Newell Brands Inc. (NASDAQ:NWL) Shares Sold by Amalgamated Bank

Amalgamated Bank decreased its stake in Newell Brands Inc. (NASDAQ:NWL) by 26.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 129,167 shares of the company’s stock after selling 46,177 shares during the quarter. Amalgamated Bank’s holdings in Newell Brands were worth $992,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Newell Brands during the 1st quarter worth $301,000. Janney Montgomery Scott LLC increased its position in shares of Newell Brands by 15.3% during the first quarter. Janney Montgomery Scott LLC now owns 77,221 shares of the company’s stock worth $620,000 after acquiring an additional 10,240 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Newell Brands in the first quarter worth about $80,000. Swiss National Bank lifted its stake in shares of Newell Brands by 5.5% in the first quarter. Swiss National Bank now owns 817,942 shares of the company’s stock worth $6,568,000 after acquiring an additional 42,400 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in Newell Brands by 13.2% in the first quarter. Sei Investments Co. now owns 376,838 shares of the company’s stock valued at $3,026,000 after purchasing an additional 44,047 shares during the last quarter. Institutional investors and hedge funds own 92.50% of the company’s stock.

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 Tuesday, November 5th. The stock was sold at an average price of $8.96, for a total transaction of $179,200.00. Following the completion of the transaction, the insider now owns 230,254 shares in the company, valued at approximately $2,063,075.84. The trade was a 7.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.58% of the company’s stock.

Newell Brands Stock Performance

Shares of NASDAQ NWL opened at $8.96 on Friday. The company has a quick ratio of 0.50, a current ratio of 0.99 and a debt-to-equity ratio of 1.43. The firm’s 50-day moving average price is $7.89 and its two-hundred day moving average price is $7.49. Newell Brands Inc. has a 52-week low of $5.39 and a 52-week high of $9.68. The stock has a market capitalization of $3.73 billion, a P/E ratio of -15.13, a P/E/G ratio of 0.85 and a beta of 0.89.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings results on Friday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.96 billion. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. The business’s revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the business posted $0.39 EPS. As a group, sell-side analysts forecast that Newell Brands Inc. will post 0.65 earnings per share for the current year.

Newell Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, November 29th. This represents a $0.28 annualized dividend and a dividend yield of 3.13%. Newell Brands’s dividend payout ratio is currently -46.67%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NWL shares. Royal Bank of Canada upped their target price on Newell Brands from $7.50 to $9.50 and gave the company a “sector perform” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. cut their price target on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. Truist Financial raised their price objective on shares of Newell Brands from $8.00 to $10.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Citigroup lowered shares of Newell Brands from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 13th. Finally, Wells Fargo & Company lifted their price target on Newell Brands from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $8.90.

Newell Brands Profile

Newell Brands Inc engages in the design, manufacture, sourcing, and distribution of consumer and commercial products worldwide. The company operates in 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.