Bank of New York Mellon Corp bought a new position in shares of Newell Brands Inc. (NASDAQ:NWL - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,464,932 shares of the company's stock, valued at approximately $15,135,000. Bank of New York Mellon Corp owned 0.58% of Newell Brands as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Quarry LP boosted its holdings in shares of Newell Brands by 139.3% in the fourth quarter. Quarry LP now owns 7,416 shares of the company's stock valued at $28,000 after acquiring an additional 4,317 shares in the last quarter. Summit Securities Group LLC acquired a new position in Newell Brands during the 4th quarter worth approximately $30,000. HighPoint Advisor Group LLC purchased a new position in shares of Newell Brands during the 4th quarter worth approximately $39,000. Citizens Financial Group Inc. RI purchased a new position in shares of Newell Brands during the 4th quarter worth approximately $39,000. Finally, 111 Capital acquired a new stake in shares of Newell Brands in the 4th quarter valued at approximately $39,000. Hedge funds and other institutional investors own 92.50% of the company's stock.
Insider Activity
In related news, insider Bradford R. Turner sold 100,000 shares of the firm's stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $6.16, for a total value of $616,000.00. Following the transaction, the insider owned 433,398 shares in the company, valued at approximately $2,669,731.68. This trade represents a 18.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.64% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on the company. Canaccord Genuity Group boosted their price target on Newell Brands from $9.00 to $11.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. JPMorgan Chase & Co. lifted their price objective on Newell Brands from $5.00 to $7.00 and gave the stock an "overweight" rating in a report on Thursday, July 16th. Zacks Research upgraded Newell Brands from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 31st. Citigroup upped their target price on Newell Brands from $5.50 to $6.00 and gave the company a "neutral" rating in a report on Tuesday, August 4th. Finally, Royal Bank Of Canada lifted their price target on Newell Brands from $4.00 to $5.00 and gave the stock a "sector perform" rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $6.66.
View Our Latest Stock Analysis on NWL
Newell Brands Price Performance
NWL opened at $6.25 on Tuesday. Newell Brands Inc. has a 1 year low of $3.07 and a 1 year high of $7.13. The company's 50 day simple moving average is $5.69 and its 200 day simple moving average is $4.65. The stock has a market capitalization of $2.66 billion, a PE ratio of -11.79, a P/E/G ratio of 1.52 and a beta of 0.88. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.59 and a current ratio of 1.11.
Newell Brands (NASDAQ:NWL - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.22. Newell Brands had a negative net margin of 3.05% and a positive return on equity of 12.31%. The company had revenue of $1.99 billion during the quarter, compared to analysts' expectations of $1.98 billion. During the same period in the previous year, the company earned $0.24 EPS. The business's quarterly revenue was up 3.0% compared to the same quarter last year. Newell Brands has set its Q3 2026 guidance at 0.180-0.200 EPS and its FY 2026 guidance at 0.730-0.770 EPS. As a group, sell-side analysts expect that Newell Brands Inc. will post 0.76 EPS for the current year.
Newell Brands Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Monday, August 31st. Newell Brands's payout ratio is currently -52.83%.
About Newell Brands
(
Free Report)
Newell Brands Inc, trading on NASDAQ under the ticker NWL, is a global consumer goods company known for its diverse portfolio of household, commercial, and specialty products. Formed through the merger of Newell Rubbermaid and Jarden Corporation in 2016, the company traces its roots back to Newell Manufacturing, which was founded in 1903. Headquartered in Atlanta, Georgia, Newell Brands has built a reputation for widely recognized brands spanning multiple consumer categories.
The company's business activities are organized across several segments, including writing and creative expression, home solutions, commercial products, and outdoor recreation.
See Also
Want to see what other hedge funds are holding NWL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newell Brands Inc. (NASDAQ:NWL - Free Report).
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