Hennessy Advisors Inc. Reduces Stock Position in Newell Brands Inc. (NASDAQ:NWL)

Hennessy Advisors Inc. cut its stake in shares of Newell Brands Inc. (NASDAQ:NWL - Free Report) by 8.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,624,500 shares of the company's stock after selling 647,700 shares during the period. Newell Brands accounts for approximately 1.4% of Hennessy Advisors Inc.'s portfolio, making the stock its 18th largest holding. Hennessy Advisors Inc. owned approximately 1.59% of Newell Brands worth $41,072,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Newell Brands by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 46,892,882 shares of the company's stock worth $467,053,000 after purchasing an additional 1,974,823 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of 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 purchasing an additional 3,188,718 shares during the last quarter. FMR LLC increased its position 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 worth $144,695,000 after purchasing an additional 10,172,696 shares during the last quarter. Deprince Race & Zollo Inc. increased its position in shares of Newell Brands by 12.0% in the fourth quarter. Deprince Race & Zollo Inc. now owns 12,760,180 shares of the company's stock worth $127,091,000 after purchasing an additional 1,363,913 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Newell Brands by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 6,938,654 shares of the company's stock worth $69,132,000 after purchasing an additional 303,371 shares during the last quarter. 92.50% of the stock is currently owned by institutional investors.

Newell Brands Stock Down 3.5%

NWL stock traded down $0.19 during trading on Friday, hitting $5.24. 12,198,804 shares of the stock traded hands, compared to its average volume of 7,661,533. Newell Brands Inc. has a 1 year low of $4.22 and a 1 year high of $11.78. The firm's 50 day moving average is $5.24 and its two-hundred day moving average is $7.38. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of -10.08, a price-to-earnings-growth ratio of 0.95 and a beta of 0.97. 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 (NASDAQ:NWL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.06. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.54 billion. Newell Brands had a negative net margin of 2.85% and a positive return on equity of 9.76%. The business's revenue was down 5.3% on a year-over-year basis. On average, sell-side analysts anticipate 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 was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 5.34%. The ex-dividend date was Friday, May 30th. Newell Brands's payout ratio is presently -47.46%.

Analyst Upgrades and Downgrades

NWL has been the topic of several research analyst reports. Truist Financial decreased their price objective on shares of Newell Brands from $17.00 to $8.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. UBS Group dropped their price target on shares of Newell Brands from $5.50 to $5.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Royal Bank of Canada reissued a "sector perform" rating and set a $9.00 price target on shares of Newell Brands in a research report on Monday, April 28th. Canaccord Genuity Group decreased their price objective on shares of Newell Brands from $12.00 to $11.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, Citigroup decreased their price target on shares of Newell Brands from $7.75 to $4.75 and set a "neutral" rating for the company in a research note on Monday, April 14th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $7.53.

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.