ARGA Investment Management LP Acquires 383,662 Shares of Newell Brands Inc. (NASDAQ:NWL)

ARGA Investment Management LP increased its position in shares of Newell Brands Inc. (NASDAQ:NWL - Free Report) by 45.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,236,168 shares of the company's stock after acquiring an additional 383,662 shares during the period. Newell Brands comprises 0.4% of ARGA Investment Management LP's holdings, making the stock its 26th largest holding. ARGA Investment Management LP owned approximately 0.30% of Newell Brands worth $12,312,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Massachusetts Financial Services Co. MA grew its holdings in shares of Newell Brands by 18.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 16,618,316 shares of the company's stock worth $127,629,000 after purchasing an additional 2,634,114 shares during the last quarter. Primecap Management Co. CA lifted its holdings in Newell Brands by 4.8% during the 3rd quarter. Primecap Management Co. CA now owns 14,723,079 shares of the company's stock worth $113,073,000 after buying an additional 674,015 shares during the period. Hennessy Advisors Inc. acquired a new position in Newell Brands during the 4th quarter worth about $72,431,000. Geode Capital Management LLC lifted its holdings in Newell Brands by 1.8% during 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 during the period. Finally, Victory Capital Management Inc. lifted its holdings in Newell Brands by 5,324.8% during the 3rd quarter. Victory Capital Management Inc. now owns 4,724,266 shares of the company's stock worth $36,282,000 after buying an additional 4,637,180 shares during the period. Institutional investors own 92.50% of the company's stock.

Newell Brands Stock Performance

Newell Brands stock traded down $2.56 during trading on Friday, hitting $7.13. The stock had a trading volume of 34,576,256 shares, compared to its average volume of 5,673,623. Newell Brands Inc. has a 1 year low of $5.39 and a 1 year high of $11.78. 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 stock's 50 day moving average is $10.15 and its two-hundred day moving average is $8.68. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of -11.88, a price-to-earnings-growth ratio of 1.09 and a beta of 0.89.

Newell Brands (NASDAQ:NWL - Get Free Report) last posted its quarterly earnings data on Friday, February 7th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. During the same period in the prior year, the business earned $0.22 EPS. As a group, analysts predict that Newell Brands Inc. will post 0.65 EPS for the current year.

Newell Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend was Friday, November 29th. Newell Brands's dividend payout ratio (DPR) is currently -46.67%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. UBS Group lifted their target price on shares of Newell Brands from $9.50 to $10.50 and gave the stock a "neutral" rating in a research note on Thursday, January 16th. Truist Financial upgraded Newell Brands from a "hold" rating to a "buy" rating and increased their price target for the stock from $10.00 to $17.00 in a report on Monday, December 9th. JPMorgan Chase & Co. increased their price target on Newell Brands from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Thursday, January 16th. Barclays upped their target price on shares of Newell Brands from $10.00 to $11.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Finally, Canaccord Genuity Group upped their target price on shares of Newell Brands from $13.00 to $15.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $10.70.

Insider Activity

In other Newell Brands news, insider Tracy L. Platt sold 23,343 shares of Newell Brands stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $10.31, for a total transaction of $240,666.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.58% of the company's stock.

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.