Shell Asset Management Co. Sells 7,055 Shares of Newell Brands Inc. (NASDAQ:NWL)

Posted by Defense World Staff on May 8th, 2023

Shell Asset Management Co. lowered its stake in shares of Newell Brands Inc. (NASDAQ:NWL – Get Rating) by 21.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,493 shares of the company’s stock after selling 7,055 shares during the period. Shell Asset Management Co.’s holdings in Newell Brands were worth $333,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Mariner LLC lifted its position in shares of Newell Brands by 3.3% during the first quarter. Mariner LLC now owns 16,544 shares of the company’s stock worth $355,000 after acquiring an additional 532 shares in the last quarter. Private Advisor Group LLC increased its position in shares of Newell Brands by 5.0% during the first quarter. Private Advisor Group LLC now owns 12,567 shares of the company’s stock valued at $269,000 after buying an additional 593 shares during the period. Kinneret Advisory LLC increased its position in shares of Newell Brands by 2.3% during the first quarter. Kinneret Advisory LLC now owns 33,080 shares of the company’s stock valued at $708,000 after buying an additional 739 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Newell Brands by 2.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 26,664 shares of the company’s stock valued at $349,000 after buying an additional 740 shares during the period. Finally, Yousif Capital Management LLC increased its position in shares of Newell Brands by 1.3% during the first quarter. Yousif Capital Management LLC now owns 58,920 shares of the company’s stock valued at $1,261,000 after buying an additional 745 shares during the period. Hedge funds and other institutional investors own 92.31% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on NWL shares. 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. StockNews.com initiated coverage on Newell Brands in a research note on Thursday, March 16th. They issued a “sell” rating on the stock. Citigroup initiated coverage on Newell Brands in a research note on Thursday, February 16th. They issued a “neutral” rating and a $15.00 target price on the stock. Barclays cut their target price on Newell Brands from $13.00 to $11.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 14th. Finally, Royal Bank of Canada cut their target price on Newell Brands from $17.00 to $15.00 and set a “sector perform” rating on the stock in a research note on Monday, February 13th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $17.18.

Insider Buying and Selling at Newell Brands

In other news, Director Brett Icahn sold 107,372 shares of the stock in a transaction that occurred on Thursday, February 16th. The shares were 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 filing with the SEC, which is available at this link. In other Newell Brands news, CFO Mark J. Erceg acquired 9,515 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were bought at an average price of $9.99 per share, with a total value of $95,054.85. Following the completion of the acquisition, the chief financial officer now owns 153,140 shares in the company, valued at approximately $1,529,868.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brett Icahn sold 107,372 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 845,631 shares in the company, valued at $12,997,348.47. The disclosure for this sale can be found here. 0.58% of the stock is owned by company insiders.

Newell Brands Price Performance

NWL stock opened at $10.11 on Monday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.55 and a current ratio of 1.23. The firm has a 50 day moving average price of $11.94 and a 200-day moving average price of $13.52. Newell Brands Inc. has a 52-week low of $9.75 and a 52-week high of $24.70. The firm has a market capitalization of $4.19 billion, a price-to-earnings ratio of -34.86 and a beta of 0.92.

Newell Brands (NASDAQ:NWL – Get Rating) last announced its quarterly earnings data on Friday, April 28th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). Newell Brands had a negative net margin of 1.31% and a positive return on equity of 13.59%. The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter in the previous year, the firm posted $0.36 EPS. The firm’s quarterly revenue was down 24.4% compared to the same quarter last year. Equities research analysts forecast that Newell Brands Inc. will post 0.98 EPS for the current fiscal year.

About Newell Brands

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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.