Victory Capital Management Inc. Sells 937,225 Shares of Newell Brands Inc. (NASDAQ:NWL)

Victory Capital Management Inc. reduced its position in shares of Newell Brands Inc. (NASDAQ:NWL - Free Report) by 13.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,853,640 shares of the company's stock after selling 937,225 shares during the quarter. Victory Capital Management Inc. owned about 1.40% of Newell Brands worth $36,293,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NWL. Signaturefd LLC grew its holdings in shares of Newell Brands by 12.4% during the fourth quarter. Signaturefd LLC now owns 14,025 shares of the company's stock valued at $140,000 after buying an additional 1,550 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Newell Brands by 14.5% during the fourth quarter. Quadrant Capital Group LLC now owns 13,551 shares of the company's stock valued at $135,000 after buying an additional 1,713 shares during the last quarter. Argent Trust Co grew its holdings in shares of Newell Brands by 9.3% during the fourth quarter. Argent Trust Co now owns 23,447 shares of the company's stock valued at $234,000 after buying an additional 2,000 shares during the last quarter. Zacks Investment Management grew its holdings in shares of Newell Brands by 9.5% during the fourth quarter. Zacks Investment Management now owns 25,828 shares of the company's stock valued at $257,000 after buying an additional 2,234 shares during the last quarter. Finally, LPL Financial LLC grew its holdings in shares of Newell Brands by 3.0% during the fourth quarter. LPL Financial LLC now owns 96,294 shares of the company's stock valued at $959,000 after buying an additional 2,808 shares during the last quarter. Institutional investors own 92.50% of the company's stock.

Newell Brands Stock Performance

NWL traded down $0.20 during midday trading on Thursday, reaching $6.18. The company had a trading volume of 1,298,326 shares, compared to its average volume of 9,091,657. 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 market cap of $2.58 billion, a PE ratio of -10.52 and a beta of 0.96. Newell Brands Inc. has a 12-month low of $4.22 and a 12-month high of $11.78. The business has a 50-day moving average price of $5.57 and a two-hundred day moving average price of $6.49.

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, beating analysts' consensus estimates of ($0.07) by $0.06. The firm had revenue of $1.57 billion for the quarter, compared to analysts' expectations of $1.54 billion. Newell Brands had a negative net margin of 3.26% and a positive return on equity of 9.95%. Newell Brands's revenue was down 5.3% on a year-over-year basis. On average, sell-side analysts expect that Newell Brands Inc. will post 0.72 earnings per share for the current fiscal year.

Newell Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date was Friday, May 30th. Newell Brands's payout ratio is -47.46%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Canaccord Genuity Group reduced their price objective on shares of Newell Brands from $12.00 to $11.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Wall Street Zen upgraded shares of Newell Brands from a "sell" rating to a "hold" rating in a report on Sunday, May 4th. Truist Financial reduced 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. JPMorgan Chase & Co. upgraded shares of Newell Brands from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $6.00 to $7.00 in a report on Friday, June 13th. Finally, UBS Group boosted their price target on shares of Newell Brands from $5.00 to $5.50 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $7.83.

About Newell Brands

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.