Bank of New York Mellon Corp Sells 501,846 Shares of Newell Brands Inc. $NWL

Bank of New York Mellon Corp cut its position in Newell Brands Inc. (NASDAQ:NWL) by 12.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,422,071 shares of the company’s stock after selling 501,846 shares during the period. Bank of New York Mellon Corp owned 0.82% of Newell Brands worth $18,479,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Freestone Capital Holdings LLC boosted its holdings in Newell Brands by 41.0% in the second quarter. Freestone Capital Holdings LLC now owns 70,033 shares of the company’s stock worth $378,000 after acquiring an additional 20,375 shares in the last quarter. Earned Wealth Advisors LLC acquired a new position in shares of Newell Brands during the second quarter worth approximately $60,000. Brighton Jones LLC bought a new position in shares of Newell Brands in the 2nd quarter worth $185,000. State of New Jersey Common Pension Fund D grew its position in Newell Brands by 11.3% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 333,944 shares of the company’s stock valued at $1,803,000 after purchasing an additional 34,020 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Newell Brands during the 2nd quarter valued at $35,000. 92.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NWL has been the topic of a number of recent research reports. Royal Bank Of Canada dropped their price objective on shares of Newell Brands from $8.00 to $4.50 and set a “sector perform” rating on the stock in a research note on Monday, November 3rd. Canaccord Genuity Group dropped their price target on shares of Newell Brands from $9.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, November 3rd. Citigroup decreased their price objective on Newell Brands from $5.50 to $3.50 and set a “neutral” rating for the company in a report on Monday, November 3rd. JPMorgan Chase & Co. lowered their price objective on Newell Brands from $6.00 to $5.00 and set an “overweight” rating for the company in a research note on Monday, November 3rd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Newell Brands in a research report on Thursday. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Newell Brands has an average rating of “Hold” and an average target price of $5.86.

Newell Brands Price Performance

Newell Brands stock opened at $3.42 on Monday. Newell Brands Inc. has a 52 week low of $3.07 and a 52 week high of $11.78. The company’s 50 day moving average price is $4.84 and its two-hundred day moving average price is $5.31. The stock has a market cap of $1.43 billion, a P/E ratio of -56.99 and a beta of 1.02. The company has a quick ratio of 0.57, a current ratio of 1.14 and a debt-to-equity ratio of 1.68.

Newell Brands (NASDAQ:NWL) last issued its quarterly earnings results on Friday, October 31st. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Newell Brands had a negative net margin of 0.33% and a positive return on equity of 8.64%. The business’s revenue was down 7.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.16 earnings per share. Newell Brands has set its FY 2025 guidance at 0.560-0.600 EPS. Q4 2025 guidance at 0.160-0.200 EPS. On average, equities analysts predict that Newell Brands Inc. will post 0.72 earnings per share for the current year.

Newell Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 8.2%. The ex-dividend date is Friday, November 28th. Newell Brands’s payout ratio is presently -466.67%.

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.