AGF Management Ltd. Has $2.70 Million Stock Position in Newell Brands Inc. (NASDAQ:NWL)

AGF Management Ltd. reduced its holdings in Newell Brands Inc. (NASDAQ:NWL - Free Report) by 37.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 271,046 shares of the company's stock after selling 164,262 shares during the period. AGF Management Ltd. owned about 0.07% of Newell Brands worth $2,700,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of NWL. Massachusetts Financial Services Co. MA increased its holdings in shares of Newell Brands by 18.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,618,316 shares of the company's stock valued at $127,629,000 after purchasing an additional 2,634,114 shares during the period. Primecap Management Co. CA grew its position in Newell Brands by 4.8% during 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 in the last quarter. Hennessy Advisors Inc. purchased a new position in Newell Brands during the fourth quarter valued at approximately $72,431,000. Victory Capital Management Inc. increased its stake in Newell Brands by 43.7% in the 4th quarter. Victory Capital Management Inc. now owns 6,790,865 shares of the company's stock valued at $67,637,000 after buying an additional 2,066,599 shares during the period. Finally, Geode Capital Management LLC lifted its position in Newell Brands by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 6,635,283 shares of the company's stock worth $50,973,000 after buying an additional 115,459 shares in the last quarter. 92.50% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

Several research firms have recently commented on NWL. Royal Bank of Canada lowered their price target on shares of Newell Brands from $9.50 to $9.00 and set a "sector perform" rating on the stock in a report on Monday, February 10th. Truist Financial raised Newell Brands from a "hold" rating to a "buy" rating and upped their target price for the stock from $10.00 to $17.00 in a research report on Monday, December 9th. UBS Group lifted their price target on Newell Brands from $9.50 to $10.50 and gave the company a "neutral" rating in a report on Thursday, January 16th. Barclays increased their price objective on Newell Brands from $10.00 to $11.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Newell Brands from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Newell Brands has a consensus rating of "Hold" and a consensus price target of $10.81.

Newell Brands Stock Performance

NWL stock traded up $0.09 during midday trading on Monday, hitting $6.64. 4,907,277 shares of the company traded hands, compared to its average volume of 9,139,434. Newell Brands Inc. has a twelve month low of $5.39 and a twelve month high of $11.78. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of -12.77, a price-to-earnings-growth ratio of 0.95 and a beta of 0.88. The company has a quick ratio of 0.56, a current ratio of 1.14 and a debt-to-equity ratio of 1.64. The business has a 50 day simple moving average of $8.34 and a 200-day simple moving average of $8.57.

Newell Brands (NASDAQ:NWL - Get Free Report) last posted its earnings results on Friday, February 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. Newell Brands had a negative net margin of 2.85% and a positive return on equity of 9.76%. During the same period last year, the firm posted $0.22 EPS. As a group, equities research analysts predict that Newell Brands Inc. will post 0.72 earnings per share for the current year.

Newell Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.28 annualized dividend and a dividend yield of 4.22%. Newell Brands's dividend payout ratio is presently -53.85%.

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.