Newell Brands Inc. (NASDAQ:NWL) Shares Sold by American International Group Inc.

Posted by on Jun 8th, 2023

American International Group Inc. reduced its position in shares of Newell Brands Inc. (NASDAQ:NWL – Get Rating) by 2.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 101,893 shares of the company’s stock after selling 2,784 shares during the quarter. American International Group Inc.’s holdings in Newell Brands were worth $1,333,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of NWL. Pzena Investment Management LLC grew its position in shares of Newell Brands by 21.6% in the fourth quarter. Pzena Investment Management LLC now owns 47,361,679 shares of the company’s stock valued at $619,491,000 after purchasing an additional 8,407,044 shares during the period. BlackRock Inc. increased its stake in Newell Brands by 2.9% during the 3rd quarter. BlackRock Inc. now owns 56,524,457 shares of the company’s stock worth $785,125,000 after buying an additional 1,583,751 shares in the last quarter. State Street Corp raised its holdings in shares of Newell Brands by 6.6% during the first quarter. State Street Corp now owns 21,398,665 shares of the company’s stock valued at $458,145,000 after acquiring an additional 1,330,465 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Newell Brands by 2,875.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 910,498 shares of the company’s stock valued at $11,909,000 after acquiring an additional 879,899 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Newell Brands by 2.0% in the third quarter. Vanguard Group Inc. now owns 43,410,150 shares of the company’s stock worth $602,968,000 after acquiring an additional 869,557 shares during the last quarter. 92.31% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Newell Brands news, CFO Mark J. Erceg purchased 9,515 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The stock was bought at an average price of $9.99 per share, with a total value of $95,054.85. Following the transaction, the chief financial officer now directly owns 153,140 shares of the company’s stock, valued at approximately $1,529,868.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NWL. Citigroup started coverage on Newell Brands in a report on Thursday, February 16th. They issued a “neutral” rating and a $15.00 price objective on the stock. Morgan Stanley cut 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 report on Monday, February 13th. Barclays decreased their target price on shares of Newell Brands from $13.00 to $11.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 14th. StockNews.com began coverage on Newell Brands in a report on Thursday, March 16th. They issued a “sell” rating for the company. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Newell Brands from $14.00 to $13.00 in a research note on Monday, May 1st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $17.18.

Newell Brands Stock Performance

NASDAQ NWL opened at $8.92 on Thursday. The company has a quick ratio of 0.55, a current ratio of 1.23 and a debt-to-equity ratio of 1.43. The firm’s 50-day moving average is $10.54 and its two-hundred day moving average is $12.44. Newell Brands Inc. has a 12 month low of $8.02 and a 12 month high of $21.55.

Newell Brands (NASDAQ:NWL – Get Rating) last announced its earnings results 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 firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the previous year, the firm earned $0.36 EPS. The firm’s revenue for the quarter was down 24.4% compared to the same quarter last year. As a group, research analysts anticipate that Newell Brands Inc. will post 0.97 earnings per share for the current fiscal year.

Newell Brands Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend is Tuesday, May 30th. Newell Brands’s dividend payout ratio is currently -96.55%.

Newell Brands Company Profile

(Get Rating)

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.

Featured Articles

Institutional Ownership by Quarter for Newell Brands (NASDAQ:NWL)

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.