MML Investors Services LLC Grows Position in Newell Brands Inc. (NASDAQ:NWL)

MML Investors Services LLC grew its stake in Newell Brands Inc. (NASDAQ:NWL) by 35.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 42,821 shares of the company’s stock after buying an additional 11,201 shares during the period. MML Investors Services LLC’s holdings in Newell Brands were worth $329,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Rothschild Investment LLC acquired a new position in shares of Newell Brands in the 2nd quarter valued at $26,000. Quarry LP raised 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 purchasing an additional 4,056 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Newell Brands during the second quarter worth about $58,000. Venturi Wealth Management LLC purchased a new stake in Newell Brands in the third quarter valued at approximately $70,000. Finally, Atomi Financial Group Inc. acquired a new position in Newell Brands in the 3rd quarter worth approximately $79,000. Hedge funds and other institutional investors own 92.50% of the company’s stock.

Insider Activity

In other Newell Brands news, insider Bradford R. Turner sold 20,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $8.96, for a total value of $179,200.00. Following the completion of the sale, the insider now owns 230,254 shares in the company, valued at approximately $2,063,075.84. This represents a 7.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tracy L. Platt sold 23,343 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $10.31, for a total transaction 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 analysts have recently commented on NWL shares. Barclays raised shares of Newell Brands from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $8.00 to $10.00 in a report on Wednesday, November 20th. JPMorgan Chase & Co. cut their price target on Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Canaccord Genuity Group boosted their price objective on Newell Brands from $13.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 6th. Truist Financial raised Newell Brands from a “hold” rating to a “buy” rating and raised their target price for the stock from $10.00 to $17.00 in a report on Monday, December 9th. Finally, Wells Fargo & Company boosted their price target on Newell Brands from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $10.00.

Newell Brands Trading Up 1.2 %

Shares of NASDAQ:NWL opened at $10.17 on Wednesday. The business’s 50 day moving average price is $9.30 and its 200-day moving average price is $7.89. Newell Brands Inc. has a 1 year low of $5.39 and a 1 year high of $11.78. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of -16.95, a price-to-earnings-growth ratio of 1.02 and a beta of 0.90. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.99 and a quick ratio of 0.50.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings data on Friday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting 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 negative net margin of 3.22% and a positive return on equity of 10.22%. The company’s revenue was down 2.6% compared to the same quarter last year. During the same period last year, the firm posted $0.39 earnings per share. On average, equities research analysts forecast that Newell Brands Inc. will post 0.65 earnings per share for the current fiscal year.

Newell Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a dividend of $0.07 per share. The ex-dividend date was Friday, November 29th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.75%. Newell Brands’s payout ratio is currently -46.67%.

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.