Texas Permanent School Fund Corp Decreases Stock Holdings in Newell Brands Inc. (NASDAQ:NWL)

Texas Permanent School Fund Corp trimmed its holdings in shares of Newell Brands Inc. (NASDAQ:NWL) by 14.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 285,218 shares of the company’s stock after selling 47,696 shares during the quarter. Texas Permanent School Fund Corp owned 0.07% of Newell Brands worth $1,828,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NWL. Norges Bank purchased a new stake in shares of Newell Brands during the fourth quarter valued at approximately $32,781,000. Primecap Management Co. CA increased its position in Newell Brands by 35.1% in the fourth quarter. Primecap Management Co. CA now owns 8,511,972 shares of the company’s stock worth $73,884,000 after buying an additional 2,209,672 shares during the last quarter. M&G Plc purchased a new stake in Newell Brands in the first quarter worth $9,992,000. Vanguard Group Inc. increased its position in Newell Brands by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 44,892,843 shares of the company’s stock worth $389,670,000 after buying an additional 739,295 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Newell Brands by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,623,470 shares of the company’s stock worth $74,855,000 after buying an additional 434,762 shares during the last quarter. 92.50% of the stock is owned by hedge funds and other institutional investors.

Newell Brands Price Performance

NASDAQ:NWL opened at $7.33 on Thursday. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of -10.18, a P/E/G ratio of 1.27 and a beta of 0.91. Newell Brands Inc. has a 52-week low of $5.39 and a 52-week high of $9.79. The stock has a fifty day moving average of $7.28 and a 200 day moving average of $7.35. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.51 and a current ratio of 0.98.

Newell Brands (NASDAQ:NWL) last issued its quarterly earnings results on Friday, July 26th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.15. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.05 billion. Newell Brands had a positive return on equity of 13.04% and a negative net margin of 3.43%. The company’s revenue was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 earnings per share. On average, research analysts expect that Newell Brands Inc. will post 0.65 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a $0.07 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.82%. Newell Brands’s payout ratio is -38.89%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NWL. Wells Fargo & Company raised their target price on Newell Brands from $6.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Citigroup downgraded Newell Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft raised their target price on Newell Brands from $8.00 to $9.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Royal Bank of Canada lifted their price target on Newell Brands from $7.50 to $9.50 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Finally, Canaccord Genuity Group lifted their price target on Newell Brands from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Newell Brands has an average rating of “Hold” and a consensus price target of $8.82.

About Newell Brands

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.