Newell Brands Inc (NYSE:NWL) Shares Bought by Convergence Investment Partners LLC

Convergence Investment Partners LLC raised its stake in Newell Brands Inc (NYSE:NWL) by 45.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,506 shares of the company’s stock after acquiring 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 also recently modified their holdings of NWL. Lathrop Investment Management Corp boosted its position in shares of Newell Brands by 1.7% during the second quarter. Lathrop Investment Management Corp now owns 321,831 shares of the company’s stock worth $5,111,000 after buying an additional 5,488 shares during the period. State of Michigan Retirement System boosted its position in shares of Newell Brands by 11.6% during the second quarter. State of Michigan Retirement System now owns 97,471 shares of the company’s stock worth $1,548,000 after buying an additional 10,100 shares during the period. Capital Management Corp VA boosted its position in shares of Newell Brands by 12.5% during the second quarter. Capital Management Corp VA now owns 341,890 shares of the company’s stock worth $5,429,000 after buying an additional 38,115 shares during the period. Pacer Advisors Inc. boosted its position in shares of Newell Brands by 833.3% during the second quarter. Pacer Advisors Inc. now owns 145,034 shares of the company’s stock worth $2,303,000 after buying an additional 129,494 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Newell Brands by 75.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 153,777 shares of the company’s stock worth $2,442,000 after buying an additional 66,163 shares during the period. Institutional investors own 98.42% of the company’s stock.

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Newell Brands from $13.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Oppenheimer assumed coverage on Newell Brands in a research report on Friday, May 1st. They set a “hold” rating for the company. Cfra restated a “sell” rating and issued a $10.00 target price (down from $21.00) on shares of Newell Brands in a research report on Friday, May 1st. Deutsche Bank upped their target price on Newell Brands from $13.00 to $17.00 and gave the stock a “hold” rating in a research report on Monday, July 27th. Finally, TheStreet downgraded Newell Brands from a “c-” rating to a “d” rating in a research report on Friday, May 1st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $15.88.

NWL traded down $1.32 during 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. The firm has a market capitalization of $6.96 billion, a price-to-earnings ratio of 5.96, a price-to-earnings-growth ratio of 3.82 and a beta of 0.90. Newell Brands Inc has a 1-year low of $10.44 and a 1-year high of $20.99. The stock has a 50 day moving average of $15.98 and a two-hundred day moving average of $15.48. The company has a quick ratio of 2.53, a current ratio of 2.98 and a debt-to-equity ratio of 1.54.

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

Newell Brands Company 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.

Further Reading: How does a security become overbought?

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

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