Parallel Advisors LLC increased its stake 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 Form 13F filing with the Securities & Exchange Commission. The firm owned 7,231 shares of the company’s stock after purchasing an additional 2,171 shares during the period. Parallel Advisors LLC’s holdings in Newell Brands were worth $95,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Mariner LLC grew its stake in Newell Brands by 3.3% in the first quarter. Mariner LLC now owns 16,544 shares of the company’s stock valued at $355,000 after acquiring an additional 532 shares during the period. Private Advisor Group LLC grew its stake in Newell Brands by 5.0% in the first quarter. Private Advisor Group LLC now owns 12,567 shares of the company’s stock valued at $269,000 after acquiring an additional 593 shares during the period. Kinneret Advisory LLC grew its stake in Newell Brands by 2.3% in the first quarter. Kinneret Advisory LLC now owns 33,080 shares of the company’s stock valued at $708,000 after acquiring an additional 739 shares during the period. Yousif Capital Management LLC grew its stake in Newell Brands by 1.3% in the first quarter. Yousif Capital Management LLC now owns 58,920 shares of the company’s stock valued at $1,261,000 after acquiring an additional 745 shares during the period. Finally, Securian Asset Management Inc. grew its stake in Newell Brands by 2.6% in the third quarter. Securian Asset Management Inc. now owns 31,271 shares of the company’s stock valued at $434,000 after acquiring an additional 803 shares during the period. 92.31% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
NWL has been the subject of a number of research analyst reports. Wells Fargo & Company boosted their target price on Newell Brands from $13.00 to $15.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 24th. JPMorgan Chase & Co. increased their price objective on Newell Brands from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Friday, January 13th. Royal Bank of Canada decreased their price objective on Newell Brands from $17.00 to $15.00 and set a “sector perform” rating for the company in a report on Monday, February 13th. Deutsche Bank Aktiengesellschaft decreased their price objective on Newell Brands from $14.00 to $13.00 in a report on Monday. Finally, Barclays decreased their price objective on Newell Brands from $13.00 to $11.00 and set an “underweight” rating for the company in a report on Tuesday, February 14th. 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 Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Tuesday, February 28th were given a $0.23 dividend. The ex-dividend date was Monday, February 27th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 8.88%. Newell Brands’s payout ratio is -317.24%.
Insider Activity
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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