State of Alaska Department of Revenue Has $1.82 Million Stake in Newell Brands Inc. (NASDAQ:NWL)

State of Alaska Department of Revenue boosted its holdings in Newell Brands Inc. (NASDAQ:NWL) by 5.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 237,391 shares of the company’s stock after buying an additional 12,444 shares during the period. State of Alaska Department of Revenue’s holdings in Newell Brands were worth $1,823,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Centaurus Financial Inc. boosted its holdings in Newell Brands by 5.9% during the second quarter. Centaurus Financial Inc. now owns 31,599 shares of the company’s stock worth $203,000 after buying an additional 1,762 shares during the last quarter. Arizona State Retirement System grew its holdings in Newell Brands by 2.1% during the second quarter. Arizona State Retirement System now owns 116,226 shares of the company’s stock valued at $745,000 after purchasing an additional 2,394 shares during the period. Tidal Investments LLC increased its stake in Newell Brands by 3.0% in the first quarter. Tidal Investments LLC now owns 83,559 shares of the company’s stock valued at $671,000 after purchasing an additional 2,407 shares in the last quarter. Raymond James Trust N.A. raised its holdings in Newell Brands by 9.9% in the second quarter. Raymond James Trust N.A. now owns 27,541 shares of the company’s stock worth $177,000 after purchasing an additional 2,490 shares during the period. Finally, Xcel Wealth Management LLC boosted its position in shares of Newell Brands by 8.3% during the second quarter. Xcel Wealth Management LLC now owns 32,773 shares of the company’s stock worth $210,000 after purchasing an additional 2,500 shares in the last quarter. 92.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on NWL shares. Royal Bank of Canada raised their price objective on Newell Brands from $7.50 to $9.50 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. cut their price objective on Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. Canaccord Genuity Group increased their target price on Newell Brands from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Citigroup lowered shares of Newell Brands from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 13th. Finally, Truist Financial increased their price objective on shares of Newell Brands from $8.00 to $10.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.90.

Newell Brands Trading Down 0.1 %

Newell Brands stock opened at $8.79 on Friday. The company has a market cap of $3.66 billion, a price-to-earnings ratio of -14.65, a P/E/G ratio of 0.82 and a beta of 0.89. The firm has a 50-day moving average of $7.60 and a 200-day moving average of $7.38. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.99 and a quick ratio of 0.50. Newell Brands Inc. has a one year low of $5.39 and a one year high of $9.68.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings results on Friday, October 25th. The company reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period last year, the company earned $0.39 earnings per share. The business’s revenue was down 2.6% compared to the same quarter last year. On average, equities analysts expect that Newell Brands Inc. will post 0.65 earnings per share for the current fiscal year.

Newell Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend was Friday, August 30th. Newell Brands’s dividend payout ratio (DPR) is currently -46.67%.

About Newell Brands

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.