7,272,200 Shares in Newell Brands Inc. (NASDAQ:NWL) Bought by Hennessy Advisors Inc.

Hennessy Advisors Inc. acquired a new position in Newell Brands Inc. (NASDAQ:NWL - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 7,272,200 shares of the company's stock, valued at approximately $72,431,000. Newell Brands comprises 2.2% of Hennessy Advisors Inc.'s investment portfolio, making the stock its 4th biggest holding. Hennessy Advisors Inc. owned about 1.75% of Newell Brands as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of NWL. Quarry LP boosted its holdings in Newell Brands by 104.4% in the second quarter. Quarry LP now owns 7,941 shares of the company's stock valued at $51,000 after purchasing an additional 4,056 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of Newell Brands by 24.8% in the 4th quarter. Versant Capital Management Inc now owns 8,376 shares of the company's stock valued at $83,000 after buying an additional 1,666 shares during the period. Venturi Wealth Management LLC purchased a new stake in shares of Newell Brands in the third quarter worth about $70,000. Claro Advisors LLC acquired a new stake in Newell Brands during the third quarter worth about $79,000. Finally, Atomi Financial Group Inc. purchased a new position in Newell Brands during the third quarter valued at approximately $79,000. Hedge funds and other institutional investors own 92.50% of the company's stock.

Analysts Set New Price Targets

NWL has been the topic of several recent analyst reports. Canaccord Genuity Group increased 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. 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 research report on Thursday. Wells Fargo & Company raised their price objective on Newell Brands from $9.00 to $11.00 and gave the company an "equal weight" rating in a report on Tuesday, January 7th. UBS Group upped their target price on Newell Brands from $9.50 to $10.50 and gave the stock a "neutral" rating in a research note on Thursday. Finally, Barclays lifted their price target on shares of Newell Brands from $10.00 to $11.00 and gave the company an "overweight" rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $10.70.

Newell Brands Trading Down 0.4 %

Shares of NASDAQ NWL traded down $0.04 during midday trading on Friday, reaching $10.12. 4,361,586 shares of the stock were exchanged, compared to its average volume of 4,176,267. 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 $4.21 billion, a P/E ratio of -16.87, a PEG ratio of 0.86 and a beta of 0.89. The company has a 50 day simple moving average of $9.92 and a 200 day simple moving average of $8.30. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.50 and a current ratio of 0.99.

Newell Brands (NASDAQ:NWL - Get Free Report) last released its quarterly earnings results on Friday, October 25th. The company reported $0.16 earnings per share for the quarter, hitting analysts' consensus estimates of $0.16. The business had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.96 billion. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. The company's revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 EPS. As a group, equities analysts expect that Newell Brands Inc. will post 0.65 earnings per share for the current year.

Newell Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.77%. Newell Brands's payout ratio is presently -46.67%.

Insider Activity at Newell Brands

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