Raymond James & Associates Has $9.67 Million Position in Newell Brands Inc. (NASDAQ:NWL)

Raymond James & Associates reduced its holdings in Newell Brands Inc. (NASDAQ:NWL – Get Rating) by 41.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 739,464 shares of the company’s stock after selling 518,952 shares during the quarter. Raymond James & Associates owned about 0.18% of Newell Brands worth $9,672,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pzena Investment Management LLC grew its position in Newell Brands by 21.6% during the fourth quarter. Pzena Investment Management LLC now owns 47,361,679 shares of the company’s stock worth $619,491,000 after buying an additional 8,407,044 shares in the last quarter. BlackRock Inc. grew its position in Newell Brands by 2.9% during the third quarter. BlackRock Inc. now owns 56,524,457 shares of the company’s stock worth $785,125,000 after buying an additional 1,583,751 shares in the last quarter. State Street Corp grew its position in Newell Brands by 6.6% during the first quarter. State Street Corp now owns 21,398,665 shares of the company’s stock worth $458,145,000 after buying an additional 1,330,465 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Newell Brands by 2,875.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 910,498 shares of the company’s stock worth $11,909,000 after buying an additional 879,899 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Newell Brands by 2.0% during the third quarter. Vanguard Group Inc. now owns 43,410,150 shares of the company’s stock worth $602,968,000 after buying an additional 869,557 shares in the last quarter. 92.31% of the stock is owned by institutional investors and hedge funds.

Newell Brands Stock Performance

NWL opened at $8.98 on Friday. The company has a fifty day moving average price of $11.53 and a two-hundred day moving average price of $13.19. The company has a quick ratio of 0.55, a current ratio of 1.23 and a debt-to-equity ratio of 1.43. Newell Brands Inc. has a 52 week low of $8.73 and a 52 week high of $21.88.

Newell Brands (NASDAQ:NWL – Get Rating) last released its earnings results on Friday, April 28th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). Newell Brands had a positive return on equity of 13.59% and a negative net margin of 1.31%. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same period in the prior year, the firm posted $0.36 EPS. Newell Brands’s revenue was down 24.4% on a year-over-year basis. On average, sell-side analysts forecast that Newell Brands Inc. will post 0.97 EPS for the current year.

Newell Brands Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Tuesday, May 30th. Newell Brands’s dividend payout ratio (DPR) is -317.23%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Morgan Stanley decreased their price objective on Newell Brands from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Monday, February 13th. Deutsche Bank Aktiengesellschaft cut their price objective on Newell Brands from $14.00 to $13.00 in a report on Monday, May 1st. StockNews.com initiated coverage on shares of Newell Brands in a research note on Thursday, March 16th. They set a “sell” rating on the stock. Wells Fargo & Company lifted their price objective on Newell Brands from $13.00 to $15.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 24th. Finally, Raymond James decreased their target price on Newell Brands from $18.00 to $17.00 and set a “strong-buy” rating on the stock in a report on Monday, February 13th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $17.18.

Insider Activity

In related news, CFO Mark J. Erceg bought 28,282 shares of Newell Brands stock in a transaction that occurred on Thursday, March 9th. The stock was purchased at an average cost of $13.00 per share, with a total value of $367,666.00. Following the purchase, the chief financial officer now owns 94,982 shares in the company, valued at $1,234,766. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Mark J. Erceg bought 9,515 shares of the company’s stock in a transaction dated Wednesday, May 3rd. The shares were bought at an average cost of $9.99 per share, with a total value of $95,054.85. Following the acquisition, the chief financial officer now owns 153,140 shares in the company, valued at $1,529,868.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark J. Erceg bought 28,282 shares of the company’s 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 owns 94,982 shares in the company, valued at approximately $1,234,766. The disclosure for this purchase can be found here. 0.58% of the stock is owned by company insiders.

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.