Charles Schwab Investment Management Inc. Purchases 178,028 Shares of Newell Brands Inc. (NASDAQ:NWL)

Charles Schwab Investment Management Inc. lifted its stake in shares of Newell Brands Inc. (NASDAQ:NWL - Free Report) by 4.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,992,076 shares of the company's stock after purchasing an additional 178,028 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.96% of Newell Brands worth $39,761,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Hennessy Advisors Inc. bought a new position in shares of Newell Brands in the fourth quarter worth $72,431,000. Victory Capital Management Inc. boosted its holdings in shares of Newell Brands by 5,324.8% in the third quarter. Victory Capital Management Inc. now owns 4,724,266 shares of the company's stock worth $36,282,000 after buying an additional 4,637,180 shares during the period. Massachusetts Financial Services Co. MA grew its position in Newell Brands by 18.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 16,618,316 shares of the company's stock worth $127,629,000 after purchasing an additional 2,634,114 shares in the last quarter. Bank of New York Mellon Corp raised its position in Newell Brands by 36.8% during the fourth quarter. Bank of New York Mellon Corp now owns 4,026,323 shares of the company's stock valued at $40,102,000 after buying an additional 1,083,921 shares during the period. Finally, FMR LLC increased its holdings in shares of Newell Brands by 21.5% in the 3rd quarter. FMR LLC now owns 4,354,913 shares of the company's stock valued at $33,446,000 after purchasing an additional 770,717 shares during the period. Institutional investors own 92.50% of the company's stock.

Remove Ads

Newell Brands Price Performance

NASDAQ:NWL traded up $0.06 during trading hours on Wednesday, reaching $6.57. The company had a trading volume of 4,115,295 shares, compared to its average volume of 8,964,798. The company has a quick ratio of 0.56, a current ratio of 1.14 and a debt-to-equity ratio of 1.64. The stock has a 50-day moving average of $8.20 and a two-hundred day moving average of $8.56. Newell Brands Inc. has a one year low of $5.39 and a one year high of $11.78. The firm has a market capitalization of $2.74 billion, a PE ratio of -12.63, a PEG ratio of 0.95 and a beta of 0.88.

Newell Brands (NASDAQ:NWL - Get Free Report) last posted its earnings results on Friday, February 7th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.02. Newell Brands had a negative net margin of 2.85% and a positive return on equity of 9.76%. During the same period last year, the business posted $0.22 EPS. Analysts forecast that Newell Brands Inc. will post 0.72 earnings per share for the current year.

Newell Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.07 per share. The ex-dividend date was Friday, February 28th. This represents a $0.28 dividend on an annualized basis and a yield of 4.26%. Newell Brands's dividend payout ratio is -53.85%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NWL. 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. Citigroup lowered their target price on shares of Newell Brands from $10.50 to $7.75 and set a "neutral" rating on the stock in a research note on Monday, February 10th. Truist Financial upgraded Newell Brands from a "hold" rating to a "buy" rating and upped their price target for the stock from $10.00 to $17.00 in a report on Monday, December 9th. Royal Bank of Canada dropped their price objective on shares of Newell Brands from $9.50 to $9.00 and set a "sector perform" rating on the stock in a report on Monday, February 10th. Finally, Wells Fargo & Company lowered their price objective on Newell Brands from $11.00 to $9.00 and set an "equal weight" rating on the stock in a research report on Monday, February 10th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $10.81.

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.