Sumitomo Mitsui Trust Holdings Inc. lessened its stake in Newell Brands Inc. (NASDAQ:NWL – Get Rating) by 3.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,104,125 shares of the company’s stock after selling 37,280 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Newell Brands were worth $14,442,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the business. Mariner LLC grew its position in Newell Brands by 3.3% in the first quarter. Mariner LLC now owns 16,544 shares of the company’s stock worth $355,000 after acquiring an additional 532 shares during the period. Private Advisor Group LLC grew its position in Newell Brands by 5.0% in the first quarter. Private Advisor Group LLC now owns 12,567 shares of the company’s stock worth $269,000 after acquiring an additional 593 shares during the period. Kinneret Advisory LLC grew its position in Newell Brands by 2.3% in the first quarter. Kinneret Advisory LLC now owns 33,080 shares of the company’s stock worth $708,000 after acquiring an additional 739 shares during the period. Yousif Capital Management LLC grew its position in Newell Brands by 1.3% in the first quarter. Yousif Capital Management LLC now owns 58,920 shares of the company’s stock worth $1,261,000 after acquiring an additional 745 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Newell Brands by 2.5% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,349 shares of the company’s stock worth $435,000 after acquiring an additional 767 shares during the period. 92.31% of the stock is currently owned by hedge funds and other institutional investors.
Newell Brands Trading Down 0.6 %
NASDAQ:NWL opened at $12.57 on Wednesday. The firm has a market cap of $5.21 billion, a PE ratio of 24.65 and a beta of 0.92. The stock has a fifty day moving average price of $12.03 and a 200 day moving average price of $13.85. Newell Brands Inc. has a 12-month low of $11.25 and a 12-month high of $24.70. The company has a current ratio of 1.32, a quick ratio of 0.60 and a debt-to-equity ratio of 1.35.
Newell Brands Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Tuesday, February 28th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 7.32%. The ex-dividend date was Monday, February 27th. Newell Brands’s dividend payout ratio is presently 180.40%.
Insider Buying and Selling at Newell Brands
In other Newell Brands news, CFO Mark J. Erceg purchased 28,282 shares of the business’s stock in a transaction on Thursday, March 9th. The shares were bought at an average cost of $13.00 per share, for a total transaction of $367,666.00. Following the completion of the purchase, the chief financial officer now directly owns 94,982 shares in the company, valued at $1,234,766. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Brett Icahn sold 107,372 shares of Newell Brands 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 sale, the director now owns 845,631 shares in the company, valued at $12,997,348.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark J. Erceg bought 28,282 shares of the business’s stock in a transaction dated Thursday, March 9th. The shares were purchased at an average price of $13.00 per share, for a total transaction of $367,666.00. Following the transaction, the chief financial officer now directly owns 94,982 shares of the company’s stock, valued at approximately $1,234,766. The disclosure for this purchase can be found here. 1.10% of the stock is owned by insiders.
Analyst Ratings Changes
NWL has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft lowered their price objective on Newell Brands from $16.00 to $14.00 in a research report on Monday, March 20th. Citigroup began coverage on Newell Brands in a research report on Thursday, February 16th. They set a “neutral” rating and a $15.00 price target for the company. Barclays lowered their price target on Newell Brands from $13.00 to $11.00 and set an “underweight” rating for the company in a research report on Tuesday, February 14th. Morgan Stanley lowered 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. Finally, Wells Fargo & Company raised their price target on Newell Brands from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 24th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $17.27.
About Newell Brands
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.
Read More
- Get a free copy of the StockNews.com research report on Newell Brands (NWL)
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