Newell Brands Inc. (NASDAQ:NWL) Shares Bought by Quarry LP

Quarry LP grew its stake in Newell Brands Inc. (NASDAQ:NWL) by 104.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,941 shares of the company’s stock after acquiring an additional 4,056 shares during the quarter. Quarry LP’s holdings in Newell Brands were worth $51,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of NWL. Millennium Management LLC increased its holdings in shares of Newell Brands by 65.9% during the 2nd quarter. Millennium Management LLC now owns 924,973 shares of the company’s stock worth $5,929,000 after buying an additional 367,481 shares during the last quarter. Deprince Race & Zollo Inc. increased its stake in Newell Brands by 1.4% during the second quarter. Deprince Race & Zollo Inc. now owns 10,227,445 shares of the company’s stock worth $65,558,000 after acquiring an additional 137,441 shares during the last quarter. EVR Research LP raised its position in Newell Brands by 340.0% in the second quarter. EVR Research LP now owns 660,000 shares of the company’s stock valued at $4,231,000 after purchasing an additional 510,000 shares during the period. AQR Capital Management LLC raised its position in Newell Brands by 106.7% in the second quarter. AQR Capital Management LLC now owns 2,546,418 shares of the company’s stock valued at $16,042,000 after purchasing an additional 1,314,514 shares during the period. Finally, AXA S.A. acquired a new position in shares of Newell Brands in the 2nd quarter valued at $89,000. Hedge funds and other institutional investors own 92.50% of the company’s stock.

Newell Brands Price Performance

NWL stock opened at $7.48 on Friday. The business’s 50-day moving average is $7.47 and its two-hundred day moving average is $7.32. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.98 and a quick ratio of 0.51. The firm has a market capitalization of $3.11 billion, a P/E ratio of -10.39, a P/E/G ratio of 1.26 and a beta of 0.91. Newell Brands Inc. has a 1 year low of $5.39 and a 1 year high of $9.24.

Newell Brands (NASDAQ:NWL) last issued its quarterly earnings results on Friday, July 26th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.15. Newell Brands had a negative net margin of 3.43% and a positive return on equity of 13.04%. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the previous year, the firm earned $0.24 earnings per share. The firm’s quarterly revenue was down 7.8% on a year-over-year basis. Analysts anticipate that Newell Brands Inc. will post 0.65 earnings per share for the current fiscal year.

Newell Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 3.74%. The ex-dividend date was Friday, August 30th. Newell Brands’s dividend payout ratio (DPR) is presently -38.89%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Truist Financial raised their price objective on Newell Brands from $8.00 to $10.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Wells Fargo & Company boosted their price target on shares of Newell Brands from $6.00 to $9.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. lowered their price objective on shares of Newell Brands from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. Canaccord Genuity Group lifted their target price on shares of Newell Brands from $10.00 to $12.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Newell Brands from $8.00 to $9.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Newell Brands has an average 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.