Citigroup Inc. Acquires 88,164 Shares of Newell Brands Inc. (NASDAQ:NWL)

Citigroup Inc. lifted its stake in shares of Newell Brands Inc. (NASDAQ:NWL - Free Report) by 7.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,233,918 shares of the company's stock after acquiring an additional 88,164 shares during the quarter. Citigroup Inc. owned 0.30% of Newell Brands worth $9,476,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Principal Financial Group Inc. lifted its position in shares of Newell Brands by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,959,641 shares of the company's stock valued at $15,050,000 after acquiring an additional 82,337 shares in the last quarter. Versor Investments LP lifted its holdings in shares of Newell Brands by 135.6% in the third quarter. Versor Investments LP now owns 98,700 shares of the company's stock valued at $758,000 after purchasing an additional 56,800 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Newell Brands by 29.2% in the second quarter. Dimensional Fund Advisors LP now owns 11,818,316 shares of the company's stock worth $75,753,000 after buying an additional 2,668,384 shares during the period. Primecap Management Co. CA grew its holdings in shares of Newell Brands by 4.8% during the third quarter. Primecap Management Co. CA now owns 14,723,079 shares of the company's stock valued at $113,073,000 after buying an additional 674,015 shares in the last quarter. Finally, ClariVest Asset Management LLC purchased a new position in shares of Newell Brands during the second quarter valued at $596,000. 92.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wells Fargo & Company boosted their price target on shares of Newell Brands from $8.00 to $9.00 and gave the company an "equal weight" rating in a report on Monday, October 28th. Canaccord Genuity Group raised their price objective on Newell Brands from $12.00 to $13.00 and gave the company a "buy" rating in a research note on Monday, October 28th. JPMorgan Chase & Co. reduced their target price on Newell Brands from $9.00 to $8.00 and set a "neutral" rating for the company in a report on Friday, October 11th. Citigroup lowered shares of Newell Brands from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 13th. Finally, Barclays upgraded shares of Newell Brands from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $8.00 to $10.00 in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $9.10.

Newell Brands Stock Performance

NWL traded up $0.10 on Friday, hitting $9.59. 2,440,266 shares of the stock traded hands, compared to its average volume of 5,489,834. The business has a fifty day moving average price of $8.31 and a two-hundred day moving average price of $7.60. The company has a current ratio of 0.99, a quick ratio of 0.50 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $3.99 billion, a PE ratio of -15.98, a P/E/G ratio of 0.88 and a beta of 0.89. Newell Brands Inc. has a 52 week low of $5.39 and a 52 week high of $9.72.

Newell Brands (NASDAQ:NWL - Get Free Report) last released its quarterly earnings data on Friday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.16. The business had revenue of $1.95 billion for 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%. Newell Brands's quarterly revenue was down 2.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.39 earnings per share. On average, research analysts predict that Newell Brands Inc. will post 0.66 EPS for the current fiscal year.

Newell Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, November 29th. This represents a $0.28 annualized dividend and a dividend yield of 2.92%. Newell Brands's dividend payout ratio (DPR) is currently -46.67%.

Insider Activity at Newell Brands

In other Newell Brands news, insider Bradford R. Turner sold 20,000 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $8.96, for a total transaction of $179,200.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.58% of the stock is currently owned by insiders.

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.