BlackRock Inc. increased its holdings in Newell Brands Inc. (NASDAQ:NWL) by 2.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,052,088 shares of the company’s stock after acquiring an additional 1,287,122 shares during the period. BlackRock Inc. owned about 11.30% of Newell Brands worth $1,319,991,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of NWL. First National Bank of South Miami purchased a new stake in Newell Brands in the 1st quarter valued at about $28,000. Parkside Financial Bank & Trust increased its stake in Newell Brands by 344.2% in the 1st quarter. Parkside Financial Bank & Trust now owns 1,066 shares of the company’s stock valued at $29,000 after buying an additional 826 shares during the last quarter. Ameritas Investment Company LLC purchased a new stake in Newell Brands in the 1st quarter valued at about $37,000. O Shaughnessy Asset Management LLC increased its stake in Newell Brands by 445.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,419 shares of the company’s stock valued at $38,000 after buying an additional 1,159 shares during the last quarter. Finally, San Francisco Sentry Investment Group CA increased its stake in Newell Brands by 79.3% in the 2nd quarter. San Francisco Sentry Investment Group CA now owns 1,470 shares of the company’s stock valued at $40,000 after buying an additional 650 shares during the last quarter. Hedge funds and other institutional investors own 88.32% of the company’s stock.
A number of research firms have recently weighed in on NWL. Wells Fargo & Company raised shares of Newell Brands from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $23.00 to $26.00 in a research report on Monday, August 2nd. UBS Group began coverage on shares of Newell Brands in a research report on Wednesday, June 23rd. They set a “buy” rating and a $33.00 target price for the company. Morgan Stanley reduced their target price on shares of Newell Brands from $29.00 to $27.00 and set an “equal weight” rating for the company in a research report on Monday, August 2nd. Finally, Raymond James raised shares of Newell Brands from a “market perform” rating to a “strong-buy” rating and set a $33.00 target price for the company in a research report on Tuesday, July 13th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $29.30.
Newell Brands (NASDAQ:NWL) last released its quarterly earnings data on Thursday, July 29th. The company reported $0.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.11. The company had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.56 billion. Newell Brands had a net margin of 6.90% and a return on equity of 24.76%. Newell Brands’s revenue for the quarter was up 28.3% on a year-over-year basis. During the same period last year, the firm earned $0.30 EPS. Research analysts forecast that Newell Brands Inc. will post 1.74 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 15th. Investors of record on Tuesday, August 31st were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.89%. The ex-dividend date was Monday, August 30th. Newell Brands’s dividend payout ratio (DPR) is presently 51.40%.
Newell Brands Profile
Newell Brands, Inc engages in the manufacture, marketing, and sale of consumer and commercial products. It operates through the following segments: Appliances and Cookware; Commercial Solutions, Home Solutions; Learning and Development; and Outdoor and Recreation. The Appliances and Cookware segment designs, manufactures, sources, markets and distributes a diverse line of household products.
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