State Street Corp Trims Position in Newell Brands Inc. (NASDAQ:NWL)

State Street Corp cut its stake in shares of Newell Brands Inc. (NASDAQ:NWL) by 5.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,832,510 shares of the company’s stock after selling 805,507 shares during the quarter. State Street Corp owned approximately 3.33% of Newell Brands worth $106,234,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CIBC Asset Management Inc grew its position in shares of Newell Brands by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 39,590 shares of the company’s stock worth $304,000 after buying an additional 1,345 shares in the last quarter. Centaurus Financial Inc. raised its holdings in shares of Newell Brands by 5.9% in the 2nd quarter. Centaurus Financial Inc. now owns 31,599 shares of the company’s stock valued at $203,000 after purchasing an additional 1,762 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of 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 in the last quarter. Raymond James Trust N.A. raised its stake 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 buying an additional 2,490 shares in the last quarter. Finally, Xcel Wealth Management LLC lifted its holdings in 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 buying an additional 2,500 shares during the period. Institutional investors own 92.50% of the company’s stock.

Newell Brands Stock Down 3.8 %

NWL stock opened at $11.01 on Monday. The company has a quick ratio of 0.50, a current ratio of 0.99 and a debt-to-equity ratio of 1.43. Newell Brands Inc. has a 52 week low of $5.39 and a 52 week high of $11.78. The stock has a market capitalization of $4.58 billion, a PE ratio of -18.35, a price-to-earnings-growth ratio of 1.06 and a beta of 0.90. The firm has a 50 day moving average of $8.96 and a 200 day moving average of $7.77.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings data on Friday, October 25th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. Newell Brands had a negative net margin of 3.22% and a positive return on equity of 10.22%. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the previous year, the firm posted $0.39 earnings per share. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. Sell-side analysts forecast that Newell Brands Inc. will post 0.66 earnings per share for the current year.

Newell Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date was Friday, November 29th. Newell Brands’s dividend payout ratio is presently -46.67%.

Insider Transactions at Newell Brands

In other news, insider Bradford R. Turner sold 20,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $8.96, for a total value of $179,200.00. Following the completion of the transaction, the insider now owns 230,254 shares of the company’s stock, valued at $2,063,075.84. The trade was a 7.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Tracy L. Platt sold 23,343 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $10.31, for a total value of $240,666.33. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on NWL shares. JPMorgan Chase & Co. reduced their price target on Newell Brands from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. Barclays upgraded shares of Newell Brands from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $8.00 to $10.00 in a report on Wednesday, November 20th. Canaccord Genuity Group raised their price target on shares of Newell Brands from $13.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 6th. Wells Fargo & Company boosted their price objective on shares of Newell Brands from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Monday, October 28th. Finally, Truist Financial upgraded shares of Newell Brands from a “hold” rating to a “buy” rating and raised their target price for the company from $10.00 to $17.00 in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $10.00.

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.