Ascent Group LLC Sells 5,032 Shares of Newell Brands Inc. (NASDAQ:NWL)

Ascent Group LLC trimmed its stake in Newell Brands Inc. (NASDAQ:NWL – Get Rating) by 7.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,617 shares of the company’s stock after selling 5,032 shares during the period. Ascent Group LLC’s holdings in Newell Brands were worth $823,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Mariner LLC grew its position in Newell Brands by 3.3% during the first quarter. Mariner LLC now owns 16,544 shares of the company’s stock valued at $355,000 after acquiring an additional 532 shares during the last quarter. Private Advisor Group LLC grew its position in Newell Brands by 5.0% during the first quarter. Private Advisor Group LLC now owns 12,567 shares of the company’s stock valued at $269,000 after acquiring an additional 593 shares during the last quarter. Wakefield Asset Management LLLP grew its position in Newell Brands by 4.6% during the second quarter. Wakefield Asset Management LLLP now owns 16,301 shares of the company’s stock valued at $310,000 after acquiring an additional 718 shares during the last quarter. Kinneret Advisory LLC grew its position in Newell Brands by 2.3% during the first quarter. Kinneret Advisory LLC now owns 33,080 shares of the company’s stock valued at $708,000 after acquiring an additional 739 shares during the last quarter. Finally, Yousif Capital Management LLC grew its position in Newell Brands by 1.3% during the first quarter. Yousif Capital Management LLC now owns 58,920 shares of the company’s stock valued at $1,261,000 after acquiring an additional 745 shares during the last quarter. 92.31% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Newell Brands

In other news, CFO Mark J. Erceg acquired 28,282 shares of the stock in a transaction on Thursday, March 9th. The stock was acquired at an average price of $13.00 per share, with a total value of $367,666.00. Following the completion of the transaction, the chief financial officer now owns 94,982 shares of the company’s stock, valued at approximately $1,234,766. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Mark J. Erceg purchased 28,282 shares of Newell Brands stock in a transaction dated Thursday, March 9th. The stock was purchased at an average cost of $13.00 per share, for a total transaction of $367,666.00. Following the completion of the acquisition, the chief financial officer now directly owns 94,982 shares of the company’s stock, valued at $1,234,766. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Brett Icahn sold 107,372 shares of the firm’s stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $15.37, for a total value of $1,650,307.64. Following the transaction, the director now owns 845,631 shares of the company’s stock, valued at $12,997,348.47. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Newell Brands Stock Performance

Shares of NWL stock opened at $12.18 on Wednesday. The stock has a fifty day moving average of $14.76 and a 200 day moving average of $14.24. Newell Brands Inc. has a 52 week low of $11.78 and a 52 week high of $24.70. The firm has a market capitalization of $5.04 billion, a price-to-earnings ratio of 23.88 and a beta of 0.94. The company has a quick ratio of 0.60, a current ratio of 1.32 and a debt-to-equity ratio of 1.35.

Newell Brands (NASDAQ:NWL – Get Rating) last announced its quarterly earnings results on Friday, February 10th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.23 billion. Newell Brands had a return on equity of 17.76% and a net margin of 2.33%. The firm’s revenue was down 18.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.42 earnings per share. As a group, research analysts expect that Newell Brands Inc. will post 1.04 earnings per share for the current year.

Newell Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Tuesday, February 28th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 7.55%. The ex-dividend date is Monday, February 27th. Newell Brands’s dividend payout ratio is currently 180.40%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Barclays reduced their price target on shares of Newell Brands from $13.00 to $11.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 14th. Raymond James dropped their price objective on Newell Brands from $18.00 to $17.00 and set a “strong-buy” rating for the company in a research note on Monday, February 13th. Deutsche Bank Aktiengesellschaft increased their price objective on Newell Brands from $15.00 to $17.00 in a research note on Monday, January 30th. Morgan Stanley dropped their price objective on Newell Brands from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Monday, February 13th. Finally, Wells Fargo & Company increased their price objective on Newell Brands from $13.00 to $15.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $17.55.

About Newell Brands

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Newell Brands, Inc engages in the manufacture, marketing, and sale of consumer and commercial products. It operates through the following segments: Commercial Solutions, Home Appliances, Home Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment includes commercial cleaning and maintenance solutions, closet and garage organization, hygiene systems and material handling solutions, connected home and security, and smoke and carbon monoxide alarms.