Arizona State Retirement System boosted its position in Newell Brands Inc. (NASDAQ:NWL – Free Report) by 2.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 114,233 shares of the company’s stock after purchasing an additional 3,014 shares during the period. Arizona State Retirement System’s holdings in Newell Brands were worth $1,421,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in NWL. Pzena Investment Management LLC lifted its position in 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. Norges Bank acquired a new stake in shares of Newell Brands during the 4th quarter valued at approximately $42,629,000. State Street Corp lifted its position in shares of Newell Brands by 6.6% during the 1st 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 period. Allspring Global Investments Holdings LLC lifted its position in shares of Newell Brands by 2,875.6% during the 4th 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 during the period. Finally, Vanguard Group Inc. lifted its position in shares of Newell Brands by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 43,410,150 shares of the company’s stock valued at $602,968,000 after acquiring an additional 869,557 shares during the period. Institutional investors and hedge funds own 94.88% of the company’s stock.
Insider Buying and Selling
In other Newell Brands news, CFO Mark J. Erceg purchased 9,515 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was purchased at an average cost of $9.99 per share, with a total value of $95,054.85. Following the transaction, the chief financial officer now owns 153,140 shares in the company, valued at $1,529,868.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by corporate insiders.
Newell Brands Stock Up 0.6 %
Newell Brands (NASDAQ:NWL – Get Free Report) last announced its quarterly earnings results on Friday, April 28th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). Newell Brands had a positive return on equity of 13.59% and a negative net margin of 1.31%. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same period last year, the company posted $0.36 earnings per share. The firm’s revenue for the quarter was down 24.4% on a year-over-year basis. On average, analysts anticipate that Newell Brands Inc. will post 0.96 EPS for the current year.
Newell Brands Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Wednesday, May 31st were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, May 30th. This represents a $0.28 dividend on an annualized basis and a yield of 2.80%. Newell Brands’s dividend payout ratio (DPR) is -96.55%.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Newell Brands from $14.00 to $13.00 in a research report on Monday, May 1st. Canaccord Genuity Group assumed coverage on shares of Newell Brands in a research report on Tuesday, July 11th. They set a “buy” rating and a $13.00 price target for the company. Citigroup reduced their price target on shares of Newell Brands from $13.00 to $9.00 in a research report on Tuesday, June 13th. Finally, Barclays cut their price objective on Newell Brands from $10.00 to $9.00 and set an “underweight” rating for the company in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $16.17.
Newell Brands Profile
Newell Brands Inc engages in the design, manufacture, sourcing, and distribution of consumer and commercial products worldwide. The company operates in five segments: Commercial Solutions, Home Appliances, Home Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solutions; closet and garage organization products; hygiene systems and material handling solutions; and connected home and security products under the Mapa, Quickie, Rubbermaid, Rubbermaid Commercial Products, and Spontex brands.
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