Wealth Enhancement Advisory Services LLC Raises Stock Holdings in Newell Brands Inc. (NASDAQ:NWL)

Wealth Enhancement Advisory Services LLC increased its stake in shares of Newell Brands Inc. (NASDAQ:NWL) by 70.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,683 shares of the company’s stock after purchasing an additional 26,688 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Newell Brands were worth $644,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in NWL. QSM Asset Management Ltd acquired a new position in Newell Brands during the 4th quarter valued at about $8,089,000. Polar Asset Management Partners Inc. acquired a new position in Newell Brands during the 4th quarter valued at about $1,942,000. Forum Financial Management LP acquired a new position in Newell Brands during the 4th quarter valued at about $160,000. Castlekeep Investment Advisors LLC acquired a new position in Newell Brands during the 4th quarter valued at about $33,000. Finally, Castleark Management LLC acquired a new position in Newell Brands during the 4th quarter valued at about $3,758,000. 92.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NWL has been the topic of several recent analyst reports. Truist Financial reduced their target price on Newell Brands from $17.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Wells Fargo & Company cut their price objective on Newell Brands from $6.00 to $5.00 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. Canaccord Genuity Group cut their price objective on Newell Brands from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Royal Bank of Canada reissued a “sector perform” rating and issued a $9.00 price objective on shares of Newell Brands in a report on Monday, April 28th. Finally, JPMorgan Chase & Co. cut their price objective on Newell Brands from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $7.42.

Newell Brands Stock Performance

Shares of NWL stock opened at $5.69 on Wednesday. The company has a market capitalization of $2.38 billion, a P/E ratio of -10.94, a P/E/G ratio of 0.95 and a beta of 0.97. The business’s 50 day moving average is $5.21 and its two-hundred day moving average is $7.45. The company has a current ratio of 1.14, a quick ratio of 0.56 and a debt-to-equity ratio of 1.64. Newell Brands Inc. has a 12-month low of $4.22 and a 12-month high of $11.78.

Newell Brands (NASDAQ:NWL) last issued its quarterly earnings results on Wednesday, April 30th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.06. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.54 billion. Newell Brands had a positive return on equity of 9.76% and a negative net margin of 2.85%. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. Analysts expect that Newell Brands Inc. will post 0.72 EPS for the current fiscal year.

Newell Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, May 30th. This represents a $0.28 dividend on an annualized basis and a yield of 4.92%. Newell Brands’s dividend payout ratio is currently -47.46%.

About Newell Brands

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.