ARS Investment Partners LLC trimmed its stake in shares of Newell Brands Inc (NYSE:NWL) by 48.2% during the 1st quarter, HoldingsChannel reports. The firm owned 332,348 shares of the company’s stock after selling 309,591 shares during the quarter. ARS Investment Partners LLC’s holdings in Newell Brands were worth $5,098,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Headinvest LLC lifted its stake in shares of Newell Brands by 78.2% in the fourth quarter. Headinvest LLC now owns 81,668 shares of the company’s stock worth $1,518,000 after buying an additional 35,846 shares in the last quarter. AdvisorNet Financial Inc lifted its stake in shares of Newell Brands by 945.0% in the fourth quarter. AdvisorNet Financial Inc now owns 5,225 shares of the company’s stock worth $97,000 after buying an additional 4,725 shares in the last quarter. State of Tennessee Treasury Department lifted its stake in shares of Newell Brands by 5.2% in the fourth quarter. State of Tennessee Treasury Department now owns 410,880 shares of the company’s stock worth $7,638,000 after buying an additional 20,207 shares in the last quarter. Manning & Napier Group LLC lifted its stake in shares of Newell Brands by 3.7% in the fourth quarter. Manning & Napier Group LLC now owns 161,745 shares of the company’s stock worth $3,006,000 after buying an additional 5,843 shares in the last quarter. Finally, Gryphon Financial Partners LLC purchased a new position in shares of Newell Brands in the fourth quarter worth about $229,000. 98.42% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently weighed in on the stock. Royal Bank of Canada decreased their price target on shares of Newell Brands from $24.00 to $20.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 19th. Citigroup set a $24.00 price target on shares of Newell Brands and gave the stock a “buy” rating in a research note on Wednesday, February 20th. Wells Fargo & Co reissued an “outperform” rating and issued a $21.00 price target (down from $36.00) on shares of Newell Brands in a research note on Tuesday, February 19th. Barclays set a $16.00 price target on shares of Newell Brands and gave the stock a “hold” rating in a research note on Tuesday, February 19th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $15.00 price target on shares of Newell Brands in a research note on Thursday, March 14th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $20.80.
Newell Brands (NYSE:NWL) last released its quarterly earnings data on Friday, May 3rd. The company reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.08. Newell Brands had a negative net margin of 46.92% and a positive return on equity of 9.55%. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same period last year, the business earned $0.34 earnings per share. Newell Brands’s revenue was down 5.5% compared to the same quarter last year. As a group, equities research analysts predict that Newell Brands Inc will post 1.22 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 6.07%. The ex-dividend date of this dividend is Thursday, May 30th. Newell Brands’s payout ratio is currently 33.45%.
Newell Brands Profile
Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. The company's Live segment offers household products, including kitchen appliances, gourmet cookware, bakeware and cutlery, food storage and home storage products, fresh preserving products, and home fragrance products; and baby gear, infant care, and health products primarily under Aprica, Baby Jogger, Ball, Calphalon, Chesapeake Bay Candle, Crock-Pot, FoodSaver, Graco, Mr.
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