JPMorgan Chase & Co. Has $4.45 Million Stake in Newell Brands Inc. (NASDAQ:NWL)

JPMorgan Chase & Co. cut its position in shares of Newell Brands Inc. (NASDAQ:NWL - Free Report) by 90.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 579,620 shares of the company's stock after selling 5,493,127 shares during the quarter. JPMorgan Chase & Co. owned 0.14% of Newell Brands worth $4,451,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Quarry LP grew its holdings in Newell Brands by 104.4% in the 2nd quarter. Quarry LP now owns 7,941 shares of the company's stock worth $51,000 after buying an additional 4,056 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in Newell Brands during the third quarter worth approximately $70,000. Atomi Financial Group Inc. acquired a new position in shares of Newell Brands in the 3rd quarter worth $79,000. Claro Advisors LLC acquired a new position in shares of Newell Brands in the third quarter worth about $79,000. Finally, Optas LLC acquired a new position in Newell Brands during the third quarter valued at $85,000. 92.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Newell Brands

In other news, insider Bradford R. Turner sold 20,000 shares of the company's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $8.96, for a total value of $179,200.00. Following the sale, the insider now directly owns 230,254 shares of the company's stock, valued at approximately $2,063,075.84. This represents a 7.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tracy L. Platt sold 23,343 shares of Newell Brands stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $10.31, for a total value of $240,666.33. The disclosure for this sale can be found here. Insiders own 0.61% of the company's stock.

Wall Street Analysts Forecast Growth

NWL has been the subject of a number of research reports. Wells Fargo & Company lifted their price objective on Newell Brands from $9.00 to $11.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 7th. Barclays increased their price objective on Newell Brands from $10.00 to $11.00 and gave the company an "overweight" rating in a research report on Friday. Truist Financial upgraded Newell Brands from a "hold" rating to a "buy" rating and raised their price objective for the stock from $10.00 to $17.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. upped their target price on shares of Newell Brands from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Thursday. Finally, UBS Group increased their target price on shares of Newell Brands from $9.50 to $10.50 and gave the stock a "neutral" rating in a research report on Thursday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Newell Brands currently has an average rating of "Hold" and a consensus price target of $10.70.

Newell Brands Trading Down 0.4 %

Shares of NWL stock traded down $0.04 on Friday, hitting $10.12. The stock had a trading volume of 4,361,586 shares, compared to its average volume of 4,176,267. The firm has a market cap of $4.21 billion, a P/E ratio of -16.87, a PEG ratio of 0.86 and a beta of 0.89. Newell Brands Inc. has a twelve month low of $5.39 and a twelve month high of $11.78. 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 company has a fifty day moving average price of $9.92 and a two-hundred day moving average price of $8.30.

Newell Brands (NASDAQ:NWL - Get Free Report) last posted its quarterly earnings data on Friday, October 25th. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. Newell Brands had a negative net margin of 3.22% and a positive return on equity of 10.22%. The business had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.96 billion. During the same period in the previous year, the firm posted $0.39 EPS. The firm's revenue was down 2.6% compared to the same quarter last year. As a group, analysts forecast that Newell Brands Inc. will post 0.65 earnings per share for the current fiscal year.

Newell Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a dividend of $0.07 per share. The ex-dividend date was Friday, November 29th. This represents a $0.28 annualized dividend and a yield of 2.77%. Newell Brands's payout ratio is presently -46.67%.

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.