Allianz Asset Management GmbH Buys 1,069,337 Shares of 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 grew its stake in shares of Newell Brands Inc. (NASDAQ:NWL - Free Report) by 202.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,597,435 shares of the company's stock after purchasing an additional 1,069,337 shares during the period. Allianz Asset Management GmbH owned about 0.38% of Newell Brands worth $9,904,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NWL. Norges Bank purchased a new stake in shares of Newell Brands during the fourth quarter worth $37,174,000. Trexquant Investment LP lifted its position in shares of Newell Brands by 84.9% during the fourth quarter. Trexquant Investment LP now owns 1,463,392 shares of the company's stock worth $14,575,000 after acquiring an additional 671,884 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Newell Brands by 121.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 143,401 shares of the company's stock worth $889,000 after acquiring an additional 78,718 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Newell Brands by 2.4% during the first quarter. Principal Financial Group Inc. now owns 2,064,725 shares of the company's stock worth $12,801,000 after acquiring an additional 48,904 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Newell Brands by 21.8% during the fourth quarter. Russell Investments Group Ltd. now owns 3,288,610 shares of the company's stock worth $32,755,000 after acquiring an additional 588,777 shares in the last quarter. Hedge funds and other institutional investors own 92.50% of the company's stock.

Analyst Ratings Changes

NWL has been the topic of several recent research reports. Royal Bank Of Canada restated a "sector perform" rating and set a $9.00 target price on shares of Newell Brands in a research report on Monday, April 28th. Canaccord Genuity Group cut their price target on shares of Newell Brands from $12.00 to $11.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Truist Financial cut their price target on shares of Newell Brands from $17.00 to $8.00 and set a "buy" rating for the company in a report on Thursday, April 24th. UBS Group raised their price target on shares of Newell Brands from $5.00 to $5.50 and gave the company a "neutral" rating in a report on Thursday, July 17th. Finally, Wells Fargo & Company raised their price target on shares of Newell Brands from $5.00 to $6.00 and gave the company an "equal weight" rating in a report on Wednesday, July 9th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $7.81.

Newell Brands Price Performance

NWL traded down $0.23 during trading on Wednesday, reaching $5.72. The stock had a trading volume of 8,474,143 shares, compared to its average volume of 6,224,182. The stock has a market cap of $2.39 billion, a PE ratio of -9.69 and a beta of 0.96. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.54 and a current ratio of 1.13. Newell Brands Inc. has a one year low of $4.22 and a one year high of $11.78. The business has a 50-day moving average of $5.61 and a 200-day moving average of $6.35.

Newell Brands (NASDAQ:NWL - Get Free Report) last issued its 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. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.54 billion. Newell Brands had a positive return on equity of 9.95% and a negative net margin of 3.26%. The company's quarterly revenue was down 5.3% on a year-over-year basis. As a group, equities research analysts anticipate that Newell Brands Inc. will post 0.72 EPS for the current fiscal year.

Newell Brands Announces Dividend

The company 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 annualized dividend and a yield of 4.90%. The ex-dividend date of this dividend was Friday, May 30th. Newell Brands's dividend payout ratio is currently -47.46%.

Newell Brands Company Profile

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.