Nuveen Asset Management LLC lifted its position in Newell Brands Inc. (NASDAQ:NWL - Free Report) by 96.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,153,611 shares of the company's stock after purchasing an additional 1,057,046 shares during the quarter. Nuveen Asset Management LLC owned about 0.52% of Newell Brands worth $21,450,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Castlekeep Investment Advisors LLC purchased a new stake in shares of Newell Brands in the fourth quarter valued at about $33,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Newell Brands in the fourth quarter valued at about $46,000. Smartleaf Asset Management LLC grew its holdings in shares of Newell Brands by 140.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 7,912 shares of the company's stock valued at $79,000 after purchasing an additional 4,617 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Newell Brands in the fourth quarter valued at about $101,000. Finally, Seeds Investor LLC purchased a new stake in shares of Newell Brands in the fourth quarter valued at about $105,000. Hedge funds and other institutional investors own 92.50% of the company's stock.
Newell Brands Stock Up 1.2%
Shares of NASDAQ NWL traded up $0.07 during midday trading on Thursday, hitting $5.38. The company's stock had a trading volume of 1,946,417 shares, compared to its average volume of 9,037,540. The business's fifty day simple moving average is $5.37 and its two-hundred day simple moving average is $7.69. 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 Inc. has a 1 year low of $4.22 and a 1 year high of $11.78. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of -10.34, a price-to-earnings-growth ratio of 0.95 and a beta of 0.92.
Newell Brands (NASDAQ:NWL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.06. Newell Brands had a negative net margin of 2.85% and a positive return on equity of 9.76%. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.54 billion. The company's revenue was down 5.3% on a year-over-year basis. On average, equities analysts predict that Newell Brands Inc. will post 0.72 EPS for the current year.
Newell Brands Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 5.21%. The ex-dividend date is Friday, May 30th. Newell Brands's payout ratio is -47.46%.
Analyst Ratings Changes
A number of brokerages recently issued reports on NWL. Truist Financial dropped their price objective on shares of Newell Brands from $17.00 to $8.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Wells Fargo & Company lowered their target price on shares of Newell Brands from $6.00 to $5.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Citigroup lowered their target price 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. Wall Street Zen raised shares of Newell Brands from a "sell" rating to a "hold" rating in a research note on Sunday, May 4th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Newell Brands from $8.00 to $6.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Newell Brands presently has an average rating of "Hold" and a consensus price target of $7.42.
Get Our Latest Research Report on NWL
Newell Brands Profile
(
Free Report)
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.
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