Patten & Patten Inc. TN Has $1.16 Million Holdings in Newell Brands Inc (NWL)
Patten & Patten Inc. TN raised its holdings in Newell Brands Inc (NYSE:NWL) by 10.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,611 shares of the company’s stock after acquiring an additional 3,475 shares during the quarter. Patten & Patten Inc. TN’s holdings in Newell Brands were worth $1,162,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. QS Investors LLC lifted its stake in Newell Brands by 1.1% in the second quarter. QS Investors LLC now owns 6,040 shares of the company’s stock valued at $324,000 after acquiring an additional 68 shares during the last quarter. D.A. Davidson & CO. lifted its stake in shares of Newell Brands by 4.2% in the second quarter. D.A. Davidson & CO. now owns 7,198 shares of the company’s stock worth $385,000 after buying an additional 289 shares during the last quarter. Martin & Co. Inc. TN lifted its stake in shares of Newell Brands by 0.5% in the second quarter. Martin & Co. Inc. TN now owns 101,100 shares of the company’s stock worth $5,421,000 after buying an additional 460 shares during the last quarter. Evercore Wealth Management LLC lifted its stake in shares of Newell Brands by 5.3% in the second quarter. Evercore Wealth Management LLC now owns 9,985 shares of the company’s stock worth $536,000 after buying an additional 503 shares during the last quarter. Finally, FTB Advisors Inc. lifted its stake in shares of Newell Brands by 9.9% in the second quarter. FTB Advisors Inc. now owns 7,788 shares of the company’s stock worth $418,000 after buying an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 93.91% of the company’s stock.
A number of analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Newell Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. ValuEngine cut shares of Newell Brands from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Deutsche Bank assumed coverage on shares of Newell Brands in a research note on Wednesday, December 13th. They issued a “hold” rating and a $32.00 price objective for the company. Barclays restated a “buy” rating and issued a $35.00 price objective on shares of Newell Brands in a research note on Wednesday, December 6th. Finally, TheStreet cut shares of Newell Brands from a “b-” rating to a “c+” rating in a research note on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $45.20.
Newell Brands (NYSE:NWL) last released its earnings results on Thursday, November 2nd. The company reported $0.86 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.06). The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.71 billion. Newell Brands had a net margin of 8.34% and a return on equity of 11.52%. Newell Brands’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.78 earnings per share. equities analysts predict that Newell Brands Inc will post 2.81 earnings per share for the current year.
Newell Brands announced that its Board of Directors has initiated a stock buyback plan on Tuesday, September 26th that allows the company to repurchase $256.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
In related news, CEO Michael B. Polk bought 7,000 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was purchased at an average cost of $28.22 per share, for a total transaction of $197,540.00. Following the purchase, the chief executive officer now directly owns 616,296 shares in the company, valued at $17,391,873.12. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.97% of the stock is owned by corporate insiders.
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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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