Polar Asset Management Partners Inc. acquired a new position in shares of Newell Brands Inc. (NASDAQ:NWL - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 195,000 shares of the company's stock, valued at approximately $1,942,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC grew its holdings in 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 last quarter. Norges Bank acquired a new stake in Newell Brands in the fourth quarter valued at $37,174,000. Dimensional Fund Advisors LP grew its holdings 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 valued at $180,172,000 after purchasing an additional 3,188,718 shares during the last quarter. FIL Ltd grew its holdings in Newell Brands by 109.2% in the fourth quarter. FIL Ltd now owns 5,720,884 shares of the company's stock valued at $56,980,000 after purchasing an additional 2,986,426 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Newell Brands by 214.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,349,136 shares of the company's stock valued at $33,357,000 after purchasing an additional 2,282,949 shares during the last quarter. Institutional investors and hedge funds own 92.50% of the company's stock.
Analyst Upgrades and Downgrades
NWL has been the topic of several research reports. Wells Fargo & Company lowered their target price on Newell Brands from $6.00 to $5.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Barclays upped their target price on Newell Brands from $8.00 to $9.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Truist Financial reduced their price objective on Newell Brands from $17.00 to $8.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Royal Bank of Canada restated a "sector perform" rating and issued a $9.00 price objective on shares of Newell Brands in a research report on Monday, April 28th. Finally, Citigroup reduced their price objective on Newell Brands from $7.75 to $4.75 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $7.42.
Check Out Our Latest Analysis on Newell Brands
Newell Brands Trading Down 2.2%
NASDAQ NWL traded down $0.12 during trading hours on Friday, hitting $5.33. 14,236,476 shares of the company's stock were exchanged, compared to its average volume of 7,344,594. The business's 50 day moving average is $5.32 and its 200-day moving average is $7.62. Newell Brands Inc. has a 12-month low of $4.22 and a 12-month high of $11.78. The firm has a market capitalization of $2.23 billion, a P/E ratio of -10.25, a price-to-earnings-growth ratio of 0.95 and a beta of 0.92. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.56 and a current ratio of 1.14.
Newell Brands (NASDAQ:NWL - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.06. Newell Brands had a positive return on equity of 9.76% and a negative net margin of 2.85%. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.54 billion. The firm's revenue for the quarter was down 5.3% compared to the same quarter last year. As a group, analysts anticipate that Newell Brands Inc. will post 0.72 EPS for the current fiscal year.
Newell Brands Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, May 30th. This represents a $0.28 annualized dividend and a yield of 5.25%. Newell Brands's dividend payout ratio (DPR) is presently -47.46%.
Newell Brands Company Profile
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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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