Handelsinvest Investeringsforvaltning Decreases Stake in Newell Brands Inc. (NASDAQ:NWL)

Handelsinvest Investeringsforvaltning reduced its holdings in Newell Brands Inc. (NASDAQ:NWL) by 34.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 22,126 shares of the company’s stock after selling 11,488 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Newell Brands were worth $178,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NWL. Quarry LP raised its stake in Newell Brands by 106.2% during the fourth quarter. Quarry LP now owns 4,731 shares of the company’s stock worth $41,000 after purchasing an additional 2,437 shares during the period. Quest Partners LLC purchased a new position in Newell Brands during the fourth quarter worth about $45,000. NBC Securities Inc. raised its stake in Newell Brands by 50.5% during the first quarter. NBC Securities Inc. now owns 5,302 shares of the company’s stock worth $42,000 after purchasing an additional 1,780 shares during the period. GAMMA Investing LLC purchased a new position in Newell Brands during the fourth quarter worth about $61,000. Finally, Dynamic Advisor Solutions LLC purchased a new position in Newell Brands during the fourth quarter worth about $88,000. 92.50% of the stock is owned by hedge funds and other institutional investors.

Newell Brands Stock Performance

NWL stock opened at $6.27 on Thursday. The company has a fifty day moving average price of $7.44 and a 200 day moving average price of $7.74. Newell Brands Inc. has a 12 month low of $6.20 and a 12 month high of $11.61. The company has a current ratio of 1.15, a quick ratio of 0.58 and a debt-to-equity ratio of 1.48.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings data on Friday, April 26th. The company reported ($0.07) EPS for the quarter, hitting analysts’ consensus estimates of ($0.07). Newell Brands had a negative net margin of 3.70% and a positive return on equity of 11.21%. The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the prior year, the firm earned ($0.06) EPS. Newell Brands’s quarterly revenue was down 5.8% on a year-over-year basis. Equities research analysts anticipate that Newell Brands Inc. will post 0.6 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a $0.07 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.47%. Newell Brands’s dividend payout ratio is presently -38.89%.

Analysts Set New Price Targets

A number of equities analysts have commented on NWL shares. Canaccord Genuity Group lifted their target price on shares of Newell Brands from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, April 29th. Citigroup lifted their target price on shares of Newell Brands from $7.50 to $8.00 and gave the stock a “neutral” rating in a research note on Monday, April 29th. Wells Fargo & Company lifted their price target on shares of Newell Brands from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Monday, April 29th. Finally, Barclays upgraded shares of Newell Brands from an “underweight” rating to an “equal weight” rating and set a $8.00 price target for the company in a research report on Tuesday, May 14th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $8.70.

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.