King Luther Capital Management Corp increased its holdings in Newell Brands Inc. (NASDAQ:NWL – Free Report) by 5.8% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 5,173,855 shares of the company’s stock after buying an additional 285,939 shares during the quarter. King Luther Capital Management Corp owned about 1.25% of Newell Brands worth $45,013,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Mariner LLC boosted its holdings in shares of Newell Brands by 3.3% in the first quarter. Mariner LLC now owns 16,544 shares of the company’s stock worth $355,000 after buying an additional 532 shares during the last quarter. Private Advisor Group LLC grew its position in shares of Newell Brands by 5.0% during the 1st quarter. Private Advisor Group LLC now owns 12,567 shares of the company’s stock valued at $269,000 after acquiring an additional 593 shares during the period. Kinneret Advisory LLC grew its position in shares of Newell Brands by 2.3% during the 1st quarter. Kinneret Advisory LLC now owns 33,080 shares of the company’s stock valued at $708,000 after acquiring an additional 739 shares during the period. Yousif Capital Management LLC increased its stake in shares of Newell Brands by 1.3% in the 1st quarter. Yousif Capital Management LLC now owns 58,920 shares of the company’s stock worth $1,261,000 after purchasing an additional 745 shares in the last quarter. Finally, HighTower Advisors LLC raised its holdings in Newell Brands by 4.5% in the 1st quarter. HighTower Advisors LLC now owns 18,847 shares of the company’s stock worth $401,000 after purchasing an additional 808 shares during the period. 91.53% of the stock is currently owned by institutional investors.
Insider Activity at Newell Brands
In other Newell Brands news, insider Bradford R. Turner sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $6.88, for a total value of $137,600.00. Following the completion of the sale, the insider now directly owns 152,363 shares in the company, valued at $1,048,257.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.58% of the stock is currently owned by corporate insiders.
Newell Brands Stock Performance
Newell Brands (NASDAQ:NWL – Get Free Report) last issued its quarterly earnings data on Friday, October 27th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.16. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $2.12 billion. Newell Brands had a negative net margin of 6.61% and a positive return on equity of 9.12%. Newell Brands’s revenue was down 11.2% compared to the same quarter last year. During the same period last year, the company posted $0.53 earnings per share. As a group, equities analysts predict that Newell Brands Inc. will post 0.75 EPS for the current year.
Newell Brands Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 3.73%. The ex-dividend date is Wednesday, November 29th. Newell Brands’s payout ratio is -20.90%.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the company. Canaccord Genuity Group increased their price target on Newell Brands from $13.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, July 31st. JPMorgan Chase & Co. downgraded shares of Newell Brands from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $11.00 to $7.00 in a report on Monday, October 30th. Truist Financial downgraded shares of Newell Brands from a “buy” rating to a “hold” rating and dropped their price objective for the company from $20.00 to $8.00 in a report on Monday, October 30th. Morgan Stanley dropped their price objective on shares of Newell Brands from $11.00 to $8.50 and set an “equal weight” rating for the company in a report on Tuesday, October 31st. Finally, StockNews.com raised shares of Newell Brands from a “sell” rating to a “hold” rating in a report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $9.85.
Newell Brands Company Profile
Newell Brands Inc engages in the design, manufacture, sourcing, and distribution of consumer and commercial products worldwide. The company operates in five segments: Commercial Solutions, Home Appliances, Home Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solutions; closet and garage organization products; hygiene systems and material handling solutions; and connected home and security products under the Mapa, Quickie, Rubbermaid, Rubbermaid Commercial Products, and Spontex brands.
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