Principal Financial Group Inc. Raises Stock Position in Newell Brands Inc. (NASDAQ:NWL)

Principal Financial Group Inc. grew its stake in Newell Brands Inc. (NASDAQ:NWL - Free Report) by 2.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,064,725 shares of the company's stock after acquiring an additional 48,904 shares during the period. Principal Financial Group Inc. owned 0.49% of Newell Brands worth $12,801,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Teacher Retirement System of Texas grew its stake in Newell Brands by 67.2% in the 1st quarter. Teacher Retirement System of Texas now owns 84,253 shares of the company's stock worth $522,000 after acquiring an additional 33,861 shares in the last quarter. Whitegate Investment Counselors Inc. bought a new position in shares of Newell Brands during the first quarter valued at approximately $94,000. Elevated Capital Advisors LLC boosted its stake in shares of Newell Brands by 20.2% during the first quarter. Elevated Capital Advisors LLC now owns 74,335 shares of the company's stock valued at $461,000 after purchasing an additional 12,486 shares in the last quarter. QSM Asset Management Ltd boosted its stake in shares of Newell Brands by 33.4% during the first quarter. QSM Asset Management Ltd now owns 1,078,450 shares of the company's stock valued at $6,579,000 after purchasing an additional 270,000 shares in the last quarter. Finally, Illinois Municipal Retirement Fund boosted its stake in shares of Newell Brands by 9.9% during the first quarter. Illinois Municipal Retirement Fund now owns 204,247 shares of the company's stock valued at $1,266,000 after purchasing an additional 18,454 shares in the last quarter. 92.50% of the stock is currently owned by institutional investors.

Newell Brands Stock Up 0.9%

NWL traded up $0.05 during trading on Wednesday, hitting $5.47. The stock had a trading volume of 4,878,977 shares, compared to its average volume of 7,935,048. The company has a market capitalization of $2.28 billion, a PE ratio of -9.27 and a beta of 0.96. Newell Brands Inc. has a twelve month low of $4.22 and a twelve month high of $11.78. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.54 and a current ratio of 1.13. The stock has a 50 day simple moving average of $5.55 and a two-hundred day simple moving average of $6.64.

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, topping the consensus estimate of ($0.07) by $0.06. Newell Brands had a negative net margin of 3.26% and a positive return on equity of 9.95%. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.54 billion. The firm's revenue was down 5.3% compared to the same quarter last year. On average, research analysts predict that Newell Brands Inc. will post 0.72 earnings per share for the current year.

Newell Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.28 annualized dividend and a dividend yield of 5.12%. Newell Brands's payout ratio is currently -47.46%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NWL. Royal Bank Of Canada reiterated a "sector perform" rating and set a $9.00 price objective on shares of Newell Brands in a research note on Monday, April 28th. Barclays increased their price objective on shares of Newell Brands from $8.00 to $9.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. JPMorgan Chase & Co. upgraded shares of Newell Brands from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $6.00 to $7.00 in a research note on Friday, June 13th. Canaccord Genuity Group dropped their price objective on shares of Newell Brands from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, Truist Financial dropped 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 note on Thursday, April 24th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $7.78.

Newell Brands Profile

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.