Pzena Investment Management LLC Trims Holdings in Newell Brands Inc. (NASDAQ:NWL)

Pzena Investment Management LLC cut its stake in shares of Newell Brands Inc. (NASDAQ:NWL - Free Report) by 0.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,738,611 shares of the company's stock after selling 271,814 shares during the period. Newell Brands makes up 1.1% of Pzena Investment Management LLC's holdings, making the stock its 29th biggest holding. Pzena Investment Management LLC owned approximately 11.67% of Newell Brands worth $302,179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. FMR LLC boosted its stake in shares of 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 purchasing an additional 10,172,696 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Newell Brands by 25.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 20,846,692 shares of the company's stock valued at $129,249,000 after purchasing an additional 4,273,541 shares during the period. Norges Bank purchased a new position in Newell Brands in the fourth quarter worth approximately $37,174,000. Dimensional Fund Advisors LP lifted its stake 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 worth $180,172,000 after acquiring an additional 3,188,718 shares during the last quarter. Finally, FIL Ltd lifted its stake in Newell Brands by 109.2% in the fourth quarter. FIL Ltd now owns 5,720,884 shares of the company's stock worth $56,980,000 after acquiring an additional 2,986,426 shares during the last quarter. 92.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on NWL. Citigroup reissued a "neutral" rating and set a $6.00 price objective (up previously from $5.00) on shares of Newell Brands in a report on Tuesday. 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 cut their price objective on shares of Newell Brands from $17.00 to $8.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. JPMorgan Chase & Co. raised shares of Newell Brands from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $6.00 to $7.00 in a report on Friday, June 13th. Finally, UBS Group lifted their target price on shares of Newell Brands from $5.00 to $5.50 and gave the company a "neutral" rating in a report on Thursday. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $7.83.

Newell Brands Price Performance

Shares of Newell Brands stock traded down $0.04 on Friday, hitting $5.60. The company's stock had a trading volume of 4,574,162 shares, compared to its average volume of 7,941,751. Newell Brands Inc. has a 52-week low of $4.22 and a 52-week high of $11.78. The company has a quick ratio of 0.54, a current ratio of 1.13 and a debt-to-equity ratio of 1.68. The firm has a fifty day moving average price of $5.56 and a 200-day moving average price of $6.60. The company has a market capitalization of $2.34 billion, a P/E ratio of -9.49 and a beta of 0.96.

Newell Brands (NASDAQ:NWL - Get Free Report) last released its quarterly earnings data 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 3.26% and a positive return on equity of 9.95%. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.54 billion. Newell Brands's quarterly revenue was down 5.3% compared to the same quarter last year. On average, equities research analysts expect that Newell Brands Inc. will post 0.72 earnings per share for the current fiscal year.

Newell Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a $0.07 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.28 dividend on an annualized basis and a yield of 5.00%. Newell Brands's dividend payout ratio (DPR) is -47.46%.

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.