Newell Brands Inc. $NWL Shares Sold by Pzena Investment Management LLC

Key Points

• Pzena Investment Management cut its Newell Brands stake by 2.6%, selling about 1.27 million shares in the third quarter, but retained 46.72 million shares—roughly 10.97% of the company.
• Newell reported quarterly EPS of $0.20, matching estimates, while revenue rose 3.7% year over year to $1.87 billion. It announced a quarterly dividend of $0.07 per share, equivalent to a 4.8% annualized yield.
• Analyst sentiment was mixed: MarketBeat’s consensus rating was Hold, with an average price target of $6.62.

Pzena Investment Management LLC decreased its position in Newell Brands Inc. (NASDAQ:NWL - Free Report) by 2.6% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 46,720,744 shares of the company's stock after selling 1,269,920 shares during the period. Pzena Investment Management LLC owned about 10.97% of Newell Brands worth $246,686,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of NWL. State of Wyoming bought a new position in shares of Newell Brands during the 3rd quarter worth approximately $60,000. Choreo LLC bought a new stake in shares of Newell Brands in the third quarter worth $87,000. Citizens Financial Group Inc. RI lifted its position in Newell Brands by 8.7% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 23,445 shares of the company's stock worth $124,000 after buying an additional 1,872 shares in the last quarter. Sterling Capital Management LLC grew its holdings in shares of Newell Brands by 886.5% in the 3rd quarter. Sterling Capital Management LLC now owns 85,562 shares of the company's stock valued at $452,000 after acquiring an additional 76,889 shares in the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV grew its holdings in shares of Newell Brands by 3.4% in the 3rd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 101,490 shares of the company's stock valued at $536,000 after acquiring an additional 3,300 shares in the last quarter. Institutional investors and hedge funds own 92.50% of the company's stock.

Newell Brands Stock Performance

Shares of NASDAQ NWL opened at $5.86 on Thursday. The company has a current ratio of 1.27, a quick ratio of 0.67 and a debt-to-equity ratio of 2.05. The company has a market capitalization of $2.50 billion, a P/E ratio of -7.61, a P/E/G ratio of 0.79 and a beta of 0.88. Newell Brands Inc. has a 12 month low of $3.08 and a 12 month high of $7.13. The stock has a 50 day moving average of $5.66 and a 200-day moving average of $4.86.

Newell Brands (NASDAQ:NWL - Get Free Report) last posted its quarterly earnings results on Friday, October 30th. The company reported $0.20 earnings per share for the quarter, meeting analysts' consensus estimates of $0.20. Newell Brands had a positive return on equity of 13.41% and a negative net margin of 4.42%. The business had revenue of $1.87 billion for the quarter, compared to analysts' expectations of $1.86 billion. During the same quarter in the prior year, the business earned $0.17 EPS. The firm's revenue for the quarter was up 3.7% on a year-over-year basis. As a group, equities research analysts predict that Newell Brands Inc. will post 0.76 EPS for the current year.

Newell Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Monday, November 30th. This represents a $0.28 annualized dividend and a dividend yield of 4.8%. Newell Brands's payout ratio is presently -36.36%.

Wall Street Analysts Forecast Growth

NWL has been the subject of several recent research reports. UBS Group increased their price target on Newell Brands from $5.50 to $5.75 and gave the company a "neutral" rating in a research report on Monday. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $6.00 price target on shares of Newell Brands in a research report on Monday, August 3rd. JPMorgan Chase & Co. raised their target price on shares of Newell Brands from $5.00 to $7.00 and gave the company an "overweight" rating in a research note on Thursday, July 16th. Zacks Research upgraded shares of Newell Brands from a "hold" rating to a "strong-buy" rating in a report on Friday, October 2nd. Finally, Citigroup dropped their price target on shares of Newell Brands from $6.00 to $5.50 and set a "neutral" rating on the stock in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $6.62.

Newell Brands Company Profile

Newell Brands Inc is a global consumer products company that designs, manufactures and markets products used in homes, workplaces and outdoor settings. Its portfolio includes well-known brands such as Rubbermaid, Sharpie, Graco, Coleman, Yankee Candle, Crock-Pot, Mr. Coffee, FoodSaver, Calphalon, Elmer's and Sistema.

The company's products span food and home storage, cookware and small kitchen appliances, writing instruments and other learning supplies, baby and parenting products, outdoor and recreation equipment, home fragrance, and commercial products.

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