Everence Capital Management Inc. Decreases Holdings in Newell Brands Inc. (NASDAQ:NWL)

Everence Capital Management Inc. cut its position in shares of Newell Brands Inc. (NASDAQ:NWL) by 66.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,920 shares of the company’s stock after selling 37,740 shares during the quarter. Everence Capital Management Inc.’s holdings in Newell Brands were worth $188,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. grew its holdings in Newell Brands by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,959,641 shares of the company’s stock valued at $15,050,000 after buying an additional 82,337 shares during the last quarter. Citigroup Inc. raised its stake in Newell Brands by 7.7% during the third quarter. Citigroup Inc. now owns 1,233,918 shares of the company’s stock worth $9,476,000 after purchasing an additional 88,164 shares during the period. Versor Investments LP boosted its holdings in Newell Brands by 135.6% in the third quarter. Versor Investments LP now owns 98,700 shares of the company’s stock valued at $758,000 after acquiring an additional 56,800 shares during the last quarter. Primecap Management Co. CA grew its holdings in shares of Newell Brands by 4.8% during the 3rd quarter. Primecap Management Co. CA now owns 14,723,079 shares of the company’s stock worth $113,073,000 after purchasing an additional 674,015 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Newell Brands by 29.2% in the second quarter. Dimensional Fund Advisors LP now owns 11,818,316 shares of the company’s stock valued at $75,753,000 after buying an additional 2,668,384 shares during the period. Institutional investors and hedge funds own 92.50% of the company’s stock.

Newell Brands Trading Down 2.1 %

Newell Brands stock opened at $9.84 on Friday. The firm has a 50-day moving average price of $9.80 and a two-hundred day moving average price of $8.15. Newell Brands Inc. has a 52-week low of $5.39 and a 52-week high of $11.78. The firm has a market capitalization of $4.09 billion, a price-to-earnings ratio of -16.40, a PEG ratio of 1.02 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 (NASDAQ:NWL) last issued its quarterly earnings data on Friday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.96 billion. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.39 EPS. Sell-side analysts expect that Newell Brands Inc. will post 0.65 earnings per share for the current year.

Newell Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.85%. Newell Brands’s dividend payout ratio (DPR) is -46.67%.

Analysts Set New Price Targets

NWL has been the subject of several recent research reports. Wells Fargo & Company increased their price objective on shares of Newell Brands from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Barclays raised Newell Brands from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $8.00 to $10.00 in a research report on Wednesday, November 20th. Canaccord Genuity Group upped their target price on Newell Brands from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Truist Financial upgraded Newell Brands from a “hold” rating to a “buy” rating and raised their target price for the company from $10.00 to $17.00 in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.20.

Insider Transactions at Newell Brands

In other Newell Brands news, insider Bradford R. Turner sold 20,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $8.96, for a total value of $179,200.00. Following the completion of the sale, the insider now directly owns 230,254 shares of the company’s stock, valued at approximately $2,063,075.84. This represents a 7.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tracy L. Platt sold 23,343 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $10.31, for a total transaction of $240,666.33. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.

Newell Brands 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.