Lazard Asset Management LLC Acquires 51,913 Shares of Newell Brands Inc. (NASDAQ:NWL)

Lazard Asset Management LLC increased its position in shares of Newell Brands Inc. (NASDAQ:NWL - Free Report) by 56.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 144,133 shares of the company's stock after buying 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.

A number of other institutional investors have also added to or reduced their stakes in the company. PFG Investments LLC raised its stake in shares of Newell Brands by 6.6% in the fourth quarter. PFG Investments LLC now owns 15,812 shares of the company's stock worth $157,000 after purchasing an additional 981 shares during the last quarter. TriaGen Wealth Management LLC raised its stake in shares of Newell Brands by 1.7% in the fourth quarter. TriaGen Wealth Management LLC now owns 58,514 shares of the company's stock worth $583,000 after purchasing an additional 991 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Newell Brands by 0.9% in the fourth quarter. Arizona State Retirement System now owns 120,668 shares of the company's stock worth $1,202,000 after purchasing an additional 1,125 shares during the last quarter. Optas LLC raised its stake in shares of Newell Brands by 11.8% in the fourth quarter. Optas LLC now owns 12,397 shares of the company's stock worth $123,000 after purchasing an additional 1,306 shares during the last quarter. Finally, Signaturefd LLC raised its stake in shares of Newell Brands by 12.4% in the fourth quarter. Signaturefd LLC now owns 14,025 shares of the company's stock worth $140,000 after purchasing an additional 1,550 shares during the last quarter. 92.50% of the stock is owned by institutional investors and hedge funds.

Newell Brands Stock Performance

Shares of NWL traded down $0.16 during mid-day trading on Friday, hitting $5.48. The stock had a trading volume of 9,837,623 shares, compared to its average volume of 7,227,928. The firm has a market cap of $2.29 billion, a P/E ratio of -10.54, a PEG ratio of 0.95 and a beta of 0.92. The business has a fifty day moving average price of $5.43 and a 200-day moving average price of $7.75. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.14 and a quick ratio of 0.56. 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 issued its earnings results on Wednesday, April 30th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.54 billion. The firm's revenue was down 5.3% on a year-over-year basis. On average, equities research analysts expect that Newell Brands Inc. will post 0.72 EPS for the current year.

Newell Brands Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 5.11%. The ex-dividend date is Friday, May 30th. Newell Brands's payout ratio is currently -47.46%.

Wall Street Analyst Weigh In

NWL has been the subject of several analyst reports. Citigroup lowered their price objective on Newell Brands from $7.75 to $4.75 and set a "neutral" rating for the company in a research note on Monday, April 14th. Wall Street Zen raised Newell Brands from a "sell" rating to a "hold" rating in a report on Sunday, May 4th. Truist Financial reduced their target price on Newell Brands from $17.00 to $8.00 and set a "buy" rating for the company in a report on Thursday, April 24th. UBS Group reduced their target price on Newell Brands from $5.50 to $5.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Finally, Barclays upped their target price on Newell Brands from $8.00 to $9.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $7.42.

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.