abrdn plc reduced its stake in Newell Brands Inc. (NASDAQ:NWL – Get Rating) by 40.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 98,604 shares of the company’s stock after selling 67,094 shares during the quarter. abrdn plc’s holdings in Newell Brands were worth $1,290,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NWL. Fairfield Bush & CO. bought a new stake in shares of Newell Brands during the first quarter valued at approximately $26,000. RFP Financial Group LLC bought a new position in shares of Newell Brands in the 4th quarter valued at about $73,000. Canada Pension Plan Investment Board boosted its stake in shares of Newell Brands by 711.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 4,107 shares of the company’s stock valued at $88,000 after purchasing an additional 3,601 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Newell Brands by 42.9% in the 4th quarter. Parallel Advisors LLC now owns 7,231 shares of the company’s stock valued at $95,000 after purchasing an additional 2,171 shares during the last quarter. Finally, Guardian Wealth Advisors LLC bought a new position in Newell Brands during the 3rd quarter worth approximately $98,000. 92.31% of the stock is currently owned by institutional investors and hedge funds.
Newell Brands Stock Performance
Shares of NWL opened at $8.71 on Thursday. The company has a market cap of $3.61 billion, a PE ratio of -30.03 and a beta of 0.92. The company has a current ratio of 1.23, a quick ratio of 0.55 and a debt-to-equity ratio of 1.43. Newell Brands Inc. has a 12-month low of $8.52 and a 12-month high of $21.88. The stock has a 50-day moving average price of $11.27 and a 200-day moving average price of $12.95.
Newell Brands Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Wednesday, May 31st will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Tuesday, May 30th. Newell Brands’s dividend payout ratio (DPR) is presently -317.23%.
Analyst Upgrades and Downgrades
Several analysts have commented on NWL shares. Barclays dropped their target price on shares of Newell Brands from $13.00 to $11.00 and set an “underweight” rating on the stock in a report on Tuesday, February 14th. Morgan Stanley reduced their price objective on shares of 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. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Newell Brands from $14.00 to $13.00 in a research report on Monday, May 1st. StockNews.com initiated coverage on Newell Brands in a research note on Thursday, March 16th. They issued a “sell” rating for the company. Finally, Citigroup assumed coverage on Newell Brands in a research note on Thursday, February 16th. They issued a “neutral” rating and a $15.00 price target for the company. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $17.18.
Insider Buying and Selling at Newell Brands
In related news, CFO Mark J. Erceg acquired 28,282 shares of the firm’s stock in a transaction dated Thursday, March 9th. The shares were purchased at an average price of $13.00 per share, with a total value of $367,666.00. Following the completion of the purchase, the chief financial officer now directly owns 94,982 shares of the company’s stock, valued at $1,234,766. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Mark J. Erceg bought 28,282 shares of the company’s stock in a transaction dated Thursday, March 9th. The stock was purchased at an average price of $13.00 per share, for a total transaction of $367,666.00. Following the acquisition, the chief financial officer now owns 94,982 shares in the company, valued at $1,234,766. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mark J. Erceg purchased 9,515 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were acquired at an average cost of $9.99 per share, with a total value of $95,054.85. Following the completion of the purchase, the chief financial officer now directly owns 153,140 shares in the company, valued at approximately $1,529,868.60. The disclosure for this purchase can be found here. 0.58% of the stock is owned by corporate insiders.
Newell Brands Company Profile
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)
- Toll Brothers Rises On Results, But The Roof Is In Place
- It’s Time To Try On VF Corporation’s 6% Yield
- PetCo Management Getting it Right? Earnings Beat Says Yes
- Axcelis Stock In Buy Range After Chart Breakout, Strong Guidance
- Kohl’s 10% Yield Comes Into High Fashion
Want to see what other hedge funds are holding NWL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newell Brands Inc. (NASDAQ:NWL – Get Rating).
Receive News & Ratings for Newell Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newell Brands and related companies with MarketBeat.com's FREE daily email newsletter.
