Parallel Advisors LLC lifted its position in shares of Newell Brands Inc. (NASDAQ:NWL – Get Rating) by 42.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,231 shares of the company’s stock after acquiring an additional 2,171 shares during the quarter. Parallel Advisors LLC’s holdings in Newell Brands were worth $95,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Martin & Co. Inc. TN grew its stake in shares of Newell Brands by 0.6% during the fourth quarter. Martin & Co. Inc. TN now owns 256,589 shares of the company’s stock worth $3,356,000 after purchasing an additional 1,638 shares during the period. Pzena Investment Management LLC grew its stake in shares of Newell Brands by 21.6% during the fourth quarter. Pzena Investment Management LLC now owns 47,361,679 shares of the company’s stock worth $619,491,000 after purchasing an additional 8,407,044 shares during the period. CX Institutional grew its stake in shares of Newell Brands by 42.7% during the fourth quarter. CX Institutional now owns 173,892 shares of the company’s stock worth $2,275,000 after purchasing an additional 52,028 shares during the period. ARGI Investment Services LLC grew its stake in Newell Brands by 37.1% in the fourth quarter. ARGI Investment Services LLC now owns 445,061 shares of the company’s stock valued at $5,821,000 after acquiring an additional 120,542 shares during the period. Finally, Investors Asset Management of Georgia Inc. GA ADV grew its stake in Newell Brands by 2.2% in the fourth quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 45,520 shares of the company’s stock valued at $595,000 after acquiring an additional 968 shares during the period. Institutional investors own 92.31% of the company’s stock.
Wall Street Analysts Forecast Growth
NWL has been the subject of a number of research analyst reports. Raymond James decreased their target price on Newell Brands from $18.00 to $17.00 and set a “strong-buy” rating for the company in a research note on Monday, February 13th. Royal Bank of Canada decreased their target price on Newell Brands from $17.00 to $15.00 and set a “sector perform” rating for the company in a research note on Monday, February 13th. JPMorgan Chase & Co. boosted their target price on Newell Brands from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Friday, January 13th. Barclays decreased their target price on Newell Brands from $13.00 to $11.00 and set an “underweight” rating for the company in a research note on Tuesday, February 14th. Finally, StockNews.com initiated coverage on Newell Brands in a research note on Thursday, March 16th. They issued a “sell” rating for the company. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $17.18.
Newell Brands Stock Performance
Newell Brands (NASDAQ:NWL – Get Rating) last issued its quarterly earnings results on Friday, April 28th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Newell Brands had a net margin of 2.33% and a return on equity of 17.76%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same period last year, the company posted $0.36 earnings per share. The business’s revenue for the quarter was down 24.4% on a year-over-year basis. Analysts predict that Newell Brands Inc. will post 1.03 earnings per share for the current fiscal year.
Newell Brands Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Monday, February 27th. This represents a $0.92 annualized dividend and a yield of 8.88%. Newell Brands’s dividend payout ratio (DPR) is presently -317.24%.
Insider Activity at Newell Brands
In other news, Director Brett Icahn sold 107,372 shares of the firm’s stock in a transaction that occurred on 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 sale, 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 legal filing with the SEC, which is accessible through this link. In other news, Director Brett Icahn sold 107,372 shares of the firm’s stock in a transaction that occurred on 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 sale, 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 legal filing with the SEC, which is accessible through this link. Also, CFO Mark J. Erceg acquired 28,282 shares of the business’s stock in a transaction dated Thursday, March 9th. The stock was acquired at an average cost of $13.00 per share, with a total value of $367,666.00. Following the completion of the transaction, the chief financial officer now owns 94,982 shares of the company’s stock, valued at $1,234,766. The disclosure for this purchase can be found here. Insiders own 0.58% of the company’s stock.
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.
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