Cresset Asset Management LLC Sells 73,755 Shares of Newell Brands Inc. (NASDAQ:NWL)

Cresset Asset Management LLC cut its holdings in shares of Newell Brands Inc. (NASDAQ:NWL - Free Report) by 65.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,019 shares of the company's stock after selling 73,755 shares during the quarter. Cresset Asset Management LLC's holdings in Newell Brands were worth $389,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Castlekeep Investment Advisors LLC acquired a new stake in Newell Brands during the fourth quarter worth approximately $33,000. Harvest Fund Management Co. Ltd purchased a new stake in Newell Brands in the fourth quarter valued at $46,000. Smartleaf Asset Management LLC boosted its stake in Newell Brands by 140.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 7,912 shares of the company's stock valued at $79,000 after acquiring an additional 4,617 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Newell Brands during the fourth quarter worth about $101,000. Finally, Seeds Investor LLC acquired a new position in Newell Brands during the fourth quarter worth approximately $105,000. Hedge funds and other institutional investors own 92.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NWL. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $9.00 price objective on shares of Newell Brands in a research report on Monday, April 28th. Barclays increased their price objective on shares of Newell Brands from $8.00 to $9.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Citigroup dropped their target price on shares of Newell Brands from $7.75 to $4.75 and set a "neutral" rating for the company in a research report on Monday, April 14th. StockNews.com raised shares of Newell Brands from a "sell" rating to a "hold" rating in a report on Sunday, May 4th. Finally, Truist Financial dropped their price target on shares of Newell Brands from $17.00 to $8.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $7.42.

Newell Brands Price Performance

NASDAQ:NWL traded down $0.21 during midday trading on Monday, hitting $5.69. 9,880,398 shares of the stock were exchanged, compared to its average volume of 7,109,753. The company has a current ratio of 1.14, a quick ratio of 0.56 and a debt-to-equity ratio of 1.64. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of -10.94, a P/E/G ratio of 0.95 and a beta of 0.92. The business has a 50-day moving average price of $5.53 and a two-hundred day moving average price of $7.86. Newell Brands Inc. has a one year low of $4.22 and a one year high of $11.78.

Newell Brands (NASDAQ:NWL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.06. Newell Brands had a negative net margin of 2.85% and a positive return on equity of 9.76%. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.54 billion. The business's revenue for the quarter was down 5.3% on a year-over-year basis. Sell-side analysts predict that Newell Brands Inc. will post 0.72 EPS for the current year.

Newell Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.07 per share. The ex-dividend date is Friday, May 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.92%. Newell Brands's dividend payout ratio is -47.46%.

About Newell Brands

Newell Brands Inc engages in the design, manufacture, sourcing, and distribution of consumer and commercial products worldwide. The company operates in three segments: Home and Commercial Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solution products under the Rubbermaid, Rubbermaid Commercial Products, Mapa, and Spontex brands; closet and garage organization products; hygiene systems and material handling solutions; household products, such as kitchen appliances under the Crockpot, Mr.