Synovus Financial Corp Takes $1.48 Million Position in Newell Brands Inc. (NASDAQ:NWL)

Synovus Financial Corp acquired a new stake in Newell Brands Inc. (NASDAQ:NWL - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 148,322 shares of the company's stock, valued at approximately $1,477,000.

Several other institutional investors have also modified their holdings of NWL. FMR LLC increased its position in Newell Brands by 233.6% during the 4th quarter. FMR LLC now owns 14,527,609 shares of the company's stock worth $144,695,000 after purchasing an additional 10,172,696 shares during the period. Hennessy Advisors Inc. purchased a new stake in shares of Newell Brands during the 4th quarter worth $72,431,000. Norges Bank acquired a new position in shares of Newell Brands during the 4th quarter worth $37,174,000. FIL Ltd increased its holdings in shares of Newell Brands by 109.2% in the 4th quarter. FIL Ltd now owns 5,720,884 shares of the company's stock valued at $56,980,000 after purchasing an additional 2,986,426 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Newell Brands by 214.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,349,136 shares of the company's stock worth $33,357,000 after buying an additional 2,282,949 shares in the last quarter. 92.50% of the stock is owned by hedge funds and other institutional investors.

Newell Brands Price Performance

NASDAQ:NWL traded up $0.07 during midday trading on Friday, hitting $4.70. 6,670,824 shares of the stock were exchanged, compared to its average volume of 6,692,593. The business has a 50-day moving average price of $6.11 and a two-hundred day moving average price of $8.22. The company has a current ratio of 1.14, a quick ratio of 0.56 and a debt-to-equity ratio of 1.64. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of -9.04, a P/E/G ratio of 0.95 and a beta of 0.84. Newell Brands Inc. has a one year low of $4.22 and a one year high of $11.78.

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 analysts' consensus estimates 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 prior year, the company posted $0.22 EPS. Sell-side analysts predict that Newell Brands Inc. will post 0.72 EPS for the current year.

Newell Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 5.96%. The ex-dividend date was Friday, February 28th. Newell Brands's payout ratio is presently -53.85%.

Analysts Set New Price Targets

A number of analysts recently commented 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 on the stock in a research note on Monday, February 10th. JPMorgan Chase & Co. reduced their price objective on shares of Newell Brands from $8.00 to $6.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Citigroup lowered their target price on shares of Newell Brands from $7.75 to $4.75 and set a "neutral" rating for the company in a research note on Monday, April 14th. Barclays increased their price objective on shares of Newell Brands from $10.00 to $11.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Finally, UBS Group lowered their target price on shares of Newell Brands from $8.00 to $5.50 and set a "neutral" rating for the company in a report on Thursday. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $9.14.

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.