Newell Brands Inc. (NYSE:NWL) Position Raised by IBM Retirement Fund
IBM Retirement Fund boosted its position in Newell Brands Inc. (NYSE:NWL) by 124.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,764 shares of the company’s stock after buying an additional 6,524 shares during the period. IBM Retirement Fund’s holdings in Newell Brands were worth $705,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harfst & Associates Inc. bought a new stake in Newell Brands during the first quarter valued at about $103,000. Israel Discount Bank of New York bought a new stake in Newell Brands during the first quarter valued at about $112,000. Parallel Advisors LLC boosted its stake in Newell Brands by 23.0% in the first quarter. Parallel Advisors LLC now owns 2,906 shares of the company’s stock valued at $132,000 after buying an additional 544 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Newell Brands during the first quarter valued at about $156,000. Finally, Duncker Streett & Co. Inc. bought a new stake in Newell Brands during the first quarter valued at about $186,000. 94.42% of the stock is currently owned by institutional investors and hedge funds.
Newell Brands Inc. (NYSE NWL) traded down 0.40% during trading on Friday, hitting $50.00. 2,333,041 shares of the stock traded hands. Newell Brands Inc. has a one year low of $43.43 and a one year high of $55.45. The company has a 50-day moving average price of $52.68 and a 200 day moving average price of $50.04. The stock has a market cap of $24.51 billion, a PE ratio of 19.97 and a beta of 1.17.
Newell Brands (NYSE:NWL) last announced its earnings results on Friday, August 4th. The company reported $0.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.01. The company had revenue of $4.06 billion during the quarter, compared to analyst estimates of $3.96 billion. Newell Brands had a return on equity of 11.47% and a net margin of 7.87%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the company posted $0.78 earnings per share. Analysts expect that Newell Brands Inc. will post $3.12 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be given a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.92 dividend on an annualized basis and a yield of 1.84%. Newell Brands’s payout ratio is 36.95%.
Several research firms recently issued reports on NWL. UBS AG set a $60.00 price target on shares of Newell Brands and gave the company a “buy” rating in a report on Tuesday, May 9th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $65.00 price target (down from $66.00) on shares of Newell Brands in a report on Monday, August 7th. J P Morgan Chase & Co set a $61.00 price target on shares of Newell Brands and gave the company a “buy” rating in a report on Monday, August 7th. Zacks Investment Research raised shares of Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a report on Tuesday, August 1st. Finally, BMO Capital Markets set a $51.00 price target on shares of Newell Brands and gave the company a “hold” rating in a report on Saturday, August 5th. One 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 issued a strong buy rating to the company’s stock. Newell Brands currently has a consensus rating of “Buy” and an average target price 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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