Allspring Global Investments Holdings LLC Boosts Stake in Newell Brands Inc. (NASDAQ:NWL)

Allspring Global Investments Holdings LLC increased its position in Newell Brands Inc. (NASDAQ:NWL - Free Report) by 88,271.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 162,604 shares of the company's stock after purchasing an additional 162,420 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Newell Brands were worth $1,411,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC grew its position in shares of Newell Brands by 20.9% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 55,998 shares of the company's stock worth $506,000 after buying an additional 9,662 shares during the period. Public Sector Pension Investment Board grew its position in shares of Newell Brands by 1,213.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 470,989 shares of the company's stock worth $4,253,000 after buying an additional 435,133 shares during the period. FMR LLC grew its position in shares of Newell Brands by 481.6% during the 3rd quarter. FMR LLC now owns 5,406,274 shares of the company's stock worth $48,819,000 after buying an additional 4,476,644 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Newell Brands by 20.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,059,578 shares of the company's stock worth $36,658,000 after buying an additional 679,318 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of Newell Brands by 368.3% during the 3rd quarter. Principal Financial Group Inc. now owns 2,026,362 shares of the company's stock worth $18,298,000 after buying an additional 1,593,661 shares during the period. 92.50% of the stock is currently owned by institutional investors and hedge funds.

Newell Brands Stock Performance

Shares of Newell Brands stock traded up $0.19 on Tuesday, reaching $7.13. 4,003,039 shares of the company were exchanged, compared to its average volume of 5,026,216. Newell Brands Inc. has a one year low of $6.49 and a one year high of $12.32. The company has a current ratio of 1.16, a quick ratio of 0.63 and a debt-to-equity ratio of 1.47. The company has a 50-day moving average of $7.52 and a 200 day moving average of $7.74.

Newell Brands (NASDAQ:NWL - Get Free Report) last posted its earnings results on Friday, February 9th. The company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.05. The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $1.98 billion. Newell Brands had a positive return on equity of 10.24% and a negative net margin of 4.77%. The firm's revenue was down 8.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.16 EPS. As a group, sell-side analysts expect that Newell Brands Inc. will post 0.56 EPS for the current fiscal year.

Newell Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend was Wednesday, February 28th. Newell Brands's payout ratio is presently -29.47%.

Analysts Set New Price Targets

Several research firms have recently issued reports on NWL. Barclays boosted their target price on Newell Brands from $5.00 to $6.00 and gave the stock an "underweight" rating in a research report on Tuesday, January 16th. Royal Bank of Canada cut their price objective on Newell Brands from $9.00 to $7.50 and set a "sector perform" rating on the stock in a report on Monday, February 12th. UBS Group cut Newell Brands from a "buy" rating to a "neutral" rating and cut their price objective for the company from $10.00 to $8.50 in a report on Friday, February 16th. Raymond James cut Newell Brands from an "outperform" rating to a "market perform" rating in a report on Monday, February 12th. Finally, Morgan Stanley cut their price objective on Newell Brands from $8.50 to $7.75 and set an "equal weight" rating on the stock in a report on Monday, February 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $9.13.

Newell Brands Company 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.