Newell Brands Inc. (NASDAQ:NWL) Shares Bought by Citigroup Inc.

Citigroup Inc. grew its holdings in Newell Brands Inc. (NASDAQ:NWL) by 7.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,233,918 shares of the company’s stock after buying an additional 88,164 shares during the period. Citigroup Inc.’s holdings in Newell Brands were worth $9,476,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. CIBC Asset Management Inc increased its holdings in Newell Brands by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 39,590 shares of the company’s stock valued at $304,000 after purchasing an additional 1,345 shares during the last quarter. Centaurus Financial Inc. grew its stake in shares of Newell Brands by 5.9% in the second quarter. Centaurus Financial Inc. now owns 31,599 shares of the company’s stock valued at $203,000 after buying an additional 1,762 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Newell Brands by 2.1% in the second quarter. Arizona State Retirement System now owns 116,226 shares of the company’s stock valued at $745,000 after buying an additional 2,394 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of Newell Brands by 3.0% in the 1st quarter. Tidal Investments LLC now owns 83,559 shares of the company’s stock valued at $671,000 after buying an additional 2,407 shares during the period. Finally, Raymond James Trust N.A. lifted its stake in Newell Brands by 9.9% during the 2nd quarter. Raymond James Trust N.A. now owns 27,541 shares of the company’s stock worth $177,000 after acquiring an additional 2,490 shares in the last quarter. 92.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Citigroup downgraded shares of Newell Brands from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 13th. Barclays raised shares of Newell Brands from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $8.00 to $10.00 in a research report on Wednesday, November 20th. Canaccord Genuity Group upped their price objective on Newell Brands from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, Wells Fargo & Company lifted their target price on Newell Brands from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $9.10.

Newell Brands Trading Up 1.0 %

NASDAQ:NWL opened at $9.59 on Friday. Newell Brands Inc. has a 1 year low of $5.39 and a 1 year high of $9.72. The stock has a market cap of $3.99 billion, a P/E ratio of -15.98, a P/E/G ratio of 0.88 and a beta of 0.89. 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 has a 50-day simple moving average of $8.31 and a 200-day simple moving average of $7.60.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings results on Friday, October 25th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.96 billion. Newell Brands had a positive return on equity of 10.22% and a negative net margin of 3.22%. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.39 earnings per share. As a group, analysts anticipate that Newell Brands Inc. will post 0.66 earnings per share for the current fiscal year.

Newell Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.28 annualized dividend and a yield of 2.92%. Newell Brands’s dividend payout ratio is currently -46.67%.

Insider Activity at Newell Brands

In other news, insider Bradford R. Turner sold 20,000 shares of Newell Brands stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $8.96, for a total transaction of $179,200.00. Following the sale, the insider now owns 230,254 shares in the company, valued at approximately $2,063,075.84. The trade was a 7.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.58% of the stock is owned by corporate insiders.

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.