Principal Financial Group Inc. Buys 48,904 Shares of Newell Brands Inc. (NASDAQ:NWL)

Principal Financial Group Inc. raised its stake in shares of Newell Brands Inc. (NASDAQ:NWL - Free Report) by 2.4% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 2,064,725 shares of the company's stock after purchasing an additional 48,904 shares during the period. Principal Financial Group Inc. owned 0.49% of Newell Brands worth $12,801,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of NWL. Castlekeep Investment Advisors LLC bought a new stake in Newell Brands during the fourth quarter valued at about $33,000. Farther Finance Advisors LLC lifted its position in shares of Newell Brands by 212.6% in the first quarter. Farther Finance Advisors LLC now owns 6,130 shares of the company's stock valued at $38,000 after acquiring an additional 4,169 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in shares of Newell Brands in the fourth quarter valued at about $46,000. NBC Securities Inc. lifted its position in shares of Newell Brands by 146,542.9% in the first quarter. NBC Securities Inc. now owns 10,265 shares of the company's stock valued at $63,000 after acquiring an additional 10,258 shares in the last quarter. Finally, Whitegate Investment Counselors Inc. purchased a new position in shares of Newell Brands in the first quarter valued at about $94,000. Institutional investors own 92.50% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on NWL. Wall Street Zen upgraded Newell Brands from a "sell" rating to a "hold" rating in a research report on Sunday, May 4th. 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. Wells Fargo & Company boosted their price objective on Newell Brands from $5.00 to $6.00 and gave the company an "equal weight" rating in a research report on Wednesday. JPMorgan Chase & Co. upgraded Newell Brands from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $6.00 to $7.00 in a research report on Friday, June 13th. Finally, Truist Financial lowered 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. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $7.64.

Newell Brands Stock Down 1.7%

Shares of NWL opened at $5.81 on Friday. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of -9.85 and a beta of 0.96. Newell Brands Inc. has a 1 year low of $4.22 and a 1 year high of $11.78. The business's 50 day simple moving average is $5.53 and its 200-day simple moving average is $6.70. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.13 and a quick ratio of 0.54.

Newell Brands (NASDAQ:NWL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.06. The business had revenue of $1.57 billion for the quarter, compared to analysts' expectations of $1.54 billion. Newell Brands had a positive return on equity of 9.95% and a negative net margin of 3.26%. The firm's revenue for the quarter was down 5.3% compared to the same quarter last year. As a group, equities analysts expect that Newell Brands Inc. will post 0.72 earnings per share for the current fiscal year.

Newell Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 4.82%. The ex-dividend date of this dividend was Friday, May 30th. Newell Brands's dividend payout ratio is currently -47.46%.

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.

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