Trexquant Investment LP Sells 38,620 Shares of Newell Brands Inc. (NASDAQ:NWL)

Posted by Defense World Staff on Mar 14th, 2023

Trexquant Investment LP decreased its stake in Newell Brands Inc. (NASDAQ:NWL – Get Rating) by 32.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 80,319 shares of the company’s stock after selling 38,620 shares during the period. Trexquant Investment LP’s holdings in Newell Brands were worth $1,116,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of NWL. Fairfield Bush & CO. acquired a new stake in Newell Brands during the first quarter worth $26,000. Private Trust Co. NA bought a new position in shares of Newell Brands in the second quarter valued at about $33,000. Wipfli Financial Advisors LLC bought a new position in shares of Newell Brands in the third quarter valued at about $34,000. CoreCap Advisors LLC bought a new position in shares of Newell Brands in the second quarter valued at about $38,000. Finally, SeaCrest Wealth Management LLC bought a new position in shares of Newell Brands in the second quarter valued at about $67,000. Institutional investors and hedge funds own 92.31% of the company’s stock.

Insider Buying and Selling at Newell Brands

In other Newell Brands news, Director Brett Icahn sold 107,372 shares of the stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $15.37, for a total value of $1,650,307.64. Following the completion of the transaction, the director now directly owns 845,631 shares in the company, valued at $12,997,348.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Brett Icahn sold 107,372 shares of the firm’s stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $15.37, for a total transaction of $1,650,307.64. Following the completion of the transaction, the director now directly owns 845,631 shares in the company, valued at $12,997,348.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark J. Erceg acquired 28,282 shares of the stock in a transaction dated Thursday, March 9th. The shares were bought at an average price of $13.00 per share, with a total value of $367,666.00. Following the completion of the transaction, the chief financial officer now directly owns 94,982 shares of the company’s stock, valued at $1,234,766. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company’s stock.

Newell Brands Stock Performance

NASDAQ:NWL opened at $11.82 on Tuesday. The stock’s 50-day simple moving average is $14.78 and its 200 day simple moving average is $14.26. The firm has a market capitalization of $4.89 billion, a PE ratio of 23.18 and a beta of 0.94. The company has a quick ratio of 0.60, a current ratio of 1.32 and a debt-to-equity ratio of 1.35. Newell Brands Inc. has a twelve month low of $11.78 and a twelve month high of $24.70.

Newell Brands (NASDAQ:NWL – Get Rating) last released its quarterly earnings data on Friday, February 10th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.05. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.23 billion. Newell Brands had a return on equity of 17.76% and a net margin of 2.33%. Newell Brands’s revenue was down 18.5% compared to the same quarter last year. During the same period last year, the firm posted $0.42 earnings per share. On average, analysts anticipate that Newell Brands Inc. will post 1.04 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Tuesday, February 28th will be given a $0.23 dividend. The ex-dividend date is Monday, February 27th. This represents a $0.92 annualized dividend and a yield of 7.78%. Newell Brands’s dividend payout ratio is presently 180.40%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their target price on Newell Brands from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, January 13th. Raymond James reduced their price target on Newell Brands from $18.00 to $17.00 and set a “strong-buy” rating for the company in a research report on Monday, February 13th. Morgan Stanley dropped their price objective on Newell Brands from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Monday, February 13th. Wells Fargo & Company upped their price objective on Newell Brands from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 24th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Newell Brands from $15.00 to $17.00 in a research note on Monday, January 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $17.55.

Newell Brands Company Profile

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Newell Brands, Inc engages in the manufacture, marketing, and sale of consumer and commercial products. It operates through the following segments: Commercial Solutions, Home Appliances, Home Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment includes commercial cleaning and maintenance solutions, closet and garage organization, hygiene systems and material handling solutions, connected home and security, and smoke and carbon monoxide alarms.