Norges Bank Acquires New Shares in Newell Brands Inc. (NASDAQ:NWL)

Norges Bank bought a new position in Newell Brands Inc. (NASDAQ:NWLFree Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,776,574 shares of the company’s stock, valued at approximately $32,781,000. Norges Bank owned about 0.91% of Newell Brands at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NWL. Arizona State Retirement System lifted its stake in shares of Newell Brands by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 112,012 shares of the company’s stock valued at $1,011,000 after purchasing an additional 1,508 shares during the last quarter. Kestra Private Wealth Services LLC lifted its position in shares of Newell Brands by 6.7% in the third quarter. Kestra Private Wealth Services LLC now owns 24,775 shares of the company’s stock worth $224,000 after buying an additional 1,547 shares during the last quarter. Kestra Advisory Services LLC boosted its stake in shares of Newell Brands by 5.4% during the 3rd quarter. Kestra Advisory Services LLC now owns 30,495 shares of the company’s stock worth $275,000 after acquiring an additional 1,562 shares in the last quarter. Xcel Wealth Management LLC increased its holdings in shares of Newell Brands by 8.6% during the 4th quarter. Xcel Wealth Management LLC now owns 21,370 shares of the company’s stock valued at $185,000 after acquiring an additional 1,700 shares during the last quarter. Finally, Triumph Capital Management raised its stake in shares of Newell Brands by 7.4% in the 4th quarter. Triumph Capital Management now owns 25,480 shares of the company’s stock valued at $221,000 after acquiring an additional 1,760 shares in the last quarter. 92.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on NWL shares. Wells Fargo & Company upped their target price on Newell Brands from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Monday, April 29th. Canaccord Genuity Group boosted their target price on shares of Newell Brands from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Morgan Stanley decreased their price target on shares of Newell Brands from $8.50 to $7.75 and set an “equal weight” rating for the company in a report on Monday, February 12th. Royal Bank of Canada dropped their price objective on Newell Brands from $9.00 to $7.50 and set a “sector perform” rating on the stock in a research note on Monday, February 12th. Finally, Barclays upgraded Newell Brands from an “underweight” rating to an “equal weight” rating and set a $8.00 target price for the company in a research note on Tuesday, May 14th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $8.70.

Read Our Latest Stock Analysis on NWL

Newell Brands Price Performance

Shares of NWL stock opened at $7.72 on Friday. Newell Brands Inc. has a 12 month low of $6.49 and a 12 month high of $11.61. The company has a market capitalization of $3.21 billion, a P/E ratio of -10.72, a P/E/G ratio of 1.37 and a beta of 0.95. The stock has a 50 day moving average of $7.67 and a two-hundred day moving average of $7.91. The company has a current ratio of 1.15, a quick ratio of 0.58 and a debt-to-equity ratio of 1.48.

Newell Brands (NASDAQ:NWLGet Free Report) last issued its earnings results on Friday, April 26th. The company reported ($0.07) EPS for the quarter, hitting the consensus estimate of ($0.07). The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Newell Brands had a positive return on equity of 11.21% and a negative net margin of 3.70%. Newell Brands’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period last year, the business earned ($0.06) earnings per share. As a group, equities analysts expect that Newell Brands Inc. will post 0.6 EPS for the current year.

Newell Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a $0.07 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.28 dividend on an annualized basis and a yield of 3.63%. Newell Brands’s payout ratio is currently -38.89%.

Newell Brands Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Newell Brands (NASDAQ:NWL)

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