Neuberger Berman Group LLC Decreases Stake in Newell Brands Inc. (NWL)
Neuberger Berman Group LLC reduced its stake in Newell Brands Inc. (NYSE:NWL) by 8.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 6,602,078 shares of the company’s stock after selling 602,964 shares during the period. Neuberger Berman Group LLC owned 1.37% of Newell Brands worth $354,003,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new position in shares of Newell Brands during the first quarter valued at about $228,000. Candriam Luxembourg S.C.A. boosted its position in shares of Newell Brands by 25.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 29,400 shares of the company’s stock valued at $1,387,000 after buying an additional 5,876 shares during the last quarter. Waldron LP purchased a new position in shares of Newell Brands during the first quarter valued at about $206,000. Sit Investment Associates Inc. purchased a new position in shares of Newell Brands during the first quarter valued at about $1,090,000. Finally, Glen Harbor Capital Management LLC boosted its position in shares of Newell Brands by 8.0% in the first quarter. Glen Harbor Capital Management LLC now owns 51,952 shares of the company’s stock valued at $2,450,000 after buying an additional 3,842 shares during the last quarter. 94.87% of the stock is currently owned by institutional investors and hedge funds.
Newell Brands Inc. (NWL) traded down 0.06% on Friday, reaching $48.12. The company had a trading volume of 3,008,859 shares. Newell Brands Inc. has a 1-year low of $43.43 and a 1-year high of $55.08. The stock has a market capitalization of $23.58 billion, a P/E ratio of 19.22 and a beta of 1.17. The stock’s 50 day moving average is $51.59 and its 200-day moving average is $50.23.
Newell Brands (NYSE:NWL) last released its earnings results on Friday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.01. Newell Brands had a return on equity of 11.47% and a net margin of 7.87%. The company had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter in the previous year, the firm posted $0.78 EPS. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities analysts predict that Newell Brands Inc. will post $3.12 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Tuesday, August 29th. Newell Brands’s payout ratio is 36.95%.
NWL has been the topic of several research reports. Wells Fargo & Company cut Newell Brands from an “outperform” rating to a “market perform” rating and set a $50.00 target price on the stock. in a research report on Monday, May 1st. Royal Bank Of Canada reissued a “top pick” rating and issued a $60.00 target price on shares of Newell Brands in a research report on Monday, May 1st. Jefferies Group LLC raised their target price on Newell Brands from $61.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, May 9th. UBS AG set a $60.00 target price on Newell Brands and gave the stock a “buy” rating in a research report on Tuesday, May 9th. Finally, BMO Capital Markets set a $51.00 target price on Newell Brands and gave the stock a “hold” rating in a research report on Monday, May 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target 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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