Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Acquires 43,437 Shares of Newell Brands Inc. (NASDAQ:NWL)

Posted by on Aug 12th, 2023

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in Newell Brands Inc. (NASDAQ:NWL – Free Report) by 14.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 346,801 shares of the company’s stock after purchasing an additional 43,437 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned about 0.08% of Newell Brands worth $4,314,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Mariner LLC grew its holdings in shares of Newell Brands by 3.3% in the first quarter. Mariner LLC now owns 16,544 shares of the company’s stock worth $355,000 after purchasing an additional 532 shares during the last quarter. Private Advisor Group LLC grew its holdings in shares of Newell Brands by 5.0% in the first quarter. Private Advisor Group LLC now owns 12,567 shares of the company’s stock worth $269,000 after purchasing an additional 593 shares during the last quarter. Kinneret Advisory LLC grew its holdings in shares of Newell Brands by 2.3% in the first quarter. Kinneret Advisory LLC now owns 33,080 shares of the company’s stock worth $708,000 after purchasing an additional 739 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Newell Brands by 2.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 26,664 shares of the company’s stock worth $349,000 after purchasing an additional 740 shares during the last quarter. Finally, Yousif Capital Management LLC grew its holdings in shares of Newell Brands by 1.3% in the first quarter. Yousif Capital Management LLC now owns 58,920 shares of the company’s stock worth $1,261,000 after purchasing an additional 745 shares during the last quarter. Institutional investors own 94.88% of the company’s stock.

Newell Brands Price Performance

Shares of NASDAQ:NWL opened at $10.57 on Friday. Newell Brands Inc. has a 1-year low of $7.80 and a 1-year high of $21.55. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.25 and a quick ratio of 0.62. The business has a fifty day moving average price of $9.65 and a 200-day moving average price of $10.59. The company has a market capitalization of $4.38 billion, a PE ratio of -14.28 and a beta of 0.98.

Newell Brands (NASDAQ:NWL – Get Free Report) last issued its quarterly earnings results on Friday, July 28th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.11. Newell Brands had a positive return on equity of 10.33% and a negative net margin of 3.53%. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.15 billion. As a group, equities analysts expect that Newell Brands Inc. will post 0.86 EPS for the current fiscal year.

Newell Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.28 annualized dividend and a dividend yield of 2.65%. Newell Brands’s payout ratio is presently -37.84%.

Analyst Ratings Changes

NWL has been the subject of a number of research analyst reports. Raymond James dropped their price target on Newell Brands from $15.00 to $13.00 and set a “strong-buy” rating for the company in a research note on Monday, July 24th. Barclays dropped their price target on Newell Brands from $10.00 to $9.00 and set an “underweight” rating for the company in a research note on Thursday, July 20th. Canaccord Genuity Group raised their price target on Newell Brands from $13.00 to $16.00 and gave the stock a “buy” rating in a research note on Monday, July 31st. Citigroup raised their price target on Newell Brands from $9.00 to $11.00 and gave the stock a “neutral” rating in a research note on Monday, July 31st. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Newell Brands from $9.00 to $11.00 in a research note on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $16.08.

Check Out Our Latest Report on NWL

Newell Brands Company Profile

(Free Report)

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

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