Newell Brands Inc. $NWL Stock Position Decreased by Renaissance Technologies LLC

Key Points

• Renaissance Technologies cut its Newell Brands stake by 40.9% in the first quarter, selling 164,821 shares and retaining 238,527 shares worth approximately $818,000. Institutional investors collectively own 92.5% of NWL.
• Wall Street’s consensus rating is “Hold”, with an average price target of $6.66. Analysts’ targets range from $5 to $7, including overweight ratings from Barclays and JPMorgan Chase.
• Newell Brands exceeded quarterly earnings expectations, reporting $0.42 in EPS versus the $0.20 consensus and $1.99 billion in revenue. The company also declared a quarterly dividend of $0.07 per share, representing a 4.5% annualized yield.

Renaissance Technologies LLC decreased its holdings in shares of Newell Brands Inc. (NASDAQ:NWL - Free Report) by 40.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 238,527 shares of the company's stock after selling 164,821 shares during the quarter. Renaissance Technologies LLC owned approximately 0.06% of Newell Brands worth $818,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. California State Teachers Retirement System increased its position in Newell Brands by 0.6% in the second quarter. California State Teachers Retirement System now owns 384,848 shares of the company's stock worth $2,078,000 after buying an additional 2,108 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Newell Brands by 2.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 78,967 shares of the company's stock valued at $294,000 after acquiring an additional 2,171 shares during the period. Osaic Holdings Inc. grew its position in shares of Newell Brands by 19.6% during the second quarter. Osaic Holdings Inc. now owns 14,104 shares of the company's stock worth $76,000 after acquiring an additional 2,308 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its position in shares of Newell Brands by 14.1% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 19,898 shares of the company's stock worth $68,000 after acquiring an additional 2,456 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in shares of Newell Brands by 13.3% during the first quarter. Parallel Advisors LLC now owns 23,881 shares of the company's stock worth $82,000 after acquiring an additional 2,795 shares during the last quarter. Institutional investors own 92.50% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NWL shares. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $6.00 target price on shares of Newell Brands in a research note on Monday, August 3rd. Citigroup lifted their price target on Newell Brands from $5.50 to $6.00 and gave the company a "neutral" rating in a report on Tuesday, August 4th. Royal Bank Of Canada boosted their price objective on Newell Brands from $4.00 to $5.00 and gave the stock a "sector perform" rating in a research report on Monday, August 3rd. Barclays increased their price objective on Newell Brands from $5.00 to $7.00 and gave the stock an "overweight" rating in a report on Tuesday, July 21st. Finally, JPMorgan Chase & Co. lifted their target price on Newell Brands from $5.00 to $7.00 and gave the company an "overweight" rating in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $6.66.

Insider Transactions at Newell Brands

In other Newell Brands news, insider Kristine Kay Malkoski sold 10,850 shares of the company's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $3.65, for a total value of $39,602.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bradford R. Turner sold 100,000 shares of the firm's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $3.60, for a total transaction of $360,000.00. Following the transaction, the insider owned 464,449 shares of the company's stock, valued at approximately $1,672,016.40. This trade represents a 17.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 211,750 shares of company stock worth $1,018,896. 1.64% of the stock is owned by corporate insiders.

Newell Brands Stock Up 1.1%

Newell Brands stock opened at $6.24 on Friday. Newell Brands Inc. has a 52 week low of $3.07 and a 52 week high of $7.13. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of -11.77, a PEG ratio of 1.54 and a beta of 0.88. The company's 50-day moving average price is $5.40 and its two-hundred day moving average price is $4.53. The company has a current ratio of 1.11, a quick ratio of 0.59 and a debt-to-equity ratio of 1.85.

Newell Brands (NASDAQ:NWL - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.22. Newell Brands had a negative net margin of 3.05% and a positive return on equity of 12.31%. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same period in the prior year, the business posted $0.24 EPS. The business's revenue for the quarter was up 3.0% compared to the same quarter last year. Newell Brands has set its Q3 2026 guidance at 0.180-0.200 EPS and its FY 2026 guidance at 0.730-0.770 EPS. On average, analysts expect that Newell Brands Inc. will post 0.76 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.28 annualized dividend and a yield of 4.5%. Newell Brands's dividend payout ratio (DPR) is currently -52.83%.

Newell Brands Profile

Newell Brands Inc, trading on NASDAQ under the ticker NWL, is a global consumer goods company known for its diverse portfolio of household, commercial, and specialty products. Formed through the merger of Newell Rubbermaid and Jarden Corporation in 2016, the company traces its roots back to Newell Manufacturing, which was founded in 1903. Headquartered in Atlanta, Georgia, Newell Brands has built a reputation for widely recognized brands spanning multiple consumer categories.

The company's business activities are organized across several segments, including writing and creative expression, home solutions, commercial products, and outdoor recreation.

Want to see what other hedge funds are holding NWL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Newell Brands Inc. (NASDAQ:NWL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source