PNC Financial Services Group Inc. Trims Stock Position in Newell Brands Inc. (NASDAQ:NWL)

PNC Financial Services Group Inc. lessened its stake in shares of Newell Brands Inc. (NASDAQ:NWL) by 45.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,768 shares of the company’s stock after selling 30,366 shares during the period. PNC Financial Services Group Inc.’s holdings in Newell Brands were worth $319,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Philadelphia Trust Co. increased its position in Newell Brands by 0.8% during the 4th quarter. Philadelphia Trust Co. now owns 183,357 shares of the company’s stock valued at $1,592,000 after purchasing an additional 1,500 shares during the period. Kestra Advisory Services LLC raised its stake in Newell Brands by 5.4% in the third quarter. Kestra Advisory Services LLC now owns 30,495 shares of the company’s stock worth $275,000 after buying an additional 1,562 shares in the last quarter. Pine Valley Investments Ltd Liability Co raised its stake in Newell Brands by 15.5% in the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 11,682 shares of the company’s stock worth $101,000 after buying an additional 1,564 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in Newell Brands by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 168,708 shares of the company’s stock worth $1,464,000 after buying an additional 1,650 shares during the period. Finally, Xcel Wealth Management LLC boosted its position in Newell Brands by 8.6% during the 4th quarter. Xcel Wealth Management LLC now owns 21,370 shares of the company’s stock valued at $185,000 after acquiring an additional 1,700 shares in the last quarter. Hedge funds and other institutional investors own 92.50% of the company’s stock.

Newell Brands Price Performance

NASDAQ NWL opened at $6.41 on Friday. Newell Brands Inc. has a 1 year low of $6.21 and a 1 year high of $11.61. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.15 and a quick ratio of 0.58. The company has a market cap of $2.66 billion, a price-to-earnings ratio of -8.90, a PEG ratio of 1.17 and a beta of 0.95. The stock’s fifty day moving average price is $7.48 and its 200 day moving average price is $7.80.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings results on Friday, April 26th. The company reported ($0.07) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.07). The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.64 billion. Newell Brands had a positive return on equity of 11.21% and a negative net margin of 3.70%. Newell Brands’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.06) earnings per share. As a group, equities research analysts forecast that Newell Brands Inc. will post 0.6 earnings per share for the current year.

Newell Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.28 annualized dividend and a yield of 4.37%. Newell Brands’s dividend payout ratio (DPR) is currently -38.89%.

Analyst Ratings Changes

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

Newell Brands Company 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.