Bank of New York Mellon Corp Purchases 1,083,921 Shares of Newell Brands Inc. (NASDAQ:NWL)

Bank of New York Mellon Corp increased its stake in shares of Newell Brands Inc. (NASDAQ:NWL - Free Report) by 36.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,026,323 shares of the company's stock after purchasing an additional 1,083,921 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.97% of Newell Brands worth $40,102,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. WESPAC Advisors LLC acquired a new stake in Newell Brands during the fourth quarter valued at $868,000. Handelsbanken Fonder AB lifted its holdings in shares of Newell Brands by 4.8% during the 4th quarter. Handelsbanken Fonder AB now owns 106,200 shares of the company's stock valued at $1,058,000 after buying an additional 4,900 shares during the last quarter. Ieq Capital LLC grew its stake in shares of Newell Brands by 230.4% in the 4th quarter. Ieq Capital LLC now owns 119,957 shares of the company's stock valued at $1,195,000 after buying an additional 83,649 shares in the last quarter. New York State Common Retirement Fund grew its stake in shares of Newell Brands by 5.9% in the 4th quarter. New York State Common Retirement Fund now owns 1,313,144 shares of the company's stock valued at $13,079,000 after buying an additional 72,635 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Newell Brands in the fourth quarter worth approximately $101,000. 92.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Newell Brands from $9.00 to $10.00 and gave the stock a "neutral" rating in a research report on Thursday, January 16th. Truist Financial upgraded shares of Newell Brands from a "hold" rating to a "buy" rating and upped their price objective for the stock from $10.00 to $17.00 in a report on Monday, December 9th. Royal Bank of Canada cut their target price on Newell Brands from $9.50 to $9.00 and set a "sector perform" rating on the stock in a report on Monday, February 10th. Canaccord Genuity Group reduced their price target 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. Finally, Barclays increased their price objective on Newell Brands from $10.00 to $11.00 and gave the company an "overweight" rating in a report on Friday, January 17th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $10.81.

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Newell Brands Stock Performance

Shares of Newell Brands stock traded down $0.02 during trading on Monday, reaching $6.73. The company's stock had a trading volume of 9,854,237 shares, compared to its average volume of 9,094,949. Newell Brands Inc. has a one year low of $5.39 and a one year high of $11.78. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.56 and a current ratio of 1.14. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of -12.94, a price-to-earnings-growth ratio of 0.95 and a beta of 0.88. The business's fifty day moving average price is $8.68 and its 200-day moving average price is $8.59.

Newell Brands (NASDAQ:NWL - Get Free Report) last issued its quarterly earnings results on Friday, February 7th. The company reported $0.16 EPS for the quarter, topping 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 period in the prior year, the company posted $0.22 EPS. As a group, equities research analysts predict that Newell Brands Inc. will post 0.72 earnings per share for the current year.

Newell Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date is Friday, February 28th. Newell Brands's dividend payout ratio (DPR) is presently -53.85%.

Newell Brands Company 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.