Norges Bank acquired a new stake in Newell Brands Inc. (NASDAQ:NWL - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 3,732,324 shares of the company's stock, valued at approximately $37,174,000. Norges Bank owned 0.90% of Newell Brands at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of NWL. Harvest Fund Management Co. Ltd acquired a new position in shares of Newell Brands in the fourth quarter worth $46,000. Smartleaf Asset Management LLC boosted its holdings in Newell Brands by 140.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 7,912 shares of the company's stock valued at $79,000 after purchasing an additional 4,617 shares during the period. Versant Capital Management Inc grew its stake in Newell Brands by 24.8% during the 4th quarter. Versant Capital Management Inc now owns 8,376 shares of the company's stock worth $83,000 after purchasing an additional 1,666 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Newell Brands during the 4th quarter worth about $101,000. Finally, Parametrica Management Ltd purchased a new stake in Newell Brands during the 4th quarter worth about $107,000. Hedge funds and other institutional investors own 92.50% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the company. Royal Bank of Canada decreased their price objective on Newell Brands from $9.50 to $9.00 and set a "sector perform" rating for the company in a research note on Monday, February 10th. Wells Fargo & Company lowered their price target on shares of Newell Brands from $9.00 to $7.00 and set an "equal weight" rating for the company in a report on Wednesday, April 2nd. UBS Group raised their price objective on shares of Newell Brands from $9.50 to $10.50 and gave the company a "neutral" rating in a report on Thursday, January 16th. Citigroup lowered their target price on shares of Newell Brands from $10.50 to $7.75 and set a "neutral" rating for the company in a research note on Monday, February 10th. Finally, JPMorgan Chase & Co. lifted their price target on Newell Brands from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $10.58.
Get Our Latest Stock Report on NWL
Newell Brands Stock Performance
Shares of NASDAQ:NWL traded down $0.23 during trading on Monday, reaching $4.89. The company had a trading volume of 17,315,118 shares, compared to its average volume of 6,437,989. The stock's fifty day moving average price is $7.21 and its 200 day moving average price is $8.46. Newell Brands Inc. has a fifty-two week low of $4.67 and a fifty-two week high of $11.78. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.14 and a quick ratio of 0.56. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of -9.40, a price-to-earnings-growth ratio of 0.95 and a beta of 0.84.
Newell Brands (NASDAQ:NWL - Get Free Report) last released its 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 negative net margin of 2.85% and a positive return on equity of 9.76%. During the same period in the previous year, the firm posted $0.22 earnings per share. As a group, equities research analysts predict that Newell Brands Inc. will post 0.72 EPS for the current year.
Newell Brands Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.07 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.28 annualized dividend and a dividend yield of 5.73%. Newell Brands's dividend payout ratio is currently -53.85%.
Newell Brands Company Profile
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Free Report)
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.
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