National Bank of Canada FI Buys 202,531 Shares of Newell Brands Inc. (NASDAQ:NWL)

National Bank of Canada FI lifted its holdings in Newell Brands Inc. (NASDAQ:NWL - Free Report) by 8,655.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 204,871 shares of the company's stock after acquiring an additional 202,531 shares during the period. National Bank of Canada FI's holdings in Newell Brands were worth $2,041,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of NWL. Hennessy Advisors Inc. acquired a new stake in Newell Brands in the fourth quarter valued at $72,431,000. Norges Bank acquired a new position in Newell Brands in the fourth quarter worth about $37,174,000. Arrowstreet Capital Limited Partnership raised its stake in Newell Brands by 214.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,349,136 shares of the company's stock valued at $33,357,000 after buying an additional 2,282,949 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of 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 acquiring an additional 2,066,599 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Newell Brands by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 46,892,882 shares of the company's stock worth $467,053,000 after purchasing an additional 1,974,823 shares during the last quarter. Institutional investors and hedge funds own 92.50% of the company's stock.

Newell Brands Stock Up 6.0 %

Shares of NWL stock traded up $0.29 during trading on Monday, hitting $5.01. 939,049 shares of the company were exchanged, compared to its average volume of 6,582,833. The business's 50-day simple moving average is $6.45 and its 200 day simple moving average is $8.32. Newell Brands Inc. has a twelve month low of $4.22 and a twelve month high of $11.78. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of -9.63, a P/E/G ratio of 0.95 and a beta of 0.84. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.56 and a current ratio of 1.14.

Remove Ads

Newell Brands (NASDAQ:NWL - Get Free Report) last announced its quarterly earnings results 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 9.76% and a negative net margin of 2.85%. During the same quarter in the prior year, the firm earned $0.22 EPS. As a group, analysts forecast that Newell Brands Inc. will post 0.72 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.07 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 5.59%. Newell Brands's dividend payout ratio is currently -53.85%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on NWL shares. Wells Fargo & Company lowered their price objective on shares of Newell Brands from $9.00 to $7.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 2nd. Canaccord Genuity Group reduced their price objective on Newell Brands from $15.00 to $14.00 and set a "buy" rating for the company in a research report on Monday, February 10th. Royal Bank of Canada dropped their target price on Newell Brands from $9.50 to $9.00 and set a "sector perform" rating on the stock in a research report on Monday, February 10th. Citigroup dropped their price objective on shares of Newell Brands from $10.50 to $7.75 and set a "neutral" rating on the stock in a report on Monday, February 10th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Newell Brands from $8.00 to $6.00 and set a "neutral" rating for the company in a research report on Friday. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $10.14.

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.