Castleark Management LLC Acquires New Stake in Newell Brands Inc. (NASDAQ:NWL)

Castleark Management LLC bought a new position in shares of Newell Brands Inc. (NASDAQ:NWL - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 377,330 shares of the company's stock, valued at approximately $3,758,000. Castleark Management LLC owned approximately 0.09% of Newell Brands as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Newell Brands by 17.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,148,360 shares of the company's stock valued at $11,438,000 after purchasing an additional 170,003 shares during the period. Soviero Asset Management LP purchased a new stake in Newell Brands in the 4th quarter valued at about $3,088,000. Tidal Investments LLC raised its holdings in Newell Brands by 12.9% in the 4th quarter. Tidal Investments LLC now owns 58,725 shares of the company's stock valued at $585,000 after buying an additional 6,713 shares during the period. Point72 Asset Management L.P. acquired a new position in Newell Brands in the fourth quarter valued at about $5,466,000. Finally, Polar Asset Management Partners Inc. purchased a new position in Newell Brands during the fourth quarter worth about $1,942,000. 92.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NWL. UBS Group decreased their price objective on shares of Newell Brands from $5.50 to $5.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Barclays increased their target price on Newell Brands from $8.00 to $9.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Wells Fargo & Company dropped their target price on Newell Brands from $6.00 to $5.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. JPMorgan Chase & Co. reduced their price target on shares of Newell Brands from $8.00 to $6.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Finally, StockNews.com upgraded shares of Newell Brands from a "sell" rating to a "hold" rating in a report on Sunday, May 4th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $7.42.

Newell Brands Trading Down 4.7%

Shares of Newell Brands stock opened at $5.44 on Thursday. 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 fifty day simple moving average of $5.47 and a 200-day simple moving average of $7.81. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of -10.46, a PEG ratio of 0.95 and a beta of 0.92. Newell Brands Inc. has a 12-month low of $4.22 and a 12-month high of $11.78.

Newell Brands (NASDAQ:NWL - Get Free Report) last issued its quarterly earnings data 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 positive return on equity of 9.76% and a negative net margin of 2.85%. The company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.54 billion. The business's revenue was down 5.3% on a year-over-year basis. On average, equities analysts forecast that Newell Brands Inc. will post 0.72 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 5.15%. The ex-dividend date is Friday, May 30th. Newell Brands's payout ratio is currently -47.46%.

Newell Brands 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.

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