State Street Corp Trims Stock Position in Newell Brands Inc. (NASDAQ:NWL)

State Street Corp lessened its position in shares of Newell Brands Inc. (NASDAQ:NWL - Free Report) by 5.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 13,832,510 shares of the company's stock after selling 805,507 shares during the quarter. State Street Corp owned approximately 3.33% of Newell Brands worth $106,234,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Rothschild Investment LLC acquired a new stake in Newell Brands during the second quarter worth approximately $26,000. Gradient Investments LLC acquired a new position in shares of Newell Brands during the 2nd quarter valued at $46,000. Quarry LP boosted its stake in Newell Brands by 104.4% during the second quarter. Quarry LP now owns 7,941 shares of the company's stock worth $51,000 after acquiring an additional 4,056 shares in the last quarter. Innealta Capital LLC acquired a new stake in Newell Brands in the second quarter worth $58,000. Finally, Venturi Wealth Management LLC bought a new stake in Newell Brands in the third quarter valued at $70,000. Institutional investors own 92.50% of the company's stock.

Analyst Upgrades and Downgrades

NWL has been the topic of a number of research analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Newell Brands from $9.00 to $8.00 and set a "neutral" rating on the stock in a research report on Friday, October 11th. Barclays upgraded Newell Brands from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $8.00 to $10.00 in a report on Wednesday, November 20th. Canaccord Genuity Group lifted their price target on shares of Newell Brands from $13.00 to $15.00 and gave the company a "buy" rating in a research report on Friday, December 6th. 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 report on Monday, October 28th. Finally, Truist Financial upgraded shares of Newell Brands from a "hold" rating to a "buy" rating and lifted their price objective for the company from $10.00 to $17.00 in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $10.00.

Newell Brands Stock Performance

NASDAQ:NWL traded down $0.17 during trading on Monday, reaching $10.84. The company's stock had a trading volume of 4,126,748 shares, compared to its average volume of 5,550,174. The firm has a market cap of $4.51 billion, a price-to-earnings ratio of -18.07, a price-to-earnings-growth ratio of 1.06 and a beta of 0.90. Newell Brands Inc. has a 12 month low of $5.39 and a 12 month high of $11.78. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.50 and a current ratio of 0.99. The firm has a 50 day moving average of $9.03 and a 200-day moving average of $7.80.

Newell Brands (NASDAQ:NWL - Get Free Report) last posted its quarterly earnings data on Friday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.16. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.96 billion. Newell Brands had a negative net margin of 3.22% and a positive return on equity of 10.22%. The firm's quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.39 earnings per share. Research analysts expect that Newell Brands Inc. will post 0.66 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend was Friday, November 29th. Newell Brands's dividend payout ratio (DPR) is -46.67%.

Insiders Place Their Bets

In other Newell Brands news, insider Bradford R. Turner sold 20,000 shares of the business'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 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Tracy L. Platt sold 23,343 shares of the firm's stock in a transaction on 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. Company insiders own 0.58% of the company's stock.

About Newell Brands

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.