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

Swiss National Bank cut its holdings in Newell Brands Inc. (NASDAQ:NWL) by 0.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 810,342 shares of the company’s stock after selling 7,600 shares during the quarter. Swiss National Bank owned about 0.19% of Newell Brands worth $6,223,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NWL. Primecap Management Co. CA lifted its holdings in shares of Newell Brands by 17.7% during the second quarter. Primecap Management Co. CA now owns 14,049,064 shares of the company’s stock worth $90,054,000 after purchasing an additional 2,109,892 shares during the period. Dimensional Fund Advisors LP lifted its stake in Newell Brands by 29.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 11,818,316 shares of the company’s stock valued at $75,753,000 after acquiring an additional 2,668,384 shares during the period. Deprince Race & Zollo Inc. boosted its holdings in shares of Newell Brands by 1.4% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 10,227,445 shares of the company’s stock valued at $65,558,000 after acquiring an additional 137,441 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Newell Brands by 5,324.8% in the third quarter. Victory Capital Management Inc. now owns 4,724,266 shares of the company’s stock worth $36,282,000 after acquiring an additional 4,637,180 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Newell Brands by 8.3% in the second quarter. Bank of New York Mellon Corp now owns 2,820,147 shares of the company’s stock worth $18,077,000 after acquiring an additional 215,759 shares during the period. Institutional investors and hedge funds own 92.50% of the company’s stock.

Newell Brands Trading Down 2.9 %

Shares of NWL stock opened at $9.34 on Wednesday. Newell Brands Inc. has a fifty-two week low of $5.39 and a fifty-two week high of $9.72. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.50 and a current ratio of 0.99. The stock’s fifty day moving average is $8.18 and its two-hundred day moving average is $7.56. The firm has a market capitalization of $3.89 billion, a P/E ratio of -15.57, a PEG ratio of 0.84 and a beta of 0.89.

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, hitting the consensus estimate of $0.16. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.96 billion. Newell Brands had a negative net margin of 3.22% and a positive return on equity of 10.22%. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period last year, the firm posted $0.39 earnings per share. Research analysts expect that Newell Brands Inc. will post 0.66 earnings per share for the current fiscal year.

Newell Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Friday, November 29th. Newell Brands’s dividend payout ratio is currently -46.67%.

Insider Activity

In other news, insider Bradford R. Turner sold 20,000 shares of Newell Brands 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 transaction, the insider now owns 230,254 shares in the company, valued at $2,063,075.84. The trade was a 7.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

NWL has been the topic of several recent research reports. Canaccord Genuity Group upped their price target on shares of Newell Brands from $12.00 to $13.00 and gave the company a “buy” rating in a report on Monday, October 28th. JPMorgan Chase & Co. decreased their target price on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. Citigroup cut Newell Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. Truist Financial raised their price objective on Newell Brands from $8.00 to $10.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Finally, Barclays raised Newell Brands from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $8.00 to $10.00 in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Newell Brands has a consensus rating of “Hold” and an average price target of $9.10.

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.