Pallas Capital Advisors LLC Acquires 1,625 Shares of Newell Brands Inc. (NASDAQ:NWL)

Pallas Capital Advisors LLC grew its holdings in shares of Newell Brands Inc. (NASDAQ:NWL) by 6.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 28,865 shares of the company’s stock after purchasing an additional 1,625 shares during the period. Pallas Capital Advisors LLC’s holdings in Newell Brands were worth $287,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Quarry LP raised its stake in Newell Brands by 104.4% during the second quarter. Quarry LP now owns 7,941 shares of the company’s stock valued at $51,000 after buying an additional 4,056 shares during the last quarter. Venturi Wealth Management LLC bought a new position in shares of Newell Brands during the third quarter valued at $70,000. Atomi Financial Group Inc. purchased a new position in shares of Newell Brands in the 3rd quarter worth about $79,000. Claro Advisors LLC bought a new position in Newell Brands in the 3rd quarter worth about $79,000. Finally, Versant Capital Management Inc grew its position in Newell Brands by 24.8% during the 4th quarter. Versant Capital Management Inc now owns 8,376 shares of the company’s stock valued at $83,000 after purchasing an additional 1,666 shares during the last quarter. 92.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NWL shares. JPMorgan Chase & Co. decreased their target price on shares of Newell Brands from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, October 11th. Truist Financial upgraded Newell Brands from a “hold” rating to a “buy” rating and increased their target price for the company from $10.00 to $17.00 in a research note on Monday, December 9th. Wells Fargo & Company lifted their target price on Newell Brands from $9.00 to $11.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 7th. Barclays raised Newell Brands from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $8.00 to $10.00 in a report on Wednesday, November 20th. Finally, Canaccord Genuity Group lifted their price objective on Newell Brands from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $10.20.

Newell Brands Stock Up 1.1 %

NWL stock opened at $9.98 on Thursday. The business’s 50-day moving average is $9.86 and its two-hundred day moving average is $8.25. The company has a market cap of $4.15 billion, a price-to-earnings ratio of -16.63, a P/E/G ratio of 1.02 and a beta of 0.89. Newell Brands Inc. has a fifty-two week low of $5.39 and a fifty-two week high of $11.78. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.50 and a current ratio of 0.99.

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

Newell Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend was Friday, November 29th. Newell Brands’s payout ratio is -46.67%.

Insider Transactions at Newell Brands

In related news, insider Tracy L. Platt sold 23,343 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was 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 stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $8.96, for a total transaction of $179,200.00. Following the completion of the sale, the insider now directly owns 230,254 shares of the company’s stock, valued at $2,063,075.84. This represents 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.

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.