Clarius Group LLC Acquires New Shares in Newell Brands Inc. (NASDAQ:NWL)

Posted by on Apr 8th, 2023

Clarius Group LLC acquired a new stake in Newell Brands Inc. (NASDAQ:NWL – Get Rating) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 10,730 shares of the company’s stock, valued at approximately $140,000.

Several other hedge funds have also recently bought and sold shares of NWL. Fairfield Bush & CO. purchased a new position in Newell Brands during the first quarter worth $26,000. Private Trust Co. NA purchased a new position in Newell Brands during the second quarter worth $33,000. Wipfli Financial Advisors LLC purchased a new position in Newell Brands during the third quarter worth $34,000. Ellevest Inc. increased its position in Newell Brands by 40.4% during the third quarter. Ellevest Inc. now owns 4,836 shares of the company’s stock worth $67,000 after buying an additional 1,392 shares in the last quarter. Finally, Eagle Bay Advisors LLC increased its position in Newell Brands by 190.4% during the second quarter. Eagle Bay Advisors LLC now owns 3,714 shares of the company’s stock worth $71,000 after buying an additional 2,435 shares in the last quarter. 92.31% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Newell Brands

In other Newell Brands 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 value of $1,650,307.64. Following the transaction, the director now directly owns 845,631 shares of the company’s stock, valued at $12,997,348.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Newell Brands 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 value of $1,650,307.64. Following the transaction, the director now directly owns 845,631 shares of the company’s stock, valued at $12,997,348.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark J. Erceg acquired 28,282 shares of the business’s stock in a transaction on Thursday, March 9th. The stock was bought at an average cost of $13.00 per share, for a total transaction 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. 0.58% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NWL. Morgan Stanley dropped their price target on Newell Brands from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Monday, February 13th. Royal Bank of Canada decreased their price objective on Newell Brands from $17.00 to $15.00 and set a “sector perform” rating on the stock in a report on Monday, February 13th. Wells Fargo & Company raised their price objective on Newell Brands from $13.00 to $15.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 24th. Barclays decreased their price objective on Newell Brands from $13.00 to $11.00 and set an “underweight” rating on the stock in a report on Tuesday, February 14th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Newell Brands from $16.00 to $14.00 in a report on Monday, March 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Newell Brands presently has an average rating of “Hold” and an average price target of $17.27.

Newell Brands Price Performance

Shares of Newell Brands stock opened at $12.14 on Friday. Newell Brands Inc. has a twelve month low of $11.25 and a twelve month high of $24.70. The stock has a market capitalization of $5.02 billion, a P/E ratio of 23.80 and a beta of 0.91. The company has a current ratio of 1.32, a quick ratio of 0.60 and a debt-to-equity ratio of 1.35. The business’s fifty day moving average price is $13.59 and its 200 day moving average price is $13.92.

Newell Brands (NASDAQ:NWL – Get Rating) last issued its earnings results on Friday, February 10th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. Newell Brands had a return on equity of 17.76% and a net margin of 2.33%. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter last year, the firm earned $0.42 earnings per share. The firm’s revenue for the quarter was down 18.5% compared to the same quarter last year. As a group, research analysts anticipate that Newell Brands Inc. will post 1.04 earnings per share for the current year.

Newell Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 7.58%. The ex-dividend date was Monday, February 27th. Newell Brands’s payout ratio is currently 180.40%.

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.

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

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