Raymond James & Associates Sells 29,069 Shares of Newell Brands Inc. (NASDAQ:NWL)

Raymond James & Associates trimmed its stake in shares of Newell Brands Inc. (NASDAQ:NWL) by 4.8% in the third quarter, Holdings Channel.com reports. The fund owned 582,121 shares of the company’s stock after selling 29,069 shares during the quarter. Raymond James & Associates’ holdings in Newell Brands were worth $4,471,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Rothschild Investment LLC bought a new stake in Newell Brands in the second quarter worth approximately $26,000. Gradient Investments LLC bought a new stake in Newell Brands in the second quarter worth approximately $46,000. Quarry LP increased its holdings in 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 in the last quarter. Innealta Capital LLC bought a new stake in Newell Brands in the second quarter worth approximately $58,000. Finally, GAMMA Investing LLC increased its holdings in Newell Brands by 40.4% in the second quarter. GAMMA Investing LLC now owns 11,860 shares of the company’s stock worth $76,000 after purchasing an additional 3,412 shares in the last quarter. 92.50% of the stock is currently owned by institutional investors.

Newell Brands Stock Down 0.1 %

Shares of NASDAQ:NWL opened at $8.79 on Friday. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of -14.65, a PEG ratio of 0.82 and a beta of 0.89. The company has a quick ratio of 0.50, a current ratio of 0.99 and a debt-to-equity ratio of 1.43. Newell Brands Inc. has a 12-month low of $5.39 and a 12-month high of $9.68. The business’s 50 day moving average is $7.60 and its 200 day moving average is $7.38.

Newell Brands (NASDAQ:NWL) last announced its earnings results on Friday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. Newell Brands’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.39 earnings per share. On average, sell-side analysts forecast that Newell Brands Inc. will post 0.65 earnings per share for the current fiscal year.

Newell Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.07 per share. The ex-dividend date was Friday, August 30th. This represents a $0.28 annualized dividend and a dividend yield of 3.19%. Newell Brands’s payout ratio is -46.67%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NWL shares. Deutsche Bank Aktiengesellschaft lifted their target price on Newell Brands from $8.00 to $9.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Truist Financial raised their price objective on Newell Brands from $8.00 to $10.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. reduced their price objective on Newell Brands from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. Canaccord Genuity Group raised their price objective on Newell Brands from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Finally, Royal Bank of Canada raised their price objective on Newell Brands from $7.50 to $9.50 and gave the company a “sector perform” rating in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $8.90.

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.