Newell Brands Inc. (NASDAQ:NWL) Shares Sold by Arizona State Retirement System

Arizona State Retirement System reduced its stake in shares of Newell Brands Inc. (NASDAQ:NWL) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,998 shares of the company’s stock after selling 2,014 shares during the quarter. Arizona State Retirement System’s holdings in Newell Brands were worth $955,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bell Bank raised its stake in Newell Brands by 14.3% during the 4th quarter. Bell Bank now owns 599,803 shares of the company’s stock worth $5,206,000 after acquiring an additional 75,113 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Newell Brands during the 4th quarter worth $5,843,000. Kingswood Wealth Advisors LLC acquired a new stake in Newell Brands during the 4th quarter worth $125,000. Handelsinvest Investeringsforvaltning acquired a new stake in Newell Brands during the 4th quarter worth $292,000. Finally, Dynamic Advisor Solutions LLC acquired a new stake in Newell Brands during the 4th quarter worth $88,000. 92.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on NWL shares. UBS Group lowered shares of Newell Brands from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $10.00 to $8.50 in a research note on Friday, February 16th. Citigroup dropped their price objective on shares of Newell Brands from $9.00 to $7.50 and set a “neutral” rating on the stock in a research note on Monday, February 12th. Morgan Stanley dropped their price objective 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. Barclays lifted their price objective on shares of Newell Brands from $5.00 to $6.00 and gave the company an “underweight” rating in a research note on Tuesday, January 16th. Finally, Royal Bank of Canada dropped their price objective on shares of Newell Brands from $9.00 to $7.50 and set a “sector perform” rating on the stock in a research note on Monday, February 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Newell Brands has a consensus rating of “Hold” and a consensus price target of $9.13.

Newell Brands Trading Down 2.3 %

Shares of Newell Brands stock opened at $6.95 on Wednesday. Newell Brands Inc. has a 52-week low of $6.49 and a 52-week high of $12.74. The company has a quick ratio of 0.63, a current ratio of 1.16 and a debt-to-equity ratio of 1.47. The company’s 50-day simple moving average is $7.58 and its 200-day simple moving average is $7.77. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of -7.32, a price-to-earnings-growth ratio of 1.40 and a beta of 0.95.

Newell Brands (NASDAQ:NWL) last issued its quarterly earnings results on Friday, February 9th. The company reported $0.22 earnings per share (EPS) 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 negative net margin of 4.77% and a positive return on equity of 10.24%. The business’s revenue was down 8.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.16 earnings per share. As a group, equities research analysts anticipate that Newell Brands Inc. will post 0.56 earnings per share for the current year.

Newell Brands Dividend Announcement

The business also recently disclosed 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 yield of 4.03%. The ex-dividend date was Wednesday, February 28th. Newell Brands’s dividend payout ratio is currently -29.47%.

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.