ARGA Investment Management LP Lowers Position in Newell Brands Inc. (NASDAQ:NWL)

ARGA Investment Management LP cut its holdings in Newell Brands Inc. (NASDAQ:NWL - Free Report) by 83.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 201,677 shares of the company's stock after selling 1,034,491 shares during the quarter. ARGA Investment Management LP's holdings in Newell Brands were worth $1,250,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Arizona State Retirement System raised its stake in Newell Brands by 0.9% during the 4th quarter. Arizona State Retirement System now owns 120,668 shares of the company's stock worth $1,202,000 after buying an additional 1,125 shares during the period. Signaturefd LLC raised its stake in Newell Brands by 12.4% during the 4th quarter. Signaturefd LLC now owns 14,025 shares of the company's stock worth $140,000 after buying an additional 1,550 shares during the period. Quadrant Capital Group LLC raised its stake in Newell Brands by 14.5% during the 4th quarter. Quadrant Capital Group LLC now owns 13,551 shares of the company's stock worth $135,000 after buying an additional 1,713 shares during the period. Sequoia Financial Advisors LLC raised its stake in Newell Brands by 10.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 18,149 shares of the company's stock worth $181,000 after buying an additional 1,780 shares during the period. Finally, Argent Trust Co raised its stake in Newell Brands by 9.3% during the 4th quarter. Argent Trust Co now owns 23,447 shares of the company's stock worth $234,000 after buying an additional 2,000 shares during the period. 92.50% of the stock is owned by institutional investors and hedge funds.

Newell Brands Price Performance

Shares of NWL stock traded down $0.10 on Friday, reaching $5.81. The company's stock had a trading volume of 6,602,718 shares, compared to its average volume of 7,940,637. The company has a quick ratio of 0.54, a current ratio of 1.13 and a debt-to-equity ratio of 1.68. Newell Brands Inc. has a 12-month low of $4.22 and a 12-month high of $11.78. The company has a market capitalization of $2.43 billion, a P/E ratio of -9.85 and a beta of 0.96. The stock's 50 day simple moving average is $5.53 and its 200-day simple moving average is $6.73.

Newell Brands (NASDAQ:NWL - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported ($0.01) earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.06. Newell Brands had a positive return on equity of 9.95% and a negative net margin of 3.26%. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.54 billion. The business's revenue was down 5.3% compared to the same quarter last year. As a group, equities analysts predict that Newell Brands Inc. will post 0.72 earnings per share for the current fiscal year.

Newell Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.28 annualized dividend and a dividend yield of 4.82%. Newell Brands's payout ratio is presently -47.46%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Wells Fargo & Company boosted their price objective on Newell Brands from $5.00 to $6.00 and gave the stock an "equal weight" rating in a report on Wednesday. Barclays boosted their price objective on Newell Brands from $8.00 to $9.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Royal Bank Of Canada reissued a "sector perform" rating and set a $9.00 price objective on shares of Newell Brands in a report on Monday, April 28th. Truist Financial decreased their price objective on Newell Brands from $17.00 to $8.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, Wall Street Zen raised Newell Brands from a "sell" rating to a "hold" rating in a report on Sunday, May 4th. Six 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 currently has an average rating of "Hold" and an average target price of $7.64.

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.