Truist Financial Corp lowered its stake in Newell Brands Inc. (NASDAQ:NWL – Free Report) by 68.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,395 shares of the company’s stock after selling 40,756 shares during the period. Truist Financial Corp’s holdings in Newell Brands were worth $160,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fairfield Bush & CO. bought a new position in shares of Newell Brands in the first quarter worth approximately $26,000. HighTower Advisors LLC lifted its position in Newell Brands by 4.5% in the 1st quarter. HighTower Advisors LLC now owns 18,847 shares of the company’s stock valued at $401,000 after acquiring an additional 808 shares in the last quarter. Private Advisor Group LLC lifted its position in Newell Brands by 5.0% in the 1st quarter. Private Advisor Group LLC now owns 12,567 shares of the company’s stock valued at $269,000 after acquiring an additional 593 shares in the last quarter. MetLife Investment Management LLC boosted its stake in Newell Brands by 23.2% during the 1st quarter. MetLife Investment Management LLC now owns 103,044 shares of the company’s stock valued at $2,206,000 after purchasing an additional 19,395 shares during the last quarter. Finally, Panagora Asset Management Inc. increased its holdings in shares of Newell Brands by 57.9% in the 1st quarter. Panagora Asset Management Inc. now owns 78,161 shares of the company’s stock worth $1,673,000 after purchasing an additional 28,656 shares in the last quarter. Institutional investors own 91.53% of the company’s stock.
Wall Street Analysts Forecast Growth
NWL has been the subject of several research analyst reports. Royal Bank of Canada reduced their price objective on Newell Brands from $12.00 to $9.00 and set a “sector perform” rating for the company in a report on Monday, October 30th. Morgan Stanley dropped their price target on Newell Brands from $11.00 to $8.50 and set an “equal weight” rating on the stock in a research note on Tuesday, October 31st. Deutsche Bank Aktiengesellschaft upped their price objective on Newell Brands from $9.00 to $11.00 in a research report on Monday, July 31st. StockNews.com raised Newell Brands from a “sell” rating to a “hold” rating in a research report on Wednesday, November 1st. Finally, TheStreet lowered shares of Newell Brands from a “c-” rating to a “d” rating in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $9.85.
Read Our Latest Research Report on NWL
Insider Buying and Selling
In other Newell Brands news, insider Bradford R. Turner sold 20,000 shares of the business’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $6.88, for a total value of $137,600.00. Following the sale, the insider now owns 152,363 shares in the company, valued at approximately $1,048,257.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.58% of the stock is owned by company insiders.
Newell Brands Stock Performance
Shares of NASDAQ NWL opened at $7.36 on Wednesday. Newell Brands Inc. has a 1 year low of $6.49 and a 1 year high of $16.75. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.24 and a quick ratio of 0.65. The stock has a market cap of $3.05 billion, a PE ratio of -5.49 and a beta of 1.01. The firm has a fifty day moving average price of $7.91 and a 200-day moving average price of $9.00.
Newell Brands (NASDAQ:NWL – Get Free Report) last released its quarterly earnings data on Friday, October 27th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.16. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $2.12 billion. Newell Brands had a positive return on equity of 9.12% and a negative net margin of 6.61%. The business’s quarterly revenue was down 11.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.53 earnings per share. Equities analysts anticipate that Newell Brands Inc. will post 0.75 earnings per share for the current fiscal year.
Newell Brands Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 3.80%. The ex-dividend date is Wednesday, November 29th. Newell Brands’s dividend payout ratio (DPR) is presently -20.90%.
Newell Brands Profile
Newell Brands Inc engages in the design, manufacture, sourcing, and distribution of consumer and commercial products worldwide. The company operates in five segments: Commercial Solutions, Home Appliances, Home Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solutions; closet and garage organization products; hygiene systems and material handling solutions; and connected home and security products under the Mapa, Quickie, Rubbermaid, Rubbermaid Commercial Products, and Spontex brands.
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Source: defenseworld.net
