Vanguard Group Inc. raised its stake in Newell Brands Inc. (NASDAQ:NWL - Free Report) by 4.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,892,882 shares of the company's stock after acquiring an additional 1,974,823 shares during the period. Vanguard Group Inc. owned about 11.27% of Newell Brands worth $467,053,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Hennessy Advisors Inc. acquired a new position in shares of Newell Brands in the 4th quarter worth approximately $72,431,000. Victory Capital Management Inc. boosted its stake in Newell Brands by 43.7% in the fourth quarter. Victory Capital Management Inc. now owns 6,790,865 shares of the company's stock worth $67,637,000 after purchasing an additional 2,066,599 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Newell Brands by 1.8% during the third quarter. Geode Capital Management LLC now owns 6,635,283 shares of the company's stock worth $50,973,000 after purchasing an additional 115,459 shares during the last quarter. FMR LLC increased its stake in shares of Newell Brands by 21.5% in the third quarter. FMR LLC now owns 4,354,913 shares of the company's stock valued at $33,446,000 after buying an additional 770,717 shares in the last quarter. Finally, King Luther Capital Management Corp raised its holdings in shares of Newell Brands by 2.7% in the fourth quarter. King Luther Capital Management Corp now owns 4,291,213 shares of the company's stock valued at $42,740,000 after buying an additional 111,614 shares during the last quarter. 92.50% of the stock is currently owned by institutional investors and hedge funds.
Newell Brands Trading Down 6.4 %
NASDAQ:NWL traded down $0.35 on Friday, reaching $5.12. The company's stock had a trading volume of 13,389,245 shares, compared to its average volume of 6,394,484. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.56 and a current ratio of 1.14. The business's 50-day moving average price is $7.21 and its two-hundred day moving average price is $8.46. Newell Brands Inc. has a 1-year low of $4.83 and a 1-year high of $11.78. The firm has a market cap of $2.14 billion, a PE ratio of -9.85, a PEG ratio of 0.95 and a beta of 0.84.
Newell Brands (NASDAQ:NWL - Get Free Report) last issued its quarterly earnings data on Friday, February 7th. The company reported $0.16 earnings per share (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 quarter in the prior year, the business earned $0.22 earnings per share. Equities research analysts anticipate that Newell Brands Inc. will post 0.72 earnings per share for the current fiscal year.
Newell Brands Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 5.47%. The ex-dividend date of this dividend was Friday, February 28th. Newell Brands's dividend payout ratio is presently -53.85%.
Analyst Upgrades and Downgrades
Several analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Newell Brands from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Thursday, January 16th. Royal Bank of Canada reduced their target price on shares of 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. Truist Financial raised shares of Newell Brands from a "hold" rating to a "buy" rating and boosted their price target for the stock from $10.00 to $17.00 in a research note on Monday, December 9th. Canaccord Genuity Group reduced their price objective on shares of Newell Brands from $15.00 to $14.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. Finally, Wells Fargo & Company dropped their target price on shares of Newell Brands from $9.00 to $7.00 and set an "equal weight" rating for the company in a research report on Wednesday. Six 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 has an average rating of "Hold" and a consensus price target of $10.58.
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About Newell Brands
(
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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