Assenagon Asset Management S.A. Purchases New Shares in Newell Brands Inc. (NASDAQ:NWL)

Assenagon Asset Management S.A. purchased a new stake in Newell Brands Inc. (NASDAQ:NWL) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 654,305 shares of the company’s stock, valued at approximately $4,057,000. Assenagon Asset Management S.A. owned 0.16% of Newell Brands as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. FMR LLC lifted its stake in Newell Brands by 233.6% in the 4th quarter. FMR LLC now owns 14,527,609 shares of the company’s stock worth $144,695,000 after acquiring an additional 10,172,696 shares in the last quarter. Norges Bank purchased a new stake in Newell Brands in the 4th quarter worth about $37,174,000. Dimensional Fund Advisors LP lifted its stake in Newell Brands by 21.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 18,089,297 shares of the company’s stock worth $180,172,000 after acquiring an additional 3,188,718 shares in the last quarter. FIL Ltd lifted its stake in Newell Brands by 109.2% in the 4th quarter. FIL Ltd now owns 5,720,884 shares of the company’s stock worth $56,980,000 after acquiring an additional 2,986,426 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Newell Brands by 214.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,349,136 shares of the company’s stock worth $33,357,000 after acquiring an additional 2,282,949 shares in the last quarter. Institutional investors and hedge funds own 92.50% of the company’s stock.

Newell Brands Stock Down 3.5%

NWL opened at $5.24 on Monday. The business has a 50 day moving average price of $5.24 and a 200 day moving average price of $7.35. Newell Brands Inc. has a twelve month low of $4.22 and a twelve month high of $11.78. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.56 and a current ratio of 1.14. The firm has a market cap of $2.19 billion, a P/E ratio of -10.08, a price-to-earnings-growth ratio of 0.95 and a beta of 0.97.

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

Newell Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 5.34%. The ex-dividend date was Friday, May 30th. Newell Brands’s dividend payout ratio is currently -47.46%.

Analyst Ratings Changes

Several brokerages recently issued reports on NWL. Barclays increased their price objective on Newell Brands from $8.00 to $9.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Wells Fargo & Company cut their price target on Newell Brands from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. Truist Financial reduced their price target on Newell Brands from $17.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Citigroup reduced their price target on Newell Brands from $7.75 to $4.75 and set a “neutral” rating for the company in a report on Monday, April 14th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $9.00 price target on shares of Newell Brands in a report on Monday, April 28th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Newell Brands has an average rating of “Hold” and an average price target of $7.53.

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.