Newell Brands Inc. (NASDAQ:NWL) Holdings Decreased by King Luther Capital Management Corp

Key Points

• King Luther Capital Management Corp reduced its stake in Newell Brands by 12.7% during the first quarter, now holding approximately 3.75 million shares valued at $23.2 million.
• Newell Brands' recent quarterly earnings matched analysts' expectations with $0.24 EPS; however, revenue decreased by 4.8% year-over-year.
• Analysts have set a consensus rating of "Hold" for Newell Brands, with an average price target of $7.44, highlighting mixed sentiments around its stock performance.

King Luther Capital Management Corp decreased its stake in shares of Newell Brands Inc. (NASDAQ:NWL - Free Report) by 12.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,746,040 shares of the company's stock after selling 545,173 shares during the quarter. King Luther Capital Management Corp owned about 0.90% of Newell Brands worth $23,225,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Castlekeep Investment Advisors LLC acquired a new position in Newell Brands in the 4th quarter valued at $33,000. Farther Finance Advisors LLC grew its position in shares of Newell Brands by 212.6% in the first quarter. Farther Finance Advisors LLC now owns 6,130 shares of the company's stock valued at $38,000 after purchasing an additional 4,169 shares in the last quarter. NBC Securities Inc. grew its position in shares of Newell Brands by 146,542.9% in the first quarter. NBC Securities Inc. now owns 10,265 shares of the company's stock valued at $63,000 after purchasing an additional 10,258 shares in the last quarter. Seeds Investor LLC acquired a new stake in shares of Newell Brands in the fourth quarter valued at approximately $105,000. Finally, Atria Wealth Solutions Inc. purchased a new position in Newell Brands during the first quarter worth approximately $69,000. Hedge funds and other institutional investors own 92.50% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. cut their target price on Newell Brands from $8.00 to $7.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $9.00 target price on shares of Newell Brands in a research note on Monday, April 28th. Truist Financial reduced their price target on shares of Newell Brands from $17.00 to $8.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Wall Street Zen raised shares of Newell Brands from a "sell" rating to a "hold" rating in a research report on Sunday, May 4th. Finally, Citigroup reiterated a "neutral" rating and issued a $6.00 target price (up previously from $5.00) on shares of Newell Brands in a report on Tuesday, July 15th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Newell Brands presently has an average rating of "Hold" and an average target price of $7.44.

Insider Buying and Selling 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 transaction of $44,968.00. Following the sale, the chief executive officer owned 52,007 shares in the company, valued at $265,755.77. This represents a 14.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.71% of the company's stock.

Newell Brands Price Performance

Shares of NWL traded up $0.20 during mid-day trading on Thursday, reaching $5.39. 10,255,119 shares of the company's stock were exchanged, compared to its average volume of 9,140,049. Newell Brands Inc. has a 52-week low of $4.22 and a 52-week high of $11.78. The company has a market cap of $2.26 billion, a price-to-earnings ratio of -9.14 and a beta of 0.96. The company has a 50-day simple moving average of $5.53 and a two-hundred day simple moving average of $6.00. The company has a quick ratio of 0.57, a current ratio of 1.12 and a debt-to-equity ratio of 1.68.

Newell Brands (NASDAQ:NWL - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.24 EPS for the quarter, hitting analysts' consensus estimates of $0.24. The company had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.95 billion. Newell Brands had a positive return on equity of 8.48% and a negative net margin of 3.29%. The firm's quarterly revenue was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 earnings per share. On average, sell-side analysts predict that Newell Brands Inc. will post 0.72 EPS for the current fiscal year.

Newell Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date is Friday, August 29th. Newell Brands's payout ratio is -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.