Arizona State Retirement System lessened its holdings in Newell Brands Inc. (NASDAQ:NWL – Free Report) by 3.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 110,504 shares of the company’s stock after selling 3,729 shares during the period. Arizona State Retirement System’s holdings in Newell Brands were worth $961,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in NWL. Banque Pictet & Cie SA increased its stake in Newell Brands by 127.2% in the first quarter. Banque Pictet & Cie SA now owns 129,580 shares of the company’s stock valued at $1,612,000 after acquiring an additional 72,536 shares during the last quarter. Stonebridge Capital Advisors LLC increased its stake in Newell Brands by 1.4% in the first quarter. Stonebridge Capital Advisors LLC now owns 96,095 shares of the company’s stock valued at $1,195,000 after acquiring an additional 1,352 shares during the last quarter. Moors & Cabot Inc. increased its stake in Newell Brands by 5.3% in the first quarter. Moors & Cabot Inc. now owns 30,456 shares of the company’s stock valued at $379,000 after acquiring an additional 1,520 shares during the last quarter. Guggenheim Capital LLC increased its stake in Newell Brands by 84.4% in the first quarter. Guggenheim Capital LLC now owns 368,876 shares of the company’s stock valued at $4,589,000 after acquiring an additional 168,834 shares during the last quarter. Finally, CWM LLC increased its stake in Newell Brands by 43.5% in the first quarter. CWM LLC now owns 3,297 shares of the company’s stock valued at $41,000 after acquiring an additional 999 shares during the last quarter. Hedge funds and other institutional investors own 91.53% of the company’s stock.
Newell Brands Stock Down 4.1 %
NASDAQ NWL opened at $6.72 on Wednesday. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.24 and a quick ratio of 0.65. The stock has a market capitalization of $2.78 billion, a PE ratio of -5.01 and a beta of 1.03. Newell Brands Inc. has a 1 year low of $6.52 and a 1 year high of $16.75. The business’s 50-day moving average is $8.70 and its 200 day moving average is $9.34.
Newell Brands Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were issued a $0.07 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $0.28 annualized dividend and a yield of 4.17%. Newell Brands’s dividend payout ratio (DPR) is presently -20.90%.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on NWL shares. Citigroup reduced their target price on Newell Brands from $11.00 to $8.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 11th. Barclays reduced their price objective on Newell Brands from $9.00 to $6.00 and set an “underweight” rating on the stock in a research note on Thursday, October 12th. Royal Bank of Canada reduced their price objective on Newell Brands from $12.00 to $9.00 and set a “sector perform” rating on the stock in a research note on Monday. Canaccord Genuity Group raised their price objective on Newell Brands from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, July 31st. Finally, Morgan Stanley reduced their price objective on Newell Brands from $11.00 to $8.50 and set an “equal weight” rating on the stock in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Newell Brands currently has a consensus rating of “Hold” and an average target price of $9.85.
Read Our Latest Analysis on NWL
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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