Handelsbanken Fonder AB Raises Position in Newell Brands Inc. (NASDAQ:NWL)

Handelsbanken Fonder AB boosted its holdings in Newell Brands Inc. (NASDAQ:NWL) by 4.8% in the fourth quarter, HoldingsChannel reports. The firm owned 106,200 shares of the company’s stock after purchasing an additional 4,900 shares during the period. Handelsbanken Fonder AB’s holdings in Newell Brands were worth $1,058,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA boosted its holdings in Newell Brands by 18.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 16,618,316 shares of the company’s stock valued at $127,629,000 after purchasing an additional 2,634,114 shares during the last quarter. Primecap Management Co. CA boosted its holdings in Newell Brands by 4.8% in the third quarter. Primecap Management Co. CA now owns 14,723,079 shares of the company’s stock valued at $113,073,000 after purchasing an additional 674,015 shares during the last quarter. Hennessy Advisors Inc. purchased a new position in Newell Brands in the fourth quarter valued at about $72,431,000. Geode Capital Management LLC boosted its holdings in Newell Brands by 1.8% in the third quarter. Geode Capital Management LLC now owns 6,635,283 shares of the company’s stock valued at $50,973,000 after purchasing an additional 115,459 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Newell Brands by 5,324.8% in the third 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 during the last quarter. Hedge funds and other institutional investors own 92.50% of the company’s stock.

Insider Transactions at Newell Brands

In related news, insider Tracy L. Platt sold 23,343 shares of the firm’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 value of $240,666.33. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.61% of the company’s stock.

Newell Brands Stock Down 4.4 %

Shares of Newell Brands stock opened at $6.37 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.56 and a debt-to-equity ratio of 1.64. The business’s 50 day simple moving average is $9.11 and its 200-day simple moving average is $8.60. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of -12.25, a PEG ratio of 0.95 and a beta of 0.89. Newell Brands Inc. has a twelve month low of $5.39 and a twelve month high of $11.78.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings results on Friday, February 7th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the business posted $0.22 EPS. Equities research analysts forecast that Newell Brands Inc. will post 0.72 earnings per share for the current year.

Newell Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date is Friday, February 28th. Newell Brands’s payout ratio is -53.85%.

Wall Street Analyst Weigh In

NWL has been the subject of a number of analyst reports. UBS Group increased their price target on Newell Brands from $9.50 to $10.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. Truist Financial upgraded Newell Brands from a “hold” rating to a “buy” rating and upped their price objective for the company from $10.00 to $17.00 in a research note on Monday, December 9th. Royal Bank of Canada cut their price objective on Newell Brands from $9.50 to $9.00 and set a “sector perform” rating on the stock in a research note on Monday, February 10th. JPMorgan Chase & Co. upped their price objective on Newell Brands from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Finally, Wells Fargo & Company cut their price objective 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. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $10.81.

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.