Thrivent Financial for Lutherans Grows Stake in Newell Brands Inc. (NASDAQ:NWL)

Thrivent Financial for Lutherans lifted its stake in Newell Brands Inc. (NASDAQ:NWL) by 3.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 327,405 shares of the company’s stock after acquiring an additional 9,577 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Newell Brands were worth $2,514,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of NWL. Claro Advisors LLC purchased a new position in Newell Brands in the 3rd quarter worth approximately $79,000. Natixis Advisors LLC lifted its position in shares of Newell Brands by 21.5% during the third quarter. Natixis Advisors LLC now owns 413,722 shares of the company’s stock worth $3,177,000 after purchasing an additional 73,292 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Newell Brands by 3.5% in the third quarter. CIBC Asset Management Inc now owns 39,590 shares of the company’s stock valued at $304,000 after purchasing an additional 1,345 shares during the period. MQS Management LLC purchased a new position in shares of Newell Brands in the third quarter valued at $145,000. Finally, Victory Capital Management Inc. grew its holdings in Newell Brands by 5,324.8% during the 3rd quarter. Victory Capital Management Inc. now owns 4,724,266 shares of the company’s stock valued at $36,282,000 after purchasing an additional 4,637,180 shares in the last quarter. Institutional investors and hedge funds own 92.50% of the company’s stock.

Insider Activity 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 transaction, the insider now owns 230,254 shares in the company, valued at $2,063,075.84. This represents a 7.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on NWL shares. Canaccord Genuity Group upped their price objective on shares of Newell Brands from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Wells Fargo & Company increased their price target on Newell Brands from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. Truist Financial lifted their price objective on Newell Brands from $8.00 to $10.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Barclays upgraded Newell Brands from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $8.00 to $10.00 in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $9.10.

Newell Brands Price Performance

NASDAQ NWL opened at $9.34 on Wednesday. The company has a 50-day moving average price of $8.18 and a two-hundred day moving average price of $7.56. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of -15.57, a price-to-earnings-growth ratio of 0.84 and a beta of 0.89. The company has a current ratio of 0.99, a quick ratio of 0.50 and a debt-to-equity ratio of 1.43. Newell Brands Inc. has a 52 week low of $5.39 and a 52 week high of $9.72.

Newell Brands (NASDAQ:NWL) last posted its earnings results on Friday, October 25th. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period last year, the firm earned $0.39 EPS. The firm’s revenue was down 2.6% compared to the same quarter last year. Analysts forecast that Newell Brands Inc. will post 0.66 EPS for the current year.

Newell Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.00%. Newell Brands’s dividend payout ratio (DPR) is presently -46.67%.

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.