Connect with us

Stocks

Can Billionaire Nelson Peltz Save Unilever (UL) Stock?

Unilever (NYSE:UL) stock is rising as activist investor Nelson Peltz joins its Board of Directors.
He’s also joining the company’s Compensation Committee.
This has investors hoping he can help improve the company.

Source: BYonkr…

  • Unilever (NYSE:UL) stock is rising as activist investor Nelson Peltz joins its Board of Directors.
  • He’s also joining the company’s Compensation Committee.
  • This has investors hoping he can help improve the company.

Source: BYonkruud / Shutterstock.com

Unilever (NYSE:UL) stock is a hot topic on Tuesday following news that activist investor Nelson Peltz is joining its Board of Directors.

Peltz’s appointment to the company’s Board is expected to go into effect on July 20, 2022. This has him taking a non-executive seat on the Board. He joins the company as his investment fund, Trian Fund Management, holds a 1.5% stake in UL stock.

Advertisement

So why exactly is Peltz taking an interest in UL stock? The company hasn’t been doing the best lately and investors aren’t overly happy with it. This has them hoping that the activist investor can turn that around. On that same note, Unilever has also added him to its Compensation Committee.

It’s worth mentioning that Nelson Peltz has served on the Boards of several other companies in the past. Among them are Procter & Gamble (NYSE:PG), H.J. Heinz, now Kraft Heinz (NASDAQ:KHC), and Mondelēz International (NASDAQ:MDLZ).

Advertisement

Analysts believe that Peltz joining Unilever’s Board is a positive for UL stock. Jack Martin, fund manager at Unilever shareholder Oberon Investments, said as much to Reuters.

“I think it’s fantastic news. Nelson Peltz is a man with extensive experience of taking activist stakes in some of the largest consumer companies in the world and has been enormously successful doing so.”

Advertisement
  • The 7 Best Stocks to Buy for June 2022

Peltz joining the company’s Board also has UL stock seeing heavy trading today. As of this writing, more than 13 million shares are on the move. That’s a mighty leap over its daily average trading volume of 4.2 million shares.

UL stock is up 9.6% as of Tuesday morning.

Investors on the lookout for more recent stock market news are in luck!

Advertisement

We’ve got all the hottest stock news worth checking in on today! That includes what’s going on with Mullen Automotive (NASDAQ:MULN), TherapeuticsMD (NASDAQ:TXMD), and airline stocks today. You can find out more on these matters at the following links!

Advertisement

More Tuesday Stock Market News

  • Mullen Automotive (MULN) Stock Gains 30% on Battery Test News
  • Why Is TherapeuticsMD (TXMD) Stock Up 360% Today?
  • Airline Stocks AAL, DAL, UAL, JBLU Sink on Flight Cancellations

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

More From InvestorPlace

  • Stock Prodigy Who Found NIO at $2… Says Buy THIS
  • It doesn’t matter if you have $500 in savings or $5 million. Do this now.
  • Get in Now on Tiny $3 ‘Forever Battery’ Stock

The post Can Billionaire Nelson Peltz Save Unilever (UL) Stock? appeared first on InvestorPlace.

InvestorPlace| InvestorPlace

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *