Federated Hermes Inc. Has $564,000 Stake in Newell Brands Inc. (NASDAQ:NWL)

Federated Hermes Inc. decreased its position in shares of Newell Brands Inc. (NASDAQ:NWL) by 1.6% in the 2nd quarter, Holdings Channel reports. The firm owned 88,058 shares of the company’s stock after selling 1,413 shares during the quarter. Federated Hermes Inc.’s holdings in Newell Brands were worth $564,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of NWL. Vanguard Group Inc. raised its stake in Newell Brands by 1.7% during the 4th 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 period. Norges Bank bought a new stake in shares of Newell Brands in the 4th quarter worth $32,781,000. Bank of New York Mellon Corp increased its stake in Newell Brands by 8.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,820,147 shares of the company’s stock valued at $18,077,000 after buying an additional 215,759 shares during the last quarter. M&G Plc bought a new stake in Newell Brands during the first quarter worth $9,992,000. Finally, Swiss National Bank boosted its holdings in shares of Newell Brands by 5.5% in the 1st quarter. Swiss National Bank now owns 817,942 shares of the company’s stock worth $6,568,000 after buying an additional 42,400 shares during the last quarter. Institutional investors own 92.50% of the company’s stock.

Analyst Ratings Changes

NWL has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Newell Brands from $8.00 to $9.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Citigroup cut Newell Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 13th. Royal Bank of Canada increased their price target on shares of Newell Brands from $7.50 to $9.50 and gave the stock a “sector perform” rating in a report on Monday, July 29th. JPMorgan Chase & Co. dropped their price objective on shares of Newell Brands from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. Finally, Canaccord Genuity Group upped their target price on shares of Newell Brands from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $8.82.

Newell Brands Price Performance

NWL opened at $7.25 on Tuesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.98 and a quick ratio of 0.51. Newell Brands Inc. has a 1 year low of $5.39 and a 1 year high of $9.24. The stock’s 50 day simple moving average is $7.35 and its 200 day simple moving average is $7.34. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of -10.07, a PEG ratio of 1.27 and a beta of 0.91.

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

Newell Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a $0.07 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.28 annualized dividend and a dividend yield of 3.86%. Newell Brands’s dividend payout ratio is -38.89%.

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.