Ngam Advisors L.P. increased its stake in Newell Brands Inc. (NYSE:NWL) by 2.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 225,802 shares of the company’s stock after buying an additional 5,201 shares during the period. Ngam Advisors L.P.’s holdings in Newell Brands were worth $11,891,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NWL. Bbva Compass Bancshares Inc. acquired a new position in shares of Newell Brands during the second quarter valued at about $278,000. Calamos Advisors LLC acquired a new position in shares of Newell Brands during the second quarter valued at about $51,878,000. Mckinley Capital Management LLC Delaware acquired a new position in shares of Newell Brands during the second quarter valued at about $25,801,000. Chevy Chase Trust Holdings Inc. raised its position in shares of Newell Brands by 3.1% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 402,380 shares of the company’s stock valued at $21,189,000 after buying an additional 12,258 shares in the last quarter. Finally, RS Investment Management Co. LLC acquired a new position in shares of Newell Brands during the second quarter valued at about $18,424,000. 95.22% of the stock is owned by hedge funds and other institutional investors.
Newell Brands Inc. (NYSE:NWL) opened at 48.17 on Friday. Newell Brands Inc. has a 12 month low of $33.26 and a 12 month high of $55.45. The stock has a market cap of $23.24 billion, a P/E ratio of 46.95 and a beta of 1.03. The firm’s 50-day moving average price is $49.82 and its 200-day moving average price is $50.21.
Newell Brands (NYSE:NWL) last announced its quarterly earnings results on Friday, October 28th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.05. The company earned $3.95 billion during the quarter, compared to the consensus estimate of $4.06 billion. Newell Brands had a return on equity of 14.92% and a net margin of 3.51%. Newell Brands’s revenue for the quarter was up 158.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.62 EPS. On average, analysts predict that Newell Brands Inc. will post $2.88 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Monday, November 28th. Newell Brands’s dividend payout ratio (DPR) is 86.36%.
Several research analysts recently issued reports on NWL shares. Wells Fargo & Co. started coverage on Newell Brands in a research report on Tuesday, November 15th. They set an “outperform” rating on the stock. Zacks Investment Research raised Newell Brands from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research report on Monday, October 3rd. Royal Bank Of Canada reaffirmed a “top pick” rating and set a $60.00 target price on shares of Newell Brands in a research report on Monday, October 31st. Jefferies Group reissued a “top pick” rating and issued a $66.00 price objective on shares of Newell Brands in a report on Wednesday, September 14th. Finally, Bank of America Corp. set a $60.00 price objective on Newell Brands and gave the company a “buy” rating in a report on Tuesday, October 4th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Newell Brands presently has an average rating of “Buy” and a consensus target price of $58.75.
In other Newell Brands news, President Mark Tarchetti purchased 12,436 shares of the firm’s stock in a transaction on Monday, October 31st. The stock was bought at an average cost of $48.15 per share, with a total value of $598,793.40. Following the acquisition, the president now directly owns 188,995 shares of the company’s stock, valued at $9,100,109.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael B. Polk purchased 4,000 shares of the firm’s stock in a transaction on Tuesday, November 1st. The shares were acquired at an average cost of $47.82 per share, with a total value of $191,280.00. Following the completion of the acquisition, the chief executive officer now directly owns 338,169 shares in the company, valued at $16,171,241.58. The disclosure for this purchase can be found here. Company insiders own 0.66% of the company’s stock.
About Newell Brands