Newell Brands Inc. (NASDAQ:NWL) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its holdings in Newell Brands Inc. (NASDAQ:NWL) by 2.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,923,917 shares of the company’s stock after selling 102,406 shares during the period. Bank of New York Mellon Corp owned 0.94% of Newell Brands worth $24,328,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in Newell Brands during the 4th quarter valued at $9,877,000. AssuredPartners Investment Advisors LLC bought a new position in Newell Brands during the fourth quarter valued at about $434,000. Norges Bank bought a new position in Newell Brands during the fourth quarter valued at about $37,174,000. AXQ Capital LP bought a new position in shares of Newell Brands in the fourth quarter worth about $892,000. Finally, Trexquant Investment LP increased its stake in Newell Brands by 84.9% during the fourth quarter. Trexquant Investment LP now owns 1,463,392 shares of the company’s stock valued at $14,575,000 after acquiring an additional 671,884 shares during the period. Hedge funds and other institutional investors own 92.50% of the company’s stock.

Newell Brands Stock Performance

Shares of NWL stock opened at $5.64 on Friday. The company has a 50 day moving average price of $5.56 and a 200-day moving average price of $6.60. The company has a quick ratio of 0.54, a current ratio of 1.13 and a debt-to-equity ratio of 1.68. The firm has a market capitalization of $2.36 billion, a PE ratio of -9.56 and a beta of 0.96. Newell Brands Inc. has a 52 week low of $4.22 and a 52 week high of $11.78.

Newell Brands (NASDAQ:NWL) last released its quarterly earnings results on Wednesday, April 30th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.06. Newell Brands had a negative net margin of 3.26% and a positive return on equity of 9.95%. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.54 billion. The business’s revenue was down 5.3% on a year-over-year basis. As a group, equities research analysts expect that Newell Brands Inc. will post 0.72 earnings per share for the current year.

Newell Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.28 dividend on an annualized basis and a yield of 4.96%. Newell Brands’s dividend payout ratio is currently -47.46%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NWL. Wells Fargo & Company lifted their price objective on Newell Brands from $5.00 to $6.00 and gave the company an “equal weight” rating in a report on Wednesday, July 9th. Truist Financial lowered their price objective on shares of Newell Brands from $17.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. JPMorgan Chase & Co. upgraded shares of Newell Brands from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $6.00 to $7.00 in a research note on Friday, June 13th. UBS Group raised their target price on shares of Newell Brands from $5.00 to $5.50 and gave the company a “neutral” rating in a research note on Thursday. Finally, Canaccord Genuity Group cut their target price on shares of Newell Brands from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $7.83.

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.