Newell Brands Inc. (NASDAQ:NWL) Position Boosted by Primecap Management Co. CA

Primecap Management Co. CA boosted its position in shares of Newell Brands Inc. (NASDAQ:NWL - Free Report) by 4.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,723,079 shares of the company's stock after purchasing an additional 674,015 shares during the period. Primecap Management Co. CA owned approximately 3.54% of Newell Brands worth $113,073,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its position in shares of Newell Brands by 5,324.8% in the 3rd quarter. Victory Capital Management Inc. now owns 4,724,266 shares of the company's stock valued at $36,282,000 after purchasing an additional 4,637,180 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Newell Brands by 29.2% in the second quarter. Dimensional Fund Advisors LP now owns 11,818,316 shares of the company's stock valued at $75,753,000 after acquiring an additional 2,668,384 shares in the last quarter. AQR Capital Management LLC boosted its stake 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 acquiring an additional 1,314,514 shares during the last quarter. EVR Research LP boosted its stake in Newell Brands by 340.0% during the 2nd quarter. EVR Research LP now owns 660,000 shares of the company's stock valued at $4,231,000 after acquiring an additional 510,000 shares during the last quarter. Finally, M&G PLC grew its holdings in Newell Brands by 46.2% during the 3rd quarter. M&G PLC now owns 1,462,030 shares of the company's stock worth $11,696,000 after acquiring an additional 462,030 shares in the last quarter. Hedge funds and other institutional investors own 92.50% of the company's stock.

Insider Activity

In related news, insider Bradford R. Turner sold 20,000 shares of the business's stock in a transaction that occurred 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 sale, the insider now owns 230,254 shares of the company's stock, valued at $2,063,075.84. The trade was a 7.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.58% of the company's stock.

Newell Brands Stock Performance

Shares of Newell Brands stock traded up $0.18 during trading on Friday, hitting $9.12. 4,951,606 shares of the stock were exchanged, compared to its average volume of 5,496,362. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.50 and a current ratio of 0.99. Newell Brands Inc. has a 12 month low of $5.39 and a 12 month high of $9.68. The stock's fifty day moving average is $8.08 and its 200 day moving average is $7.54. The stock has a market cap of $3.79 billion, a PE ratio of -14.90, a P/E/G ratio of 0.82 and a beta of 0.89.

Newell Brands (NASDAQ:NWL - Get Free Report) last posted its earnings results on Friday, October 25th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. The firm had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.96 billion. Newell Brands had a negative net margin of 3.22% and a positive return on equity of 10.22%. Newell Brands's quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.39 EPS. As a group, sell-side analysts anticipate that Newell Brands Inc. will post 0.66 EPS for the current year.

Newell Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.07 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.28 annualized dividend and a dividend yield of 3.07%. Newell Brands's payout ratio is -46.67%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on NWL shares. Royal Bank of Canada increased their price target on shares of Newell Brands from $7.50 to $9.50 and gave the stock a "sector perform" rating in a research report on Monday, July 29th. Canaccord Genuity Group increased their target price on Newell Brands from $12.00 to $13.00 and gave the stock a "buy" rating in a report on Monday, October 28th. Truist Financial lifted their target price on Newell Brands from $8.00 to $10.00 and gave the stock a "hold" rating in a research report on Tuesday, July 30th. Barclays raised Newell Brands from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $8.00 to $10.00 in a research report on Wednesday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Newell Brands from $9.00 to $8.00 and set a "neutral" rating for the company in a report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, Newell Brands has a consensus rating of "Hold" and an average price target of $9.10.

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.