Lecap Asset Management Ltd. Makes New $762,000 Investment in Newell Brands Inc. (NASDAQ:NWL)

Lecap Asset Management Ltd. purchased a new position in shares of Newell Brands Inc. (NASDAQ:NWL) in the 3rd quarter, HoldingsChannel reports. The firm purchased 99,158 shares of the company’s stock, valued at approximately $762,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC increased its stake in shares of Newell Brands by 35.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 16,369 shares of the company’s stock valued at $126,000 after acquiring an additional 4,327 shares in the last quarter. Everence Capital Management Inc. increased its stake in shares of Newell Brands by 11.4% in the 3rd quarter. Everence Capital Management Inc. now owns 56,660 shares of the company’s stock valued at $435,000 after acquiring an additional 5,800 shares in the last quarter. TriaGen Wealth Management LLC bought a new stake in shares of Newell Brands in the 3rd quarter valued at $442,000. Claro Advisors LLC bought a new stake in shares of Newell Brands in the 3rd quarter valued at $542,000. Finally, Creative Planning increased its stake in shares of Newell Brands by 32.7% in the 3rd quarter. Creative Planning now owns 33,963 shares of the company’s stock valued at $261,000 after acquiring an additional 8,365 shares in the last quarter. Institutional investors own 92.50% of the company’s stock.

Newell Brands Trading Down 1.9 %

NASDAQ NWL opened at $7.18 on Friday. Newell Brands Inc. has a 1 year low of $5.39 and a 1 year high of $9.24. The company has a current ratio of 0.98, a quick ratio of 0.51 and a debt-to-equity ratio of 1.32. The company has a fifty day moving average price of $7.41 and a 200-day moving average price of $7.31.

Newell Brands (NASDAQ:NWL) last posted its 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. Newell Brands had a negative net margin of 3.43% and a positive return on equity of 13.04%. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the prior year, the business posted $0.24 EPS. The business’s revenue was down 7.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Newell Brands Inc. will post 0.65 earnings per share for the current year.

Newell Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.07 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.28 annualized dividend and a dividend yield of 3.90%. Newell Brands’s payout ratio is -43.08%.

Analysts Set New Price Targets

Several research firms have recently weighed in on NWL. Truist Financial lifted their price objective on shares of Newell Brands from $8.00 to $10.00 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Royal Bank of Canada lifted their price objective on shares of Newell Brands from $7.50 to $9.50 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Canaccord Genuity Group lifted their price target on shares of Newell Brands from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Newell Brands from $8.00 to $9.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Finally, Wells Fargo & Company boosted their price target on shares of Newell Brands from $6.00 to $9.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, Newell Brands currently has a consensus rating of “Hold” and an average price target of $8.80.

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.