Louisiana State Employees Retirement System Boosts Stock Position in Newell Brands Inc. (NASDAQ:NWL)

Louisiana State Employees Retirement System increased its stake in Newell Brands Inc. (NASDAQ:NWL) by 4.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 201,100 shares of the company’s stock after buying an additional 8,900 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Newell Brands were worth $1,544,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rothschild Investment LLC purchased a new stake in Newell Brands during the 2nd quarter valued at $26,000. Gradient Investments LLC purchased a new stake in Newell Brands during the 2nd quarter valued at $46,000. Quarry LP boosted its stake in Newell Brands by 104.4% during the 2nd quarter. Quarry LP now owns 7,941 shares of the company’s stock valued at $51,000 after purchasing an additional 4,056 shares during the last quarter. Innealta Capital LLC purchased a new stake in Newell Brands during the 2nd quarter valued at $58,000. Finally, GAMMA Investing LLC boosted its stake in Newell Brands by 40.4% during the 2nd quarter. GAMMA Investing LLC now owns 11,860 shares of the company’s stock valued at $76,000 after purchasing an additional 3,412 shares during the last quarter. Hedge funds and other institutional investors own 92.50% of the company’s stock.

Newell Brands Price Performance

Shares of Newell Brands stock opened at $8.80 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.50 and a current ratio of 0.99. The stock’s fifty day moving average is $7.57 and its 200 day moving average is $7.36. The stock has a market cap of $3.66 billion, a P/E ratio of -14.67, a P/E/G ratio of 1.52 and a beta of 0.91. Newell Brands Inc. has a one year low of $5.39 and a one year high of $9.68.

Newell Brands (NASDAQ:NWL) last posted its quarterly earnings results on Friday, October 25th. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. The business’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period last year, the firm earned $0.39 earnings per share. Sell-side analysts anticipate that Newell Brands Inc. will post 0.65 earnings per share for the current year.

Newell Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.28 dividend on an annualized basis and a yield of 3.18%. Newell Brands’s dividend payout ratio is presently -46.67%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Citigroup cut Newell Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft increased their price target on Newell Brands from $8.00 to $9.00 and gave the company a “hold” rating in a report on Monday, July 29th. Canaccord Genuity Group increased their price target on Newell Brands from $12.00 to $13.00 and gave the company a “buy” rating in a report on Monday. Truist Financial increased their price target on Newell Brands from $8.00 to $10.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Finally, Royal Bank of Canada increased their price target on Newell Brands from $7.50 to $9.50 and gave the company a “sector perform” rating in a 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.90.

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.