State of New Jersey Common Pension Fund D Cuts Holdings in Newell Brands Inc. (NASDAQ:NWL)

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Newell Brands Inc. (NASDAQ:NWL) by 13.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 238,000 shares of the company’s stock after selling 35,597 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.06% of Newell Brands worth $2,370,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Legato Capital Management LLC purchased a new stake in Newell Brands during the 4th quarter valued at $380,000. Allspring Global Investments Holdings LLC boosted its stake in Newell Brands by 13,240.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 215,844 shares of the company’s stock valued at $2,154,000 after purchasing an additional 214,226 shares during the last quarter. Empowered Funds LLC boosted its stake in Newell Brands by 751.9% during the 4th quarter. Empowered Funds LLC now owns 100,251 shares of the company’s stock valued at $999,000 after purchasing an additional 88,483 shares during the last quarter. Prairie Wealth Advisors Inc. purchased a new stake in Newell Brands during the 4th quarter valued at $367,000. Finally, Choreo LLC boosted its stake in Newell Brands by 68.1% during the 4th quarter. Choreo LLC now owns 22,133 shares of the company’s stock valued at $221,000 after purchasing an additional 8,969 shares during the last quarter. 92.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NWL has been the topic of a number of research reports. Truist Financial upgraded Newell Brands from a “hold” rating to a “buy” rating and raised their price target for the stock from $10.00 to $17.00 in a research note on Monday, December 9th. Wells Fargo & Company dropped their price target on Newell Brands from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Monday, February 10th. Barclays raised their price target on Newell Brands from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Canaccord Genuity Group decreased their target price on Newell Brands from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Finally, Citigroup decreased their target price on Newell Brands from $10.50 to $7.75 and set a “neutral” rating on the stock in a report on Monday, February 10th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $10.81.

Insider Buying and Selling

In related news, insider Tracy L. Platt sold 23,343 shares of Newell Brands stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $10.31, for a total value of $240,666.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.58% of the stock is currently owned by company insiders.

Newell Brands Price Performance

NASDAQ:NWL opened at $6.80 on Friday. The company has a quick ratio of 0.56, a current ratio of 1.14 and a debt-to-equity ratio of 1.64. The business’s 50-day simple moving average is $9.50 and its two-hundred day simple moving average is $8.63. The stock has a market cap of $2.83 billion, a PE ratio of -13.08, a P/E/G ratio of 0.96 and a beta of 0.89. Newell Brands Inc. has a 52 week low of $5.39 and a 52 week high of $11.78.

Newell Brands (NASDAQ:NWL) last issued its earnings results on Friday, February 7th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. Newell Brands had a positive return on equity of 9.76% and a negative net margin of 2.85%. During the same period in the previous year, the business earned $0.22 EPS. As a group, analysts forecast that Newell Brands Inc. will post 0.72 EPS for the current fiscal year.

Newell Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.28 annualized dividend and a dividend yield of 4.12%. Newell Brands’s dividend payout ratio (DPR) is -53.85%.

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.