Geode Capital Management LLC Purchases 115,459 Shares of Newell Brands Inc. (NASDAQ:NWL)

Geode Capital Management LLC lifted its position in shares of Newell Brands Inc. (NASDAQ:NWL) by 1.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,635,283 shares of the company’s stock after purchasing an additional 115,459 shares during the period. Geode Capital Management LLC’s holdings in Newell Brands were worth $50,973,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in Newell Brands by 5,324.8% during the 3rd quarter. Victory Capital Management Inc. now owns 4,724,266 shares of the company’s stock worth $36,282,000 after purchasing an additional 4,637,180 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Newell Brands by 29.2% in the second quarter. Dimensional Fund Advisors LP now owns 11,818,316 shares of the company’s stock worth $75,753,000 after acquiring an additional 2,668,384 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Newell Brands by 18.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 16,618,316 shares of the company’s stock valued at $127,629,000 after acquiring an additional 2,634,114 shares during the last quarter. Primecap Management Co. CA increased its position in Newell Brands by 17.7% during the 2nd quarter. Primecap Management Co. CA now owns 14,049,064 shares of the company’s stock valued at $90,054,000 after purchasing an additional 2,109,892 shares during the period. Finally, AQR Capital Management LLC raised its holdings in Newell Brands by 106.7% during the 2nd quarter. AQR Capital Management LLC now owns 2,546,418 shares of the company’s stock worth $16,042,000 after purchasing an additional 1,314,514 shares during the last quarter. Institutional investors and hedge funds own 92.50% of the company’s stock.

Insider Buying and Selling at Newell Brands

In other news, insider Bradford R. Turner sold 20,000 shares of the stock in a transaction dated 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 in the company, valued at $2,063,075.84. This represents a 7.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Tracy L. Platt sold 23,343 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $10.31, for a total transaction of $240,666.33. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.

Newell Brands Trading Up 1.1 %

NASDAQ NWL opened at $10.02 on Monday. The company has a quick ratio of 0.50, a current ratio of 0.99 and a debt-to-equity ratio of 1.43. Newell Brands Inc. has a 52 week low of $5.39 and a 52 week high of $11.78. The business has a 50 day moving average price of $9.25 and a 200-day moving average price of $7.87. The company has a market cap of $4.17 billion, a price-to-earnings ratio of -16.70, a P/E/G ratio of 1.02 and a beta of 0.90.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings results on Friday, October 25th. The company reported $0.16 EPS for the quarter, meeting 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 business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the previous year, the business posted $0.39 EPS. Newell Brands’s quarterly revenue was down 2.6% on a year-over-year basis. As a group, equities analysts expect that Newell Brands Inc. will post 0.65 earnings per share for the current fiscal year.

Newell Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a $0.07 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.28 annualized dividend and a yield of 2.79%. Newell Brands’s payout ratio is -46.67%.

Wall Street Analysts Forecast Growth

NWL has been the topic of a number of analyst reports. Wells Fargo & Company upped their price objective on shares of Newell Brands from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Monday, October 28th. Truist Financial upgraded Newell Brands from a “hold” rating to a “buy” rating and increased their price target for the stock from $10.00 to $17.00 in a report on Monday, December 9th. JPMorgan Chase & Co. dropped their price objective on Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Barclays upgraded Newell Brands from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $8.00 to $10.00 in a report on Wednesday, November 20th. Finally, Canaccord Genuity Group boosted their price target on 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, seven have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Newell Brands has a consensus 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.