Newell Brands Inc. (NASDAQ:NWL) Position Reduced by Arizona State Retirement System

Arizona State Retirement System trimmed its stake in shares of Newell Brands Inc. (NASDAQ:NWL) by 1.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 109,998 shares of the company’s stock after selling 2,014 shares during the quarter. Arizona State Retirement System’s holdings in Newell Brands were worth $955,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in NWL. Pzena Investment Management LLC lifted its position in shares of Newell Brands by 4.5% in the 3rd quarter. Pzena Investment Management LLC now owns 54,796,231 shares of the company’s stock worth $494,810,000 after buying an additional 2,373,356 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Newell Brands by 1.0% in 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 last quarter. State Street Corp lifted its position in shares of Newell Brands by 12.2% in the 1st quarter. State Street Corp now owns 25,151,594 shares of the company’s stock worth $312,886,000 after buying an additional 2,732,905 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Newell Brands by 1.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 13,086,983 shares of the company’s stock worth $118,175,000 after buying an additional 200,321 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its position in shares of Newell Brands by 39.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 11,259,689 shares of the company’s stock worth $97,959,000 after buying an additional 3,168,690 shares during the last quarter. 92.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Barclays increased their price objective on shares of Newell Brands from $5.00 to $6.00 and gave the stock an “underweight” rating in a report on Tuesday, January 16th. Morgan Stanley dropped their price objective on shares of Newell Brands from $8.50 to $7.75 and set an “equal weight” rating on the stock in a report on Monday, February 12th. Raymond James cut shares of Newell Brands from an “outperform” rating to a “market perform” rating in a research note on Monday, February 12th. JPMorgan Chase & Co. raised their target price on shares of Newell Brands from $7.00 to $9.00 and gave the company a “neutral” rating in a research note on Tuesday, January 9th. Finally, Citigroup lowered their target price on shares of Newell Brands from $9.00 to $7.50 and set a “neutral” rating on the stock in a research note on Monday, February 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $9.13.

Newell Brands Stock Performance

Shares of NWL opened at $6.95 on Wednesday. The firm’s 50 day moving average is $7.58 and its 200-day moving average is $7.77. The stock has a market capitalization of $2.89 billion, a P/E ratio of -7.32, a P/E/G ratio of 1.40 and a beta of 0.95. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.16 and a quick ratio of 0.63. Newell Brands Inc. has a 12-month low of $6.49 and a 12-month high of $12.74.

Newell Brands (NASDAQ:NWL) last announced its quarterly earnings data on Friday, February 9th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.05. The company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Newell Brands had a negative net margin of 4.77% and a positive return on equity of 10.24%. The business’s revenue was down 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 EPS. Equities research analysts anticipate that Newell Brands Inc. will post 0.56 EPS for the current fiscal year.

Newell Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.28 annualized dividend and a dividend yield of 4.03%. Newell Brands’s dividend payout ratio is currently -29.47%.

Newell Brands Company Profile

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.