Renaissance Technologies LLC grew its holdings in shares of Newell Brands Inc. (NASDAQ:NWL – Get Rating) by 767.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,009,927 shares of the company’s stock after buying an additional 1,778,300 shares during the period. Renaissance Technologies LLC owned 0.47% of Newell Brands worth $43,897,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in NWL. Securian Asset Management Inc. raised its position in shares of Newell Brands by 1.6% in the 4th quarter. Securian Asset Management Inc. now owns 31,963 shares of the company’s stock worth $698,000 after purchasing an additional 496 shares during the last quarter. American Century Companies Inc. raised its position in shares of Newell Brands by 1.0% in the 4th quarter. American Century Companies Inc. now owns 64,577 shares of the company’s stock worth $1,410,000 after purchasing an additional 608 shares during the last quarter. CI Investments Inc. raised its position in shares of Newell Brands by 4.7% in the 3rd quarter. CI Investments Inc. now owns 14,121 shares of the company’s stock worth $313,000 after purchasing an additional 637 shares during the last quarter. Creative Planning raised its position in shares of Newell Brands by 1.4% in the 3rd quarter. Creative Planning now owns 55,146 shares of the company’s stock worth $1,221,000 after purchasing an additional 747 shares during the last quarter. Finally, IFM Investors Pty Ltd raised its position in shares of Newell Brands by 1.5% in the 4th quarter. IFM Investors Pty Ltd now owns 59,771 shares of the company’s stock worth $1,305,000 after purchasing an additional 892 shares during the last quarter. Hedge funds and other institutional investors own 84.07% of the company’s stock.
A number of equities analysts have weighed in on NWL shares. TheStreet raised Newell Brands from a “c+” rating to a “b” rating in a research report on Friday, April 29th. JPMorgan Chase & Co. decreased their target price on Newell Brands from $29.00 to $26.00 and set an “overweight” rating for the company in a research report on Wednesday, March 30th. Finally, Raymond James decreased their target price on Newell Brands from $33.00 to $28.00 and set a “strong-buy” rating for the company in a research report on Monday, April 18th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $27.33.
Newell Brands (NASDAQ:NWL – Get Rating) last released its quarterly earnings results on Friday, April 29th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.09. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.28 billion. Newell Brands had a return on equity of 19.95% and a net margin of 6.71%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 EPS. Research analysts anticipate that Newell Brands Inc. will post 1.92 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Tuesday, May 31st will be paid a dividend of $0.23 per share. The ex-dividend date is Friday, May 27th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.73%. Newell Brands’s dividend payout ratio (DPR) is presently 55.09%.
In related news, major shareholder Carl C. Icahn sold 10,634,184 shares of the business’s stock in a transaction that occurred on Monday, February 21st. The stock was sold at an average price of $25.86, for a total transaction of $274,999,998.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.58% of the company’s stock.
Newell Brands Company Profile (Get Rating)
Newell Brands Inc designs, manufactures, sources, and distributes consumer and commercial products worldwide. It 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 home and security, and smoke and carbon monoxide alarms products under the BRK, First Alert, Mapa, Quickie, Rubbermaid, Rubbermaid Commercial Products, and Spontex brands.
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