdings Channel reports. The fund owned 5,210,352 shares of the company’s stock after buying an additional 3,537,489 shares during the period. OppenheimerFunds Inc.’s holdings in Newell Brands were worth $161,001,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NWL. Gilman Hill Asset Management LLC lifted its holdings in shares of Newell Brands by 12.5% during the third quarter. Gilman Hill Asset Management LLC now owns 11,402 shares of the company’s stock valued at $487,000 after purchasing an additional 1,265 shares in the last quarter. Mn Services Vermogensbeheer B.V. lifted its holdings in shares of Newell Brands by 1.8% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 79,717 shares of the company’s stock valued at $3,402,000 after purchasing an additional 1,400 shares in the last quarter. Mutual of America Capital Management LLC lifted its holdings in shares of Newell Brands by 2.5% during the third quarter. Mutual of America Capital Management LLC now owns 60,341 shares of the company’s stock valued at $2,575,000 after purchasing an additional 1,451 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Newell Brands by 2.9% during the third quarter. Oregon Public Employees Retirement Fund now owns 51,644 shares of the company’s stock valued at $2,204,000 after purchasing an additional 1,477 shares in the last quarter. Finally, Gateway Investment Advisers LLC lifted its holdings in shares of Newell Brands by 0.4% during the fourth quarter. Gateway Investment Advisers LLC now owns 392,838 shares of the company’s stock valued at $12,139,000 after purchasing an additional 1,582 shares in the last quarter. 86.04% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Newell Brands Inc (NYSE:NWL) opened at $26.71 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 0.83. The company has a market capitalization of $13,149.38, a PE ratio of 4.74, a price-to-earnings-growth ratio of 1.38 and a beta of 0.90. Newell Brands Inc has a 1 year low of $23.85 and a 1 year high of $55.08.
Newell Brands (NYSE:NWL) last issued its quarterly earnings results on Friday, February 16th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. The business had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.69 billion. Newell Brands had a return on equity of 10.47% and a net margin of 18.65%. The business’s quarterly revenue was down 9.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.80 earnings per share. sell-side analysts expect that Newell Brands Inc will post 2.7 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend is Tuesday, February 27th. Newell Brands’s payout ratio is 16.34%.
Newell Brands announced that its Board of Directors has approved a share repurchase program on Thursday, November 2nd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
NWL has been the topic of a number of research analyst reports. ValuEngine downgraded Newell Brands from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Citigroup lowered their target price on Newell Brands from $63.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, November 3rd. Barclays reissued a “buy” rating and issued a $35.00 target price on shares of Newell Brands in a report on Wednesday, December 6th. TheStreet downgraded Newell Brands from a “b-” rating to a “c+” rating in a report on Tuesday, November 14th. Finally, Raymond James Financial reissued a “market perform” rating on shares of Newell Brands in a report on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $34.50.
About Newell Brands
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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