Exxonmobil Investment Management Inc. TX lowered its position in Newell Brands Inc. (NYSE:NWL) by 12.9% during the fourth quarter, HoldingsChannel reports. The firm owned 77,928 shares of the company’s stock after selling 11,571 shares during the quarter. Exxonmobil Investment Management Inc. TX’s holdings in Newell Brands were worth $2,408,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of NWL. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Newell Brands in the second quarter valued at about $296,000. Alliancebernstein L.P. grew its stake in Newell Brands by 4.4% in the second quarter. Alliancebernstein L.P. now owns 815,668 shares of the company’s stock valued at $43,736,000 after purchasing an additional 34,700 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Newell Brands by 52.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,164 shares of the company’s stock valued at $169,000 after purchasing an additional 1,088 shares in the last quarter. BT Investment Management Ltd purchased a new position in Newell Brands in the second quarter valued at about $408,000. Finally, Profund Advisors LLC grew its stake in Newell Brands by 26.6% in the second quarter. Profund Advisors LLC now owns 14,582 shares of the company’s stock valued at $782,000 after purchasing an additional 3,064 shares in the last quarter. Hedge funds and other institutional investors own 94.29% of the company’s stock.
In other Newell Brands news, CEO Michael B. Polk acquired 7,000 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was acquired at an average price of $28.22 per share, with a total value of $197,540.00. Following the transaction, the chief executive officer now owns 616,296 shares of the company’s stock, valued at $17,391,873.12. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.97% of the stock is currently owned by insiders.
Shares of Newell Brands Inc. (NYSE:NWL) opened at $32.26 on Monday. Newell Brands Inc. has a 12-month low of $27.45 and a 12-month high of $55.08. The firm has a market capitalization of $15,810.00, a PE ratio of 12.46, a price-to-earnings-growth ratio of 1.22 and a beta of 1.10. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.46 and a quick ratio of 0.86.
Newell Brands (NYSE:NWL) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.06). Newell Brands had a return on equity of 11.52% and a net margin of 8.34%. The company had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same period in the prior year, the firm earned $0.78 EPS. Newell Brands’s quarterly revenue was down 7.0% on a year-over-year basis. sell-side analysts expect that Newell Brands Inc. will post 2.81 EPS for the current fiscal year.
Newell Brands declared that its board has authorized a stock repurchase 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 often a sign that the company’s board believes its shares are undervalued.
NWL has been the topic of a number of recent research reports. Zacks Investment Research downgraded Newell Brands from a “hold” rating to a “sell” rating in a research note on Tuesday, September 19th. JPMorgan Chase & Co. lowered their target price on Newell Brands from $58.00 to $56.00 and set an “overweight” rating on the stock in a research note on Thursday, September 21st. BMO Capital Markets restated a “market perform” rating and issued a $45.00 target price (down previously from $51.00) on shares of Newell Brands in a research note on Thursday, September 21st. KeyCorp set a $60.00 target price on Newell Brands and gave the company a “buy” rating in a research note on Monday, October 16th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $47.00 price target on shares of Newell Brands in a research report on Thursday, October 19th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $45.20.
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.
Want to see what other hedge funds are holding NWL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newell Brands Inc. (NYSE:NWL).
Receive News & Ratings for Newell Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newell Brands and related companies with MarketBeat.com's FREE daily email newsletter.