Newell Brands Inc. (NASDAQ:NWL) Position Boosted by Lazard Asset Management LLC

Lazard Asset Management LLC boosted its position in shares of Newell Brands Inc. (NASDAQ:NWL - Free Report) by 56.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 144,133 shares of the company's stock after acquiring an additional 51,913 shares during the quarter. Lazard Asset Management LLC's holdings in Newell Brands were worth $1,435,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in NWL. FMR LLC lifted its stake in Newell Brands by 233.6% in the fourth quarter. FMR LLC now owns 14,527,609 shares of the company's stock valued at $144,695,000 after buying an additional 10,172,696 shares during the last quarter. Norges Bank acquired a new stake in Newell Brands in the fourth quarter valued at $37,174,000. Dimensional Fund Advisors LP grew its holdings in Newell Brands by 21.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 18,089,297 shares of the company's stock valued at $180,172,000 after purchasing an additional 3,188,718 shares during the last quarter. FIL Ltd grew its holdings in Newell Brands by 109.2% in the fourth quarter. FIL Ltd now owns 5,720,884 shares of the company's stock valued at $56,980,000 after purchasing an additional 2,986,426 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Newell Brands by 214.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,349,136 shares of the company's stock valued at $33,357,000 after purchasing an additional 2,282,949 shares during the last quarter. Hedge funds and other institutional investors own 92.50% of the company's stock.

Wall Street Analysts Forecast Growth

NWL has been the topic of several research reports. JPMorgan Chase & Co. lowered their target price on Newell Brands from $8.00 to $6.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Truist Financial dropped their target price on shares of Newell Brands from $17.00 to $8.00 and set a "buy" rating for the company in a research report 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. Canaccord Genuity Group dropped their target price on shares of Newell Brands from $12.00 to $11.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, Wells Fargo & Company lowered their price objective on shares of 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. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $7.42.

Newell Brands Stock Performance

NWL stock traded down $0.18 during mid-day trading on Friday, reaching $5.47. The company had a trading volume of 5,183,011 shares, compared to its average volume of 9,047,587. Newell Brands Inc. has a one year low of $4.22 and a one year high of $11.78. The stock's 50-day simple moving average is $5.45 and its two-hundred day simple moving average is $7.78. The company has a quick ratio of 0.56, a current ratio of 1.14 and a debt-to-equity ratio of 1.64. The stock has a market capitalization of $2.28 billion, a P/E ratio of -10.51, a P/E/G ratio of 0.95 and a beta of 0.92.

Newell Brands (NASDAQ:NWL - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.07) by $0.06. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.54 billion. Newell Brands had a positive return on equity of 9.76% and a negative net margin of 2.85%. Newell Brands's revenue was down 5.3% on a year-over-year basis. Research analysts anticipate that Newell Brands Inc. will post 0.72 EPS for the current year.

Newell Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.28 dividend on an annualized basis and a yield of 5.12%. 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.