Allianz Asset Management GmbH Has $9.90 Million Position in Newell Brands Inc. (NASDAQ:NWL)

Key Points

• Allianz Asset Management GmbH has increased its stake in Newell Brands Inc. by 202.5%, acquiring an additional 1,069,337 shares, bringing its total holdings to approximately $9.9 million.
• Other institutional investors, such as FMR LLC and Massachusetts Financial Services Co., have also significantly increased their positions in Newell Brands, indicating strong interest in the stock.
• Newell Brands reported earnings with a positive EPS of ($0.01), exceeding estimates, but its quarterly revenue decreased by 5.3% compared to the previous year.

Allianz Asset Management GmbH lifted its position in shares of Newell Brands Inc. (NASDAQ:NWL - Free Report) by 202.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,597,435 shares of the company's stock after purchasing an additional 1,069,337 shares during the quarter. Allianz Asset Management GmbH owned 0.38% of Newell Brands worth $9,904,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Castlekeep Investment Advisors LLC purchased a new stake in Newell Brands in the fourth quarter valued at $33,000. Farther Finance Advisors LLC raised its stake in shares of Newell Brands by 212.6% during the first quarter. Farther Finance Advisors LLC now owns 6,130 shares of the company's stock worth $38,000 after purchasing an additional 4,169 shares during the last quarter. NBC Securities Inc. lifted its holdings in shares of Newell Brands by 146,542.9% in the 1st quarter. NBC Securities Inc. now owns 10,265 shares of the company's stock valued at $63,000 after buying an additional 10,258 shares during the period. MQS Management LLC acquired a new position in Newell Brands during the first quarter worth $89,000. Finally, Whitegate Investment Counselors Inc. acquired a new stake in shares of Newell Brands during the first quarter valued at $94,000. 92.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NWL has been the topic of several recent analyst reports. Canaccord Genuity Group reduced their target price on Newell Brands from $12.00 to $11.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. UBS Group raised their target price on Newell Brands from $5.00 to $5.50 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Wall Street Zen raised shares of Newell Brands from a "sell" rating to a "hold" rating in a research report on Sunday, May 4th. Truist Financial lowered their target price on Newell Brands from $17.00 to $8.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, Barclays boosted their price objective on Newell Brands from $8.00 to $9.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Newell Brands presently has an average rating of "Hold" and a consensus target price of $7.94.

Newell Brands Stock Up 2.0%

NASDAQ:NWL traded up $0.12 during trading hours on Friday, hitting $6.27. 4,961,656 shares of the stock traded hands, compared to its average volume of 6,475,881. The firm has a 50 day moving average price of $5.59 and a 200 day moving average price of $6.39. The company has a current ratio of 1.13, a quick ratio of 0.54 and a debt-to-equity ratio of 1.68. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of -10.63 and a beta of 0.96. Newell Brands Inc. has a fifty-two week low of $4.22 and a fifty-two week high of $11.78.

Newell Brands (NASDAQ:NWL - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.06. Newell Brands had a negative net margin of 3.26% and a positive return on equity of 9.95%. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.54 billion. The company's quarterly revenue was down 5.3% on a year-over-year basis. Equities research analysts anticipate that Newell Brands Inc. will post 0.72 earnings per share for the current year.

Newell Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date was Friday, May 30th. Newell Brands's dividend payout ratio (DPR) is presently -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.