Millennium Management LLC Sells 5,192,800 Shares of Newell Brands Inc. (NASDAQ:NWL)

Millennium Management LLC cut its holdings in Newell Brands Inc. (NASDAQ:NWL - Free Report) by 66.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,592,690 shares of the company's stock after selling 5,192,800 shares during the period. Millennium Management LLC owned approximately 0.62% of Newell Brands worth $25,823,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Castlekeep Investment Advisors LLC acquired a new stake in shares of Newell Brands in the 4th quarter valued at about $33,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Newell Brands in the 4th quarter valued at about $46,000. Smartleaf Asset Management LLC grew its stake in shares of Newell Brands by 140.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 7,912 shares of the company's stock valued at $79,000 after buying an additional 4,617 shares during the period. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Newell Brands in the 4th quarter valued at about $101,000. Finally, Seeds Investor LLC acquired a new stake in shares of Newell Brands in the 4th quarter valued at about $105,000. 92.50% of the stock is currently owned by institutional investors and hedge funds.

Newell Brands Price Performance

Newell Brands stock opened at $5.69 on Tuesday. Newell Brands Inc. has a 52 week low of $4.22 and a 52 week high of $11.78. The company's 50 day moving average price is $5.51 and its two-hundred day moving average price is $7.84. 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 cap of $2.38 billion, a P/E ratio of -10.94, a P/E/G ratio of 0.95 and a beta of 0.92.

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

Newell Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.28 annualized dividend and a dividend yield of 4.92%. Newell Brands's dividend payout ratio is currently -47.46%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NWL shares. 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 research note on Thursday, April 24th. Royal Bank of Canada restated a "sector perform" rating and issued a $9.00 target price on shares of Newell Brands in a research note on Monday, April 28th. Citigroup cut their price target 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. Wells Fargo & Company cut their price target on Newell Brands from $6.00 to $5.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Finally, Barclays lifted their price target on Newell Brands from $8.00 to $9.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $7.42.

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.

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