Metis Global Partners LLC Sells 2,600 Shares of Newell Brands Inc. (NASDAQ:NWL)

Metis Global Partners LLC reduced its position in shares of Newell Brands Inc. (NASDAQ:NWL) by 8.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 26,953 shares of the company’s stock after selling 2,600 shares during the period. Metis Global Partners LLC’s holdings in Newell Brands were worth $207,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in shares of Newell Brands by 4.4% in the third quarter. Principal Financial Group Inc. now owns 1,959,641 shares of the company’s stock valued at $15,050,000 after acquiring an additional 82,337 shares during the last quarter. Versor Investments LP boosted its stake in Newell Brands by 135.6% in the third quarter. Versor Investments LP now owns 98,700 shares of the company’s stock worth $758,000 after purchasing an additional 56,800 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Newell Brands by 29.2% during the second quarter. Dimensional Fund Advisors LP now owns 11,818,316 shares of the company’s stock worth $75,753,000 after purchasing an additional 2,668,384 shares during the last quarter. ClariVest Asset Management LLC acquired a new stake in shares of Newell Brands in the second quarter valued at $596,000. Finally, Elevated Capital Advisors LLC bought a new position in shares of Newell Brands in the second quarter valued at about $468,000. 92.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Wells Fargo & Company increased their price objective on shares of Newell Brands from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Monday, October 28th. Citigroup lowered shares of Newell Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. Canaccord Genuity Group upped their price objective on Newell Brands from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Royal Bank of Canada lifted their target price 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. Finally, 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 note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $8.90.

Newell Brands Stock Performance

Shares of NWL stock opened at $8.82 on Wednesday. The stock has a market cap of $3.67 billion, a PE ratio of -14.70, a price-to-earnings-growth ratio of 0.82 and a beta of 0.89. The stock has a 50-day moving average of $8.02 and a 200-day moving average of $7.52. 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 Inc. has a one year low of $5.39 and a one year high of $9.68.

Newell Brands (NASDAQ:NWL) last posted its earnings results on Friday, October 25th. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. Newell Brands had a negative net margin of 3.22% and a positive return on equity of 10.22%. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the business posted $0.39 earnings per share. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. As a group, sell-side analysts expect that Newell Brands Inc. will post 0.65 earnings per share for the current year.

Newell Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.07 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.28 annualized dividend and a dividend yield of 3.17%. Newell Brands’s dividend payout ratio (DPR) is currently -46.67%.

Insider Transactions at Newell Brands

In other news, insider Bradford R. Turner sold 20,000 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $8.96, for a total transaction of $179,200.00. Following the completion of the sale, the insider now owns 230,254 shares of the company’s stock, valued at $2,063,075.84. This represents a 7.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.61% of the stock is currently owned by insiders.

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.