Bank of Nova Scotia Has $471,000 Stock Holdings in Newell Brands Inc. (NASDAQ:NWL)

Bank of Nova Scotia cut its holdings in Newell Brands Inc. (NASDAQ:NWL – Get Rating) by 3.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 36,035 shares of the company’s stock after selling 1,433 shares during the quarter. Bank of Nova Scotia’s holdings in Newell Brands were worth $471,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NWL. BlackRock Inc. grew its position in shares of Newell Brands by 2.9% during the 3rd 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 during the period. Pzena Investment Management LLC grew its position in shares of Newell Brands by 21.6% during the 4th 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 during the period. Vanguard Group Inc. grew its position in shares of Newell Brands by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 43,445,148 shares of the company’s stock worth $930,160,000 after buying an additional 443,812 shares during the period. State Street Corp grew its position in shares of Newell Brands by 2.8% during the 3rd quarter. State Street Corp now owns 22,746,301 shares of the company’s stock worth $315,946,000 after buying an additional 623,235 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Newell Brands by 1.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,797,338 shares of the company’s stock worth $122,195,000 after buying an additional 91,612 shares during the period. 92.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NWL has been the topic of several recent analyst reports. Royal Bank of Canada cut their price objective on Newell Brands from $17.00 to $15.00 and set a “sector perform” 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. Raymond James cut their target price on Newell Brands from $18.00 to $17.00 and set a “strong-buy” rating on the stock in a research note on Monday, February 13th. Citigroup started coverage on Newell Brands in a research note on Thursday, February 16th. They issued a “neutral” rating and a $15.00 target price on the stock. Finally, StockNews.com started coverage on Newell Brands in a research report on Thursday, March 16th. They set a “sell” rating on the stock. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $17.18.

Newell Brands Price Performance

NWL stock opened at $8.71 on Thursday. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.23 and a quick ratio of 0.55. Newell Brands Inc. has a 1-year low of $8.52 and a 1-year high of $21.88. The business’s 50 day simple moving average is $11.27 and its 200 day simple moving average is $12.95.

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

Newell Brands Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Wednesday, May 31st will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Tuesday, May 30th. Newell Brands’s payout ratio is presently -317.23%.

Insider Buying and Selling

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

Newell Brands Profile

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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.