Millennium Management LLC Buys 367,481 Shares of Newell Brands Inc. (NASDAQ:NWL)

Millennium Management LLC raised its position in shares of Newell Brands Inc. (NASDAQ:NWL - Free Report) by 65.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 924,973 shares of the company's stock after acquiring an additional 367,481 shares during the period. Millennium Management LLC owned approximately 0.22% of Newell Brands worth $5,929,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Deprince Race & Zollo Inc. lifted its position in Newell Brands by 1.4% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 10,227,445 shares of the company's stock worth $65,558,000 after acquiring an additional 137,441 shares in the last quarter. EVR Research LP boosted its stake in shares of Newell Brands by 340.0% in the second quarter. EVR Research LP now owns 660,000 shares of the company's stock valued at $4,231,000 after purchasing an additional 510,000 shares during the period. AQR Capital Management LLC grew its holdings in Newell Brands by 106.7% during the 2nd quarter. AQR Capital Management LLC now owns 2,546,418 shares of the company's stock valued at $16,042,000 after purchasing an additional 1,314,514 shares in the last quarter. AXA S.A. acquired a new stake in shares of Newell Brands during the second quarter valued at about $89,000. Finally, Public Sector Pension Investment Board increased its holdings in Newell Brands by 7.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 840,423 shares of the company's stock worth $5,387,000 after purchasing an additional 59,357 shares during the last quarter. Hedge funds and other institutional investors own 92.50% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on NWL. Truist Financial raised their price objective on shares of Newell Brands from $8.00 to $10.00 and gave the stock a "hold" rating in a report on Tuesday, July 30th. Wells Fargo & Company increased their target price on shares of Newell Brands from $6.00 to $9.00 and gave the stock an "equal weight" rating in a report on Monday, July 29th. JPMorgan Chase & Co. lowered their price objective on Newell Brands from $9.00 to $8.00 and set a "neutral" rating for the company in a research note on Friday. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Newell Brands from $8.00 to $9.00 and gave the company a "hold" rating in a report on Monday, July 29th. Finally, Royal Bank of Canada lifted their price objective on shares of Newell Brands from $7.50 to $9.50 and gave the company a "sector perform" rating in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $8.91.

Newell Brands Price Performance

Shares of NWL traded up $0.09 during mid-day trading on Friday, hitting $7.60. The company's stock had a trading volume of 3,081,665 shares, compared to its average volume of 5,370,018. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of -11.58, a PEG ratio of 1.29 and a beta of 0.91. Newell Brands Inc. has a fifty-two week low of $5.39 and a fifty-two week high of $9.24. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.98 and a quick ratio of 0.51. The firm has a 50-day moving average price of $7.37 and a 200 day moving average price of $7.32.

Newell Brands (NASDAQ:NWL - Get Free Report) last issued its earnings results on Friday, July 26th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.15. Newell Brands had a positive return on equity of 13.04% and a negative net margin of 3.43%. The business had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $2.05 billion. During the same period in the previous year, the firm posted $0.24 EPS. The company's quarterly revenue was down 7.8% on a year-over-year basis. On average, research analysts predict that Newell Brands Inc. will post 0.65 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.07 per share. The ex-dividend date was Friday, August 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.68%. Newell Brands's dividend payout ratio is currently -43.08%.

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.