The Manufacturers Life Insurance Company Has $593,000 Stake in Newell Brands Inc. (NASDAQ:NWL)

The Manufacturers Life Insurance Company reduced its position in shares of Newell Brands Inc. (NASDAQ:NWL) by 12.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 77,222 shares of the company’s stock after selling 11,188 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Newell Brands were worth $593,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Rothschild Investment LLC acquired a new position in shares of Newell Brands during the 2nd quarter worth approximately $26,000. Gradient Investments LLC acquired a new stake in Newell Brands during the second quarter worth approximately $46,000. Quarry LP grew its position in Newell Brands by 104.4% during the second quarter. Quarry LP now owns 7,941 shares of the company’s stock worth $51,000 after buying an additional 4,056 shares in the last quarter. Innealta Capital LLC bought a new position in Newell Brands during the 2nd quarter worth $58,000. Finally, Venturi Wealth Management LLC acquired a new position in Newell Brands in the 3rd quarter valued at $70,000. 92.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Newell Brands

In related news, insider Tracy L. Platt sold 23,343 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $10.31, for a total value of $240,666.33. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Bradford R. Turner sold 20,000 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $8.96, for a total value of $179,200.00. Following the completion of the sale, the insider now owns 230,254 shares of the company’s stock, valued at $2,063,075.84. The trade was a 7.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.58% of the company’s stock.

Newell Brands Price Performance

NWL stock opened at $11.01 on Friday. The stock has a market cap of $4.58 billion, a price-to-earnings ratio of -18.35, a P/E/G ratio of 1.06 and a beta of 0.90. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.99 and a quick ratio of 0.50. The company has a 50 day simple moving average of $8.96 and a 200 day simple moving average of $7.77. Newell Brands Inc. has a 1 year low of $5.39 and a 1 year high of $11.78.

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

Newell Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a $0.07 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.28 dividend on an annualized basis and a yield of 2.54%. Newell Brands’s payout ratio is presently -46.67%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on NWL shares. JPMorgan Chase & Co. reduced their target price on Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. Truist Financial upgraded shares of Newell Brands from a “hold” rating to a “buy” rating and increased their price objective for the stock from $10.00 to $17.00 in a research note on Monday, December 9th. Wells Fargo & Company raised their target price on shares of Newell Brands from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. Barclays raised shares of Newell Brands from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $8.00 to $10.00 in a report on Wednesday, November 20th. Finally, Canaccord Genuity Group lifted their price objective on shares of Newell Brands from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, December 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Newell Brands has an average rating of “Hold” and a consensus target price of $10.00.

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.