Principal Financial Group Inc. Purchases 82,337 Shares of Newell Brands Inc. (NASDAQ:NWL)

Principal Financial Group Inc. grew its holdings in shares of Newell Brands Inc. (NASDAQ:NWL - Free Report) by 4.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,959,641 shares of the company's stock after purchasing an additional 82,337 shares during the quarter. Principal Financial Group Inc. owned about 0.47% of Newell Brands worth $15,050,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Rothschild Investment LLC purchased a new position in Newell Brands during the 2nd quarter valued at about $26,000. Quarry LP grew its stake in Newell Brands by 104.4% during the second quarter. Quarry LP now owns 7,941 shares of the company's stock valued at $51,000 after acquiring an additional 4,056 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in Newell Brands during the 3rd quarter worth approximately $70,000. Atomi Financial Group Inc. purchased a new stake in Newell Brands in the 3rd quarter worth approximately $79,000. Finally, Claro Advisors LLC bought a new position in Newell Brands in the 3rd quarter valued at $79,000. Hedge funds and other institutional investors own 92.50% of the company's stock.

Insiders Place Their Bets

In related news, insider Bradford R. Turner sold 20,000 shares of the company's stock in a transaction on Tuesday, November 5th. The shares were 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 owns 230,254 shares in the company, valued at approximately $2,063,075.84. This represents a 7.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tracy L. Platt sold 23,343 shares of the firm's stock in a transaction on Friday, December 6th. The shares were sold at an average price of $10.31, for a total transaction of $240,666.33. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

Newell Brands Stock Performance

NWL traded up $0.09 during midday trading on Friday, hitting $10.28. 5,707,792 shares of the company traded hands, compared to its average volume of 5,546,771. The company's 50-day moving average is $9.50 and its 200 day moving average is $7.96. The company has a quick ratio of 0.50, a current ratio of 0.99 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $4.28 billion, a PE ratio of -17.13, a price-to-earnings-growth ratio of 1.02 and a beta of 0.90. Newell Brands Inc. has a 52 week low of $5.39 and a 52 week high of $11.78.

Newell Brands (NASDAQ:NWL - Get Free Report) last posted its earnings results on Friday, October 25th. The company reported $0.16 earnings per share for the quarter, meeting analysts' consensus estimates of $0.16. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the company earned $0.39 earnings per share. Newell Brands's revenue was down 2.6% on a year-over-year basis. On average, research analysts expect that Newell Brands Inc. will post 0.65 EPS for the current year.

Newell Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.72%. The ex-dividend date was Friday, November 29th. Newell Brands's dividend payout ratio is -46.67%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Newell Brands from $8.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Monday, October 28th. Barclays raised shares of Newell Brands from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $8.00 to $10.00 in a report on Wednesday, November 20th. JPMorgan Chase & Co. dropped 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. Canaccord Genuity Group increased their target price on Newell Brands from $13.00 to $15.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Finally, Truist Financial raised Newell Brands from a "hold" rating to a "buy" rating and lifted their price target for the stock from $10.00 to $17.00 in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, Newell Brands currently has a consensus rating of "Hold" and an average price target of $10.00.

Newell Brands Company 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.