Commonwealth Equity Services LLC raised its holdings in shares of Newell Brands Inc. (NASDAQ:NWL – Free Report) by 5.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 327,620 shares of the company’s stock after purchasing an additional 16,352 shares during the quarter. Commonwealth Equity Services LLC owned 0.08% of Newell Brands worth $4,075,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the business. Fairfield Bush & CO. acquired a new stake in shares of Newell Brands in the 1st quarter worth about $26,000. CWM LLC raised its stake in shares of Newell Brands by 43.5% in the first quarter. CWM LLC now owns 3,297 shares of the company’s stock worth $41,000 after purchasing an additional 999 shares during the last quarter. Delta Asset Management LLC TN purchased a new position in shares of Newell Brands during the fourth quarter valued at approximately $44,000. Eagle Bay Advisors LLC grew its holdings in Newell Brands by 69.0% during the first quarter. Eagle Bay Advisors LLC now owns 3,751 shares of the company’s stock worth $47,000 after buying an additional 1,532 shares in the last quarter. Finally, ING Groep NV purchased a new stake in Newell Brands in the 1st quarter valued at $49,000. 91.53% of the stock is owned by institutional investors.
Newell Brands Trading Up 1.2 %
Shares of Newell Brands stock opened at $10.71 on Friday. The stock has a market capitalization of $4.44 billion, a P/E ratio of -14.47 and a beta of 0.98. Newell Brands Inc. has a 52-week low of $7.80 and a 52-week high of $18.54. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.62 and a current ratio of 1.25. The stock’s 50-day simple moving average is $10.24 and its 200 day simple moving average is $10.44.
Newell Brands Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend is Wednesday, August 30th. Newell Brands’s payout ratio is currently -37.84%.
Wall Street Analyst Weigh In
A number of research firms have issued reports on NWL. Barclays cut their price objective on shares of Newell Brands from $10.00 to $9.00 and set an “underweight” rating on the stock in a report on Thursday, July 20th. Citigroup lifted their target price on shares of Newell Brands from $9.00 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, July 31st. StockNews.com began coverage on Newell Brands in a report on Wednesday, August 23rd. They issued a “sell” rating for the company. Canaccord Genuity Group lifted their price target on Newell Brands from $13.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, July 31st. Finally, Raymond James decreased their target price on Newell Brands from $15.00 to $13.00 and set a “strong-buy” rating for the company in a research report on Monday, July 24th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, four have given 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 $16.08.
About Newell Brands
Newell Brands Inc engages in the design, manufacture, sourcing, and distribution of consumer and commercial products worldwide. The company operates in five segments: Commercial Solutions, Home Appliances, Home Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solutions; closet and garage organization products; hygiene systems and material handling solutions; and connected home and security products under the Mapa, Quickie, Rubbermaid, Rubbermaid Commercial Products, and Spontex brands.
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