Envestnet Portfolio Solutions Inc. Buys Shares of 14,303 Newell Brands Inc. (NASDAQ:NWL)

Envestnet Portfolio Solutions Inc. bought a new stake in Newell Brands Inc. (NASDAQ:NWL) during the 2nd quarter, HoldingsChannel.com reports. The firm bought 14,303 shares of the company’s stock, valued at approximately $92,000.

Other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its position in Newell Brands by 607.6% during the fourth quarter. International Assets Investment Management LLC now owns 19,340 shares of the company’s stock worth $168,000 after acquiring an additional 16,607 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Newell Brands by 14.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 89,080 shares of the company’s stock worth $773,000 after purchasing an additional 11,450 shares during the last quarter. Federated Hermes Inc. grew its position in shares of Newell Brands by 45.5% in the fourth quarter. Federated Hermes Inc. now owns 90,511 shares of the company’s stock valued at $786,000 after purchasing an additional 28,320 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Newell Brands by 36.0% in the fourth quarter. Signaturefd LLC now owns 16,656 shares of the company’s stock valued at $145,000 after purchasing an additional 4,413 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new position in Newell Brands during the fourth quarter worth approximately $61,000. 92.50% of the stock is owned by institutional investors and hedge funds.

Newell Brands Stock Up 1.4 %

NASDAQ:NWL opened at $7.40 on Friday. Newell Brands Inc. has a 52 week low of $5.39 and a 52 week high of $10.72. The stock’s fifty day moving average is $6.92 and its two-hundred day moving average is $7.37. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of -10.28, a price-to-earnings-growth ratio of 1.47 and a beta of 0.88. The company has a quick ratio of 0.51, a current ratio of 0.98 and a debt-to-equity ratio of 1.32.

Newell Brands (NASDAQ:NWL) last posted its earnings results on Friday, July 26th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.15. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.05 billion. Newell Brands had a positive return on equity of 13.04% and a negative net margin of 3.43%. Newell Brands’s revenue was down 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 EPS. Research analysts anticipate that Newell Brands Inc. will post 0.64 EPS for the current year.

Newell Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date is Friday, August 30th. Newell Brands’s dividend payout ratio (DPR) is currently -38.89%.

Analyst Ratings Changes

Several analysts have issued reports on NWL shares. Canaccord Genuity Group upped their target price on Newell Brands from $10.00 to $12.00 and gave the company a “buy” rating in a report on Monday, July 29th. Truist Financial raised their price objective on shares of Newell Brands from $8.00 to $10.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their target price 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. Wells Fargo & Company raised their price target on shares of Newell Brands from $6.00 to $9.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Finally, Royal Bank of Canada upped their price objective on Newell Brands from $7.50 to $9.50 and gave the company a “sector perform” rating in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.82.

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.