Citigroup Inc. Acquires 472,070 Shares of Newell Brands Inc. $NWL

Citigroup Inc. grew its position in shares of Newell Brands Inc. (NASDAQ:NWL - Free Report) by 23.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,483,487 shares of the company's stock after buying an additional 472,070 shares during the quarter. Citigroup Inc. owned 0.59% of Newell Brands worth $15,398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Castlekeep Investment Advisors LLC purchased a new stake in shares of Newell Brands in the 4th quarter worth $33,000. Farther Finance Advisors LLC increased its stake in shares of Newell Brands by 212.6% in the 1st 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 in the last quarter. NBC Securities Inc. increased its stake 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 worth $63,000 after purchasing an additional 10,258 shares in the last quarter. Atria Wealth Solutions Inc. purchased a new stake in shares of Newell Brands in the 1st quarter worth $69,000. Finally, MQS Management LLC purchased a new stake in Newell Brands in the 1st quarter worth $89,000. 92.50% of the stock is owned by institutional investors.

Newell Brands Price Performance

Shares of Newell Brands stock traded up $0.44 during trading on Monday, reaching $5.90. 5,331,741 shares of the stock traded hands, compared to its average volume of 9,101,206. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of -9.97 and a beta of 0.96. The business has a fifty day simple moving average of $5.53 and a two-hundred day simple moving average of $5.87. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.12 and a quick ratio of 0.57. Newell Brands Inc. has a 52-week low of $4.22 and a 52-week high of $11.78.

Newell Brands (NASDAQ:NWL - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The company reported $0.24 EPS for the quarter, meeting analysts' consensus estimates of $0.24. Newell Brands had a negative net margin of 3.29% and a positive return on equity of 8.48%. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter last year, the firm earned $0.36 EPS. The firm's revenue for the quarter was down 4.8% compared to the same quarter last year. Sell-side analysts expect 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 Monday, September 15th. Investors of record on Friday, August 29th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.7%. Newell Brands's dividend payout ratio (DPR) is presently -47.46%.

Insider Activity at Newell Brands

In related news, CEO Melanie Arlene Huet sold 8,800 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $5.11, for a total value of $44,968.00. Following the completion of the transaction, the chief executive officer owned 52,007 shares of the company's stock, valued at approximately $265,755.77. This trade represents a 14.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. UBS Group increased their price target on Newell Brands from $5.00 to $5.50 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Wall Street Zen upgraded Newell Brands from a "sell" rating to a "hold" rating in a research note on Sunday, May 4th. Truist Financial cut their price target on Newell Brands from $17.00 to $8.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Barclays increased their price target on Newell Brands from $8.00 to $9.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Finally, Citigroup reiterated a "neutral" rating and issued a $6.00 price target (up previously from $5.00) on shares of Newell Brands in a research note on Tuesday, July 15th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $7.44.

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.