Convergence Investment Partners LLC Grows Stake in Newell Brands Inc (NYSE:NWL)

Convergence Investment Partners LLC boosted its position in Newell Brands Inc (NYSE:NWL) by 45.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,506 shares of the company’s stock after purchasing an additional 13,936 shares during the period. Convergence Investment Partners LLC’s holdings in Newell Brands were worth $707,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Newell Brands by 8.8% during the first quarter. BlackRock Inc. now owns 55,475,909 shares of the company’s stock worth $736,721,000 after buying an additional 4,494,554 shares in the last quarter. Pzena Investment Management LLC increased its position in Newell Brands by 1.4% during the first quarter. Pzena Investment Management LLC now owns 25,662,849 shares of the company’s stock worth $340,803,000 after buying an additional 347,595 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in Newell Brands by 28.0% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 10,750,980 shares of the company’s stock worth $142,773,000 after buying an additional 2,354,616 shares in the last quarter. Prudential PLC increased its position in Newell Brands by 81.2% during the first quarter. Prudential PLC now owns 8,149,750 shares of the company’s stock worth $108,229,000 after buying an additional 3,650,950 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its position in Newell Brands by 13.8% during the first quarter. Nuveen Asset Management LLC now owns 6,819,807 shares of the company’s stock worth $90,566,000 after buying an additional 828,432 shares in the last quarter. 98.42% of the stock is owned by hedge funds and other institutional investors.

Several research firms have weighed in on NWL. Royal Bank of Canada reissued a “hold” rating and set a $16.00 price target on shares of Newell Brands in a research report on Thursday. Zacks Investment Research raised Newell Brands from a “sell” rating to a “hold” rating and set a $13.00 price target for the company in a research report on Tuesday, May 5th. Morgan Stanley raised their price objective on Newell Brands from $13.00 to $14.00 and gave the stock an “equal weight” rating in a report on Monday, July 13th. Deutsche Bank raised their price objective on Newell Brands from $13.00 to $17.00 and gave the stock a “hold” rating in a report on Monday, July 27th. Finally, Cfra restated a “sell” rating and set a $10.00 price objective (down previously from $21.00) on shares of Newell Brands in a report on Friday, May 1st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. Newell Brands currently has an average rating of “Hold” and an average price target of $15.88.

Newell Brands stock traded down $1.32 during midday trading on Friday, reaching $16.40. The stock had a trading volume of 13,061,675 shares, compared to its average volume of 4,131,403. Newell Brands Inc has a twelve month low of $10.44 and a twelve month high of $20.99. The stock has a market capitalization of $6.96 billion, a PE ratio of 5.96, a price-to-earnings-growth ratio of 3.82 and a beta of 0.90. The company has a debt-to-equity ratio of 1.54, a quick ratio of 2.53 and a current ratio of 2.98. The stock’s 50-day simple moving average is $15.98 and its 200 day simple moving average is $15.48.

Newell Brands (NYSE:NWL) last issued its earnings results on Friday, July 31st. The company reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.12. Newell Brands had a positive return on equity of 9.55% and a negative net margin of 46.92%. The firm had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the firm earned $0.45 earnings per share. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. Equities analysts predict that Newell Brands Inc will post 1.22 earnings per share for the current fiscal year.

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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Institutional Ownership by Quarter for Newell Brands (NYSE:NWL)

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