Wedmont Private Capital Makes New $290,000 Investment in Newell Brands Inc. $NWL

Key Points

• Wedmont Private Capital has acquired a new stake in Newell Brands, purchasing 49,544 shares valued at approximately $290,000 in the second quarter of 2023.
• Newell Brands reported $1.94 billion in revenue for the last quarter, slightly missing analyst expectations, with a net margin of -3.29% and earnings per share consistent with estimates at $0.24.
• The company's recent quarterly dividend of $0.07 reflects an annualized yield of 5.1%, despite a payout ratio of -47.46%.

Wedmont Private Capital acquired a new stake in Newell Brands Inc. (NASDAQ:NWL - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 49,544 shares of the company's stock, valued at approximately $290,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Tidal Investments LLC boosted its stake in shares of Newell Brands by 12.9% during the 4th quarter. Tidal Investments LLC now owns 58,725 shares of the company's stock worth $585,000 after acquiring an additional 6,713 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Newell Brands by 17.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,148,360 shares of the company's stock valued at $11,438,000 after purchasing an additional 170,003 shares during the last quarter. Castlekeep Investment Advisors LLC acquired a new position in Newell Brands during the fourth quarter valued at approximately $33,000. Forum Financial Management LP acquired a new position in Newell Brands during the fourth quarter valued at approximately $160,000. Finally, Polar Asset Management Partners Inc. bought a new position in Newell Brands in the 4th quarter worth $1,942,000. Institutional investors and hedge funds own 92.50% of the company's stock.

Insider Buying and Selling

In related news, CEO Melanie Arlene Huet sold 8,800 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $5.11, for a total value of $44,968.00. Following the sale, the chief executive officer directly owned 52,007 shares in the company, valued at $265,755.77. This trade represents a 14.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.71% of the company's stock.

Newell Brands Price Performance

Shares of Newell Brands stock traded down $0.04 during mid-day trading on Monday, reaching $5.49. 6,507,110 shares of the stock were exchanged, compared to its average volume of 6,918,029. The company has a current ratio of 1.12, a quick ratio of 0.57 and a debt-to-equity ratio of 1.68. The company has a market cap of $2.30 billion, a price-to-earnings ratio of 10.06 and a beta of 0.99. The firm has a 50-day simple moving average of $5.70 and a 200 day simple moving average of $5.61. Newell Brands Inc. has a fifty-two week low of $4.22 and a fifty-two week high of $11.78.

Newell Brands (NASDAQ:NWL - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The company reported $0.24 earnings per share for the quarter, meeting analysts' consensus estimates of $0.24. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.95 billion. Newell Brands had a negative net margin of 3.29% and a positive return on equity of 8.48%. Newell Brands's revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 earnings per share. Newell Brands has set its FY 2025 guidance at 0.660-0.70 EPS. Q3 2025 guidance at 0.160-0.19 EPS. On average, sell-side analysts predict that Newell Brands Inc. will post 0.72 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.28 dividend on an annualized basis and a yield of 5.1%. Newell Brands's dividend payout ratio (DPR) is presently -47.46%.

Analysts Set New Price Targets

Several brokerages recently commented on NWL. Citigroup lifted their target price on shares of Newell Brands from $5.50 to $6.00 and gave the stock a "neutral" rating in a report on Tuesday, September 16th. Wells Fargo & Company boosted their price objective on Newell Brands from $5.00 to $6.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 9th. JPMorgan Chase & Co. cut their price objective on Newell Brands from $8.00 to $7.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. UBS Group increased their price objective on Newell Brands from $5.00 to $5.50 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Finally, Canaccord Genuity Group reduced their price objective on Newell Brands from $11.00 to $9.00 and set a "buy" rating for the company in a research report on Monday, August 4th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Newell Brands presently has an average rating of "Moderate Buy" and a consensus price target of $7.44.

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.