Truist Financial Corp decreased its stake in shares of Newell Brands Inc. (NASDAQ:NWL – Free Report) by 10.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,759 shares of the company’s stock after selling 1,489 shares during the period. Truist Financial Corp’s holdings in Newell Brands were worth $111,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Arizona State Retirement System boosted its stake in Newell Brands by 1.4% during the third quarter. Arizona State Retirement System now owns 112,012 shares of the company’s stock worth $1,011,000 after acquiring an additional 1,508 shares in the last quarter. Kestra Private Wealth Services LLC boosted its stake in Newell Brands by 6.7% during the third quarter. Kestra Private Wealth Services LLC now owns 24,775 shares of the company’s stock worth $224,000 after acquiring an additional 1,547 shares in the last quarter. Kestra Advisory Services LLC boosted its stake in Newell Brands by 5.4% during the third quarter. Kestra Advisory Services LLC now owns 30,495 shares of the company’s stock worth $275,000 after acquiring an additional 1,562 shares in the last quarter. Xcel Wealth Management LLC boosted its stake in Newell Brands by 8.6% during the fourth quarter. Xcel Wealth Management LLC now owns 21,370 shares of the company’s stock worth $185,000 after acquiring an additional 1,700 shares in the last quarter. Finally, CM Wealth Advisors LLC boosted its stake in Newell Brands by 15.6% during the third quarter. CM Wealth Advisors LLC now owns 27,400 shares of the company’s stock worth $247,000 after acquiring an additional 3,700 shares in the last quarter. Institutional investors own 92.50% of the company’s stock.
Wall Street Analyst Weigh In
NWL has been the topic of several research reports. UBS Group lowered shares of Newell Brands from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $10.00 to $8.50 in a research note on Friday, February 16th. Canaccord Genuity Group upped their target price on shares of Newell Brands from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Raymond James downgraded shares of Newell Brands from an “outperform” rating to a “market perform” rating in a research note on Monday, February 12th. Wells Fargo & Company upped their target price on shares of Newell Brands from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Monday, April 29th. Finally, Morgan Stanley dropped their target price on shares of Newell Brands from $8.50 to $7.75 and set an “equal weight” rating on the stock in a research note on Monday, February 12th. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $8.70.
Get Our Latest Stock Analysis on NWL
Newell Brands Stock Down 2.9 %
NWL opened at $7.98 on Thursday. Newell Brands Inc. has a twelve month low of $6.49 and a twelve month high of $11.61. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of -11.08, a PEG ratio of 1.53 and a beta of 0.95. The company has a quick ratio of 0.58, a current ratio of 1.15 and a debt-to-equity ratio of 1.48. The firm has a 50 day moving average price of $7.68 and a 200-day moving average price of $7.88.
Newell Brands (NASDAQ:NWL – Get Free Report) last announced its earnings results on Friday, April 26th. The company reported ($0.07) EPS for the quarter, meeting analysts’ consensus estimates of ($0.07). Newell Brands had a negative net margin of 3.70% and a positive return on equity of 11.21%. The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the prior year, the company earned ($0.06) earnings per share. The firm’s revenue was down 5.8% on a year-over-year basis. Equities research analysts forecast that Newell Brands Inc. will post 0.6 earnings per share for the current year.
Newell Brands Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.07 per share. The ex-dividend date is Friday, May 31st. This represents a $0.28 dividend on an annualized basis and a yield of 3.51%. Newell Brands’s dividend payout ratio is currently -38.89%.
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.
Further Reading
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Source: defenseworld.net
