Millennium Management LLC Acquires 367,481 Shares of Newell Brands Inc. (NASDAQ:NWL)

Millennium Management LLC grew its stake in shares of Newell Brands Inc. (NASDAQ:NWL) by 65.9% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 924,973 shares of the company’s stock after purchasing an additional 367,481 shares during the period. Millennium Management LLC’s holdings in Newell Brands were worth $5,929,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Quarry LP lifted its position in shares of Newell Brands by 106.2% during the fourth quarter. Quarry LP now owns 4,731 shares of the company’s stock valued at $41,000 after purchasing an additional 2,437 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Newell Brands by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 44,892,843 shares of the company’s stock worth $389,670,000 after buying an additional 739,295 shares during the last quarter. CWM LLC grew its holdings in shares of Newell Brands by 81.1% in the first quarter. CWM LLC now owns 14,594 shares of the company’s stock valued at $117,000 after acquiring an additional 6,536 shares in the last quarter. NBC Securities Inc. grew its holdings in shares of Newell Brands by 50.5% in the first quarter. NBC Securities Inc. now owns 5,302 shares of the company’s stock valued at $42,000 after acquiring an additional 1,780 shares in the last quarter. Finally, Wedmont Private Capital increased its position in shares of Newell Brands by 21.7% during the first quarter. Wedmont Private Capital now owns 18,524 shares of the company’s stock valued at $141,000 after acquiring an additional 3,308 shares during the last quarter. 92.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on NWL shares. Canaccord Genuity Group upped their price objective on Newell Brands from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Wells Fargo & Company lifted their price objective on shares of Newell Brands from $6.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. dropped their target price on shares of Newell Brands from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Newell Brands from $8.00 to $9.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Finally, Royal Bank of Canada increased their price objective on Newell Brands from $7.50 to $9.50 and gave the company a “sector perform” rating in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Newell Brands has a consensus rating of “Hold” and an average price target of $8.82.

Newell Brands Price Performance

Newell Brands stock opened at $7.51 on Friday. The firm has a market capitalization of $3.12 billion, a P/E ratio of -10.53, a PEG ratio of 1.26 and a beta of 0.91. Newell Brands Inc. has a one year low of $5.39 and a one year high of $9.24. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.98 and a quick ratio of 0.51. The business has a fifty day moving average price of $7.39 and a 200-day moving average price of $7.31.

Newell Brands (NASDAQ:NWL) last issued its earnings results on Friday, July 26th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.21 by $0.15. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.05 billion. Newell Brands had a positive return on equity of 13.04% and a negative net margin of 3.43%. The firm’s revenue was down 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.24 EPS. As a group, equities research analysts forecast that Newell Brands Inc. will post 0.65 EPS for the current year.

Newell Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend was Friday, August 30th. Newell Brands’s dividend payout ratio is presently -38.89%.

Newell Brands 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.