Victory Capital Management Inc. Buys 4,637,180 Shares of Newell Brands Inc. (NASDAQ:NWL)

Victory Capital Management Inc. increased its holdings in Newell Brands Inc. (NASDAQ:NWL - Free Report) by 5,324.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,724,266 shares of the company's stock after buying an additional 4,637,180 shares during the quarter. Victory Capital Management Inc. owned 1.14% of Newell Brands worth $36,282,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Rothschild Investment LLC bought a new position in shares of Newell Brands in the second quarter worth about $26,000. Gradient Investments LLC bought a new stake in Newell Brands during the 2nd quarter worth approximately $46,000. Quarry LP lifted its holdings 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 purchasing an additional 4,056 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Newell Brands in the second quarter worth approximately $58,000. Finally, Venturi Wealth Management LLC purchased a new stake in shares of Newell Brands in the third quarter worth $70,000. 92.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NWL. Wells Fargo & Company raised their target price on shares of Newell Brands from $8.00 to $9.00 and gave the company an "equal weight" rating in a report on Monday, October 28th. Truist Financial lifted their target price on Newell Brands from $8.00 to $10.00 and gave the company a "hold" rating in a research report on Tuesday, July 30th. Royal Bank of Canada boosted their price objective on shares of Newell Brands from $7.50 to $9.50 and gave the stock a "sector perform" rating in a research note on Monday, July 29th. JPMorgan Chase & Co. reduced their target price 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. Finally, Citigroup lowered Newell Brands from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $8.90.

Insider Activity at Newell Brands

In other news, insider Bradford R. Turner sold 20,000 shares of Newell Brands stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $8.96, for a total value 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. The trade was a 7.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.58% of the stock is owned by corporate insiders.

Newell Brands Stock Performance

NWL stock traded down $0.16 during mid-day trading on Friday, reaching $8.80. The company had a trading volume of 4,040,146 shares, compared to its average volume of 6,714,456. 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 stock's 50-day simple moving average is $7.94 and its two-hundred day simple moving average is $7.50. The stock has a market capitalization of $3.66 billion, a P/E ratio of -14.67, a P/E/G ratio of 0.82 and a beta of 0.89. Newell Brands Inc. has a one year low of $5.39 and a one year high of $9.68.

Newell Brands (NASDAQ:NWL - Get Free Report) last issued its earnings results on Friday, October 25th. The company reported $0.16 earnings per share for the quarter, hitting analysts' consensus estimates of $0.16. Newell Brands had a negative net margin of 3.22% and a positive return on equity of 10.22%. The firm had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.96 billion. During the same period last year, the firm posted $0.39 earnings per share. The firm's revenue for the quarter was down 2.6% compared to the same quarter last year. Research analysts anticipate that Newell Brands Inc. will post 0.65 EPS for the current year.

Newell Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Friday, November 29th. Newell Brands's payout ratio is -46.67%.

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.