Newell Brands Inc. (NASDAQ:NWL) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc grew its position in Newell Brands Inc. (NASDAQ:NWL) by 3.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 39,590 shares of the company’s stock after purchasing an additional 1,345 shares during the period. CIBC Asset Management Inc’s holdings in Newell Brands were worth $304,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Rothschild Investment LLC purchased a new stake in Newell Brands in the second quarter valued at $26,000. Gradient Investments LLC acquired a new position in shares of Newell Brands in the 2nd quarter valued at about $46,000. Quarry LP boosted its stake in shares of Newell Brands by 104.4% in the second quarter. Quarry LP now owns 7,941 shares of the company’s stock worth $51,000 after buying an additional 4,056 shares during the last quarter. Innealta Capital LLC acquired a new stake in Newell Brands during the second quarter worth about $58,000. Finally, Venturi Wealth Management LLC purchased a new position in Newell Brands during the third quarter valued at approximately $70,000. 92.50% of the stock is currently owned by hedge funds and other institutional investors.

Newell Brands Stock Up 1.1 %

Shares of NWL opened at $8.94 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.50 and a debt-to-equity ratio of 1.43. The firm has a market cap of $3.72 billion, a P/E ratio of -14.90, a price-to-earnings-growth ratio of 0.82 and a beta of 0.89. The company’s 50-day moving average price is $8.08 and its 200 day moving average price is $7.54. Newell Brands Inc. has a 12-month low of $5.39 and a 12-month high of $9.68.

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

Newell Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.07 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.28 dividend on an annualized basis and a yield of 3.13%. Newell Brands’s dividend payout ratio (DPR) is presently -46.67%.

Insider Buying and Selling

In other Newell Brands news, insider Bradford R. Turner sold 20,000 shares of Newell Brands stock in a transaction dated 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 sale, the insider now directly 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 Securities & Exchange Commission, which is available at this link. 0.58% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on NWL shares. JPMorgan Chase & Co. dropped their price objective on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Truist Financial raised their price target on shares of Newell Brands from $8.00 to $10.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Canaccord Genuity Group upped their price objective on shares of Newell Brands from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Royal Bank of Canada increased 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. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Newell Brands from $8.00 to $9.00 and gave the company a “hold” rating in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $9.10.

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.