Geode Capital Management LLC Acquires 115,459 Shares of Newell Brands Inc. (NASDAQ:NWL)

Geode Capital Management LLC grew its stake in Newell Brands Inc. (NASDAQ:NWL - Free Report) by 1.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,635,283 shares of the company's stock after acquiring an additional 115,459 shares during the quarter. Geode Capital Management LLC owned 1.60% of Newell Brands worth $50,973,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Victory Capital Management Inc. raised its holdings in Newell Brands by 5,324.8% in the 3rd quarter. Victory Capital Management Inc. now owns 4,724,266 shares of the company's stock worth $36,282,000 after acquiring an additional 4,637,180 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Newell Brands by 29.2% during 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 in the last quarter. Massachusetts Financial Services Co. MA lifted 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 valued at $127,629,000 after purchasing an additional 2,634,114 shares in the last quarter. Primecap Management Co. CA boosted its position in shares of Newell Brands by 17.7% during the second quarter. Primecap Management Co. CA now owns 14,049,064 shares of the company's stock valued at $90,054,000 after buying an additional 2,109,892 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in Newell Brands by 106.7% in the 2nd quarter. AQR Capital Management LLC now owns 2,546,418 shares of the company's stock worth $16,042,000 after buying an additional 1,314,514 shares in the last quarter. 92.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Bradford R. Turner sold 20,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $8.96, for a total transaction of $179,200.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tracy L. Platt sold 23,343 shares of Newell Brands stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $10.31, for a total value of $240,666.33. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by corporate insiders.

Newell Brands Price Performance

Shares of NWL traded up $0.03 during mid-day trading on Monday, reaching $10.05. The stock had a trading volume of 4,602,865 shares, compared to its average volume of 5,564,521. The business has a fifty day moving average of $9.25 and a 200 day moving average of $7.87. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.50 and a current ratio of 0.99. The firm has a market cap of $4.18 billion, a price-to-earnings ratio of -16.75, a PEG ratio of 1.02 and a beta of 0.90. Newell Brands Inc. has a 12 month low of $5.39 and a 12 month high of $11.78.

Newell Brands (NASDAQ:NWL - Get Free Report) last issued its quarterly earnings results on Friday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.16. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the prior year, the business posted $0.39 EPS. Newell Brands's revenue for the quarter was down 2.6% compared to the same quarter last year. Equities 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. Investors of record on Friday, November 29th were issued a $0.07 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.28 dividend on an annualized basis and a yield of 2.79%. Newell Brands's dividend payout ratio is presently -46.67%.

Analyst Ratings Changes

NWL has been the topic of several research analyst reports. Barclays upgraded shares of Newell Brands from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $8.00 to $10.00 in a research note on Wednesday, November 20th. JPMorgan Chase & Co. dropped their target price on shares of Newell Brands from $9.00 to $8.00 and set a "neutral" rating on the stock in a report on Friday, October 11th. 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 research note on Monday, October 28th. Truist Financial upgraded Newell Brands from a "hold" rating to a "buy" rating and raised their price target for the stock from $10.00 to $17.00 in a research note on Monday, December 9th. Finally, Canaccord Genuity Group upped their price objective on Newell Brands from $13.00 to $15.00 and gave the company a "buy" rating in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $10.00.

Newell Brands Profile

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.