Weiss Asset Management LP Invests $931,000 in Newell Brands Inc. (NASDAQ:NWL)

Weiss Asset Management LP bought a new position in shares of Newell Brands Inc. (NASDAQ:NWL - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 121,197 shares of the company's stock, valued at approximately $931,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA raised its position in shares of Newell Brands by 18.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 16,618,316 shares of the company's stock valued at $127,629,000 after buying an additional 2,634,114 shares during the last quarter. Primecap Management Co. CA grew its holdings in Newell Brands by 4.8% in the third quarter. Primecap Management Co. CA now owns 14,723,079 shares of the company's stock valued at $113,073,000 after purchasing an additional 674,015 shares during the period. Dimensional Fund Advisors LP grew its holdings in Newell Brands by 29.2% in the second quarter. Dimensional Fund Advisors LP now owns 11,818,316 shares of the company's stock valued at $75,753,000 after purchasing an additional 2,668,384 shares during the period. Deprince Race & Zollo Inc. grew its holdings in Newell Brands by 1.4% in the second quarter. Deprince Race & Zollo Inc. now owns 10,227,445 shares of the company's stock valued at $65,558,000 after purchasing an additional 137,441 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in Newell Brands by 5,324.8% in the third quarter. Victory Capital Management Inc. now owns 4,724,266 shares of the company's stock valued at $36,282,000 after purchasing an additional 4,637,180 shares during the period. Institutional investors and hedge funds own 92.50% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on NWL shares. Canaccord Genuity Group boosted their target price on shares of Newell Brands from $13.00 to $15.00 and gave the company a "buy" rating in a report on Friday. Wells Fargo & Company boosted their target price on shares of Newell Brands from $8.00 to $9.00 and gave the company an "equal weight" rating in a report on Monday, October 28th. Citigroup downgraded shares of Newell Brands from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. lowered their target price on shares of Newell Brands from $9.00 to $8.00 and set a "neutral" rating for the company in a report on Friday, October 11th. Finally, Barclays upgraded shares of Newell Brands from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $8.00 to $10.00 in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $10.00.

Newell Brands Stock Up 11.6 %

Shares of NASDAQ NWL traded up $1.20 during trading on Monday, reaching $11.51. 13,009,947 shares of the stock were exchanged, compared to its average volume of 5,535,090. The business's 50-day moving average price is $8.57 and its 200 day moving average price is $7.64. Newell Brands Inc. has a twelve month low of $5.39 and a twelve month high of $11.58. The company has a quick ratio of 0.50, a current ratio of 0.99 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $4.79 billion, a price-to-earnings ratio of -19.25, a price-to-earnings-growth ratio of 0.95 and a beta of 0.90.

Newell Brands (NASDAQ:NWL - Get Free Report) last posted its earnings results on Friday, October 25th. The company reported $0.16 EPS for the quarter, hitting analysts' consensus estimates of $0.16. The business had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.96 billion. Newell Brands had a negative net margin of 3.22% and a positive return on equity of 10.22%. The business's revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.39 earnings per share. As a group, equities analysts forecast that Newell Brands Inc. will post 0.66 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.07 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.28 annualized dividend and a yield of 2.43%. Newell Brands's dividend payout ratio is presently -46.67%.

Insider Activity at Newell Brands

In other Newell Brands news, insider Bradford R. Turner sold 20,000 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $8.96, for a total transaction of $179,200.00. Following the sale, the insider now directly owns 230,254 shares of the company's stock, valued at approximately $2,063,075.84. This represents a 7.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tracy L. Platt sold 23,343 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $10.31, for a total transaction of $240,666.33. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by corporate insiders.

About Newell Brands

Newell Brands Inc engages in the design, manufacture, sourcing, and distribution of consumer and commercial products worldwide. The company operates in three segments: Home and Commercial Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solution products under the Rubbermaid, Rubbermaid Commercial Products, Mapa, and Spontex brands; closet and garage organization products; hygiene systems and material handling solutions; household products, such as kitchen appliances under the Crockpot, Mr.