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Wedmont Private Capital Invests $565,000 in Newell Brands Inc. (NASDAQ:NWL)

Newell Brands logo with Consumer Staples background

Wedmont Private Capital purchased a new stake in Newell Brands Inc. (NASDAQ:NWL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 57,862 shares of the company's stock, valued at approximately $565,000.

A number of other hedge funds have also modified their holdings of NWL. Victory Capital Management Inc. lifted its stake in Newell Brands by 5,324.8% during the 3rd quarter. Victory Capital Management Inc. now owns 4,724,266 shares of the company's stock worth $36,282,000 after acquiring an additional 4,637,180 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Newell Brands by 29.2% during the second quarter. Dimensional Fund Advisors LP now owns 11,818,316 shares of the company's stock worth $75,753,000 after buying an additional 2,668,384 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Newell Brands by 18.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 16,618,316 shares of the company's stock worth $127,629,000 after buying an additional 2,634,114 shares during the period. Primecap Management Co. CA raised its holdings in Newell Brands by 17.7% in the second quarter. Primecap Management Co. CA now owns 14,049,064 shares of the company's stock valued at $90,054,000 after acquiring an additional 2,109,892 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in Newell Brands by 106.7% in the second quarter. AQR Capital Management LLC now owns 2,546,418 shares of the company's stock worth $16,042,000 after acquiring an additional 1,314,514 shares during the last quarter. 92.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NWL has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Newell Brands from $9.00 to $8.00 and set a "neutral" rating on the stock in a report on Friday, October 11th. Truist Financial raised Newell Brands from a "hold" rating to a "buy" rating and lifted their price target for the stock from $10.00 to $17.00 in a report on Monday, December 9th. Canaccord Genuity Group increased their price objective on Newell Brands from $13.00 to $15.00 and gave the company a "buy" rating in a report on Friday, December 6th. Barclays upgraded Newell Brands from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $8.00 to $10.00 in a research note on Wednesday, November 20th. Finally, Wells Fargo & Company upped their price objective on shares of Newell Brands from $9.00 to $11.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Newell Brands has a consensus rating of "Hold" and an average target price of $10.20.

Check Out Our Latest Stock Report on Newell Brands

Insider Buying and Selling

In related news, insider Bradford R. Turner sold 20,000 shares of the company's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $8.96, for a total value of $179,200.00. Following the sale, the insider now owns 230,254 shares of the company's stock, valued at approximately $2,063,075.84. This represents a 7.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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. 0.58% of the stock is currently owned by corporate insiders.

Newell Brands Stock Performance

NWL stock traded up $0.11 during trading on Wednesday, hitting $9.98. The company had a trading volume of 5,451,817 shares, compared to its average volume of 5,068,191. Newell Brands Inc. has a 1-year low of $5.39 and a 1-year high of $11.78. The firm has a 50-day moving average price of $9.86 and a 200-day moving average price of $8.25. 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 firm has a market cap of $4.15 billion, a PE ratio of -16.63, a price-to-earnings-growth ratio of 1.02 and a beta of 0.89.

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

Newell Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a dividend of $0.07 per share. The ex-dividend date was Friday, November 29th. This represents a $0.28 annualized dividend and a yield of 2.81%. Newell Brands's dividend payout ratio is currently -46.67%.

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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Institutional Ownership by Quarter for Newell Brands (NASDAQ:NWL)

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