Wedmont Private Capital Takes Position in Newell Brands Inc. (NASDAQ:NWL)

Wedmont Private Capital purchased a new position in Newell Brands Inc. (NASDAQ:NWL) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 57,862 shares of the company’s stock, valued at approximately $565,000.

A number of other large investors also recently modified their holdings of the company. CIBC Asset Management Inc lifted its stake in Newell Brands by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 39,590 shares of the company’s stock worth $304,000 after purchasing an additional 1,345 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Newell Brands by 24.8% in the fourth quarter. Versant Capital Management Inc now owns 8,376 shares of the company’s stock worth $83,000 after purchasing an additional 1,666 shares during the period. Centaurus Financial Inc. increased its holdings 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 worth $203,000 after purchasing an additional 1,762 shares during the period. GAMMA Investing LLC raised its position in shares of Newell Brands by 26.5% in the third quarter. GAMMA Investing LLC now owns 15,002 shares of the company’s stock worth $115,000 after buying an additional 3,142 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in Newell Brands by 6.7% during the third quarter. M&T Bank Corp now owns 50,694 shares of the company’s stock valued at $389,000 after buying an additional 3,202 shares during the period. 92.50% of the stock is currently owned by institutional investors.

Newell Brands Stock Performance

NASDAQ NWL opened at $9.87 on Wednesday. The company has a 50-day simple moving average of $9.86 and a two-hundred day simple moving average of $8.25. Newell Brands Inc. has a 12-month low of $5.39 and a 12-month high of $11.78. The firm has a market cap of $4.11 billion, a price-to-earnings ratio of -16.45, a PEG ratio of 1.02 and a beta of 0.89. 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 (NASDAQ:NWL) last issued its earnings results on Friday, October 25th. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. The company had revenue of $1.95 billion during 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%. Newell Brands’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 EPS. On average, equities analysts forecast that Newell Brands Inc. will post 0.65 EPS for the current year.

Newell Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 2.84%. The ex-dividend date was Friday, November 29th. Newell Brands’s payout ratio is -46.67%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on NWL shares. Truist Financial upgraded Newell Brands from a “hold” rating to a “buy” rating and upped their target price for the stock from $10.00 to $17.00 in a research note on Monday, December 9th. JPMorgan Chase & Co. decreased their price objective on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Wells Fargo & Company lifted their target price on shares of Newell Brands from $9.00 to $11.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 7th. Barclays raised shares of Newell Brands from an “equal weight” rating to an “overweight” rating and increased 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 stock a “buy” rating in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $10.20.

Insider Activity at Newell Brands

In other news, insider Tracy L. Platt sold 23,343 shares of the company’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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bradford R. Turner sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was 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 directly owns 230,254 shares in the company, 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. 0.58% of the stock is currently owned by company insiders.

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.