Newell Brands Inc. (NWL) Position Boosted by Hallmark Capital Management Inc.
Hallmark Capital Management Inc. increased its position in Newell Brands Inc. (NYSE:NWL) by 4.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 282,423 shares of the company’s stock after acquiring an additional 11,748 shares during the period. Hallmark Capital Management Inc. owned about 0.06% of Newell Brands worth $12,051,000 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 NWL. Waldron LP bought a new stake in Newell Brands in the 1st quarter worth approximately $206,000. Empire Life Investments Inc. bought a new stake in Newell Brands in the 1st quarter worth approximately $13,383,000. Oppenheimer Asset Management Inc. bought a new stake in Newell Brands in the 1st quarter worth approximately $156,000. Tudor Investment Corp ET AL bought a new stake in Newell Brands in the 1st quarter worth approximately $386,000. Finally, Point72 Europe London LLP bought a new stake in Newell Brands in the 1st quarter worth approximately $2,830,000. Institutional investors own 92.24% of the company’s stock.
In other Newell Brands news, CEO Michael B. Polk bought 5,000 shares of Newell Brands stock in a transaction that occurred on Wednesday, September 13th. The stock was purchased at an average price of $43.61 per share, with a total value of $218,050.00. Following the completion of the acquisition, the chief executive officer now directly owns 609,296 shares in the company, valued at approximately $26,571,398.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Scott S. Cowen bought 2,000 shares of Newell Brands stock in a transaction that occurred on Monday, September 11th. The shares were acquired at an average cost of $43.60 per share, with a total value of $87,200.00. Following the acquisition, the director now owns 87,883 shares of the company’s stock, valued at $3,831,698.80. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 7,100 shares of company stock valued at $309,715. 0.97% of the stock is currently owned by corporate insiders.
Shares of Newell Brands Inc. (NWL) traded up 0.39% during midday trading on Wednesday, hitting $40.94. 3,746,228 shares of the stock were exchanged. The firm’s 50-day moving average is $42.10 and its 200-day moving average is $48.77. The stock has a market cap of $20.06 billion, a price-to-earnings ratio of 16.35 and a beta of 1.15. Newell Brands Inc. has a 12 month low of $39.58 and a 12 month high of $55.08.
Newell Brands (NYSE:NWL) last issued 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 net margin of 7.87% and a return on equity of 11.47%. The firm had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same quarter last year, the company posted $0.78 earnings per share. The firm’s revenue was up 5.1% compared to the same quarter last year. Equities research analysts predict that Newell Brands Inc. will post $3.00 earnings per share for the current year.
Newell Brands declared that its Board of Directors has initiated a stock buyback program on Tuesday, September 26th that allows the company to buyback $256.00 million in shares. This buyback authorization allows the company to reacquire up to 1.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
A number of equities research analysts have commented on the stock. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating and issued a $42.00 target price on shares of Newell Brands in a research report on Tuesday. Jefferies Group LLC reaffirmed a “hold” rating and issued a $47.00 target price on shares of Newell Brands in a research report on Thursday, October 19th. KeyCorp set a $60.00 target price on shares of Newell Brands and gave the stock a “buy” rating in a research report on Monday, October 16th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $45.00 target price (down previously from $51.00) on shares of Newell Brands in a research report on Thursday, September 21st. Finally, J P Morgan Chase & Co cut their target price on shares of Newell Brands from $58.00 to $56.00 and set an “overweight” rating for the company in a research report on Thursday, September 21st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $55.77.
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Newell Brands 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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