Wealthfront Advisers LLC acquired a new stake in Newell Brands Inc. (NASDAQ:NWL - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 420,379 shares of the company's stock, valued at approximately $4,187,000. Wealthfront Advisers LLC owned about 0.10% of Newell Brands as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Venturi Wealth Management LLC bought a new position in Newell Brands in the 3rd quarter valued at about $70,000. Claro Advisors LLC bought a new position in shares of Newell Brands during the third quarter worth approximately $79,000. Smartleaf Asset Management LLC lifted its holdings in Newell Brands by 140.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 7,912 shares of the company's stock worth $79,000 after purchasing an additional 4,617 shares during the last quarter. Versant Capital Management Inc boosted its stake in Newell Brands by 24.8% in the 4th quarter. Versant Capital Management Inc now owns 8,376 shares of the company's stock valued at $83,000 after purchasing an additional 1,666 shares during the period. Finally, Glenmede Trust Co. NA acquired a new position in Newell Brands in the 3rd quarter valued at $92,000. 92.50% of the stock is owned by institutional investors and hedge funds.
Newell Brands Stock Down 1.1 %
NWL stock opened at $6.51 on Friday. The firm has a 50-day moving average price of $8.41 and a 200-day moving average price of $8.55. Newell Brands Inc. has a 12 month low of $5.39 and a 12 month high of $11.78. 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 stock has a market capitalization of $2.71 billion, a P/E ratio of -12.52, a price-to-earnings-growth ratio of 0.95 and a beta of 0.88.
Newell Brands (NASDAQ:NWL - Get Free Report) last released its quarterly earnings data on Friday, February 7th. The company reported $0.16 earnings per share (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 quarter in the previous year, the business posted $0.22 earnings per share. As a group, equities research analysts anticipate that Newell Brands Inc. will post 0.72 EPS for the current fiscal year.
Newell Brands Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 4.30%. The ex-dividend date is Friday, February 28th. Newell Brands's dividend payout ratio (DPR) is -53.85%.
Analyst Ratings Changes
A number of equities analysts have commented on the company. Barclays raised their price objective on Newell Brands from $10.00 to $11.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. Truist Financial upgraded Newell Brands from a "hold" rating to a "buy" rating and raised their price target for the stock from $10.00 to $17.00 in a research report on Monday, December 9th. Wells Fargo & Company cut their price objective on shares of Newell Brands from $11.00 to $9.00 and set an "equal weight" rating for the company in a research report on Monday, February 10th. Canaccord Genuity Group decreased their target price on shares of Newell Brands from $15.00 to $14.00 and set a "buy" rating on the stock in a report on Monday, February 10th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Newell Brands from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Newell Brands presently has a consensus rating of "Hold" and a consensus target price of $10.81.
Get Our Latest Report on NWL
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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